Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Everest Re Group, Ltd. (0U96.L)

Company Dividend Discount ModelIndustry: Insurance - ReinsuranceSector: Financial Services

Valuation Snapshot

Stable Growth$2,198.78 - $2,590.53$2,427.71
Multi-Stage$626.32 - $686.07$655.65
Blended Fair Value$1,541.68
Current Price$350.23
Upside340.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.35%8.63%7.886.806.025.835.885.535.104.894.614.13
YoY Growth--15.97%12.94%3.24%-0.80%6.26%8.37%4.33%6.07%11.58%20.01%
Dividend Yield--2.17%1.71%1.68%1.93%2.37%2.87%2.35%1.90%1.97%2.09%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)552.00
(-) Cash Dividends Paid (M)338.00
(=) Cash Retained (M)214.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)110.4069.0041.40
Cash Retained (M)214.00214.00214.00
(-) Cash Required (M)-110.40-69.00-41.40
(=) Excess Retained (M)103.60145.00172.60
(/) Shares Outstanding (M)42.3842.3842.38
(=) Excess Retained per Share2.443.424.07
LTM Dividend per Share7.987.987.98
(+) Excess Retained per Share2.443.424.07
(=) Adjusted Dividend10.4211.4012.05
WACC / Discount Rate5.19%5.19%5.19%
Growth Rate5.50%6.50%7.50%
Fair Value$2,198.78$2,427.71$2,590.53
Upside / Downside527.81%593.18%639.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)552.00587.88626.09666.79710.13756.29778.98
Payout Ratio61.23%66.99%72.74%78.49%84.25%90.00%92.50%
Projected Dividends (M)338.00393.79455.41523.38598.26680.66720.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.19%5.19%5.19%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)370.85374.36377.88
Year 2 PV (M)403.88411.57419.34
Year 3 PV (M)437.11449.65462.44
Year 4 PV (M)470.52488.62507.23
Year 5 PV (M)504.13528.48553.77
PV of Terminal Value (M)24,355.2425,531.6126,753.00
Equity Value (M)26,541.7327,784.3029,073.65
Shares Outstanding (M)42.3842.3842.38
Fair Value$626.32$655.65$686.07
Upside / Downside78.83%87.20%95.89%

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