Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Admicom Oyj (ADMCM.HE)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$86.23 - $390.64$198.42
Multi-Stage$45.20 - $49.42$47.27
Blended Fair Value$122.85
Current Price$52.40
Upside134.44%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.83%0.00%0.711.322.000.900.700.460.000.260.000.00
YoY Growth---46.23%-33.89%122.52%27.47%51.42%0.00%-100.00%0.00%0.00%0.00%
Dividend Yield--1.50%3.05%4.29%1.06%0.52%0.72%0.00%2.42%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9.81
(-) Cash Dividends Paid (M)4.08
(=) Cash Retained (M)5.74
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.961.230.74
Cash Retained (M)5.745.745.74
(-) Cash Required (M)-1.96-1.23-0.74
(=) Excess Retained (M)3.774.515.00
(/) Shares Outstanding (M)5.005.005.00
(=) Excess Retained per Share0.760.901.00
LTM Dividend per Share0.820.820.82
(+) Excess Retained per Share0.760.901.00
(=) Adjusted Dividend1.571.721.82
WACC / Discount Rate7.42%7.42%7.42%
Growth Rate5.50%6.50%7.50%
Fair Value$86.23$198.42$390.64
Upside / Downside64.57%278.66%645.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9.8110.4511.1311.8612.6313.4513.85
Payout Ratio41.55%51.24%60.93%70.62%80.31%90.00%92.50%
Projected Dividends (M)4.085.366.788.3710.1412.1012.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.42%7.42%7.42%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)4.944.995.03
Year 2 PV (M)5.775.885.99
Year 3 PV (M)6.576.756.95
Year 4 PV (M)7.337.627.91
Year 5 PV (M)8.078.468.87
PV of Terminal Value (M)193.19202.52212.21
Equity Value (M)225.86236.21246.94
Shares Outstanding (M)5.005.005.00
Fair Value$45.20$47.27$49.42
Upside / Downside-13.74%-9.78%-5.68%

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