Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sixt SE (SIX2.DE)

Company Dividend Discount ModelIndustry: Rental & Leasing ServicesSector: Industrials

Valuation Snapshot

Stable Growth$318.14 - $1,205.66$928.69
Multi-Stage$151.09 - $165.22$158.03
Blended Fair Value$543.36
Current Price$82.75
Upside556.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.62%14.25%3.916.123.710.020.022.164.011.781.521.24
YoY Growth---36.13%65.01%20,891.80%0.00%-99.18%-46.17%125.19%16.89%23.19%19.86%
Dividend Yield--4.94%6.91%3.50%0.01%0.02%4.39%4.27%2.02%3.15%2.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)284.63
(-) Cash Dividends Paid (M)127.08
(=) Cash Retained (M)157.55
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)56.9335.5821.35
Cash Retained (M)157.55157.55157.55
(-) Cash Required (M)-56.93-35.58-21.35
(=) Excess Retained (M)100.62121.97136.20
(/) Shares Outstanding (M)46.9546.9546.95
(=) Excess Retained per Share2.142.602.90
LTM Dividend per Share2.712.712.71
(+) Excess Retained per Share2.142.602.90
(=) Adjusted Dividend4.855.305.61
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate5.50%6.50%7.50%
Fair Value$318.14$928.69$1,205.66
Upside / Downside284.46%1,022.29%1,356.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)284.63303.13322.83343.82366.17389.97401.67
Payout Ratio44.65%53.72%62.79%71.86%80.93%90.00%92.50%
Projected Dividends (M)127.08162.83202.70247.06296.34350.97371.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)150.60152.03153.46
Year 2 PV (M)173.39176.69180.02
Year 3 PV (M)195.46201.07206.78
Year 4 PV (M)216.82225.16233.74
Year 5 PV (M)237.50248.97260.88
PV of Terminal Value (M)6,119.856,415.446,722.34
Equity Value (M)7,093.617,419.367,757.23
Shares Outstanding (M)46.9546.9546.95
Fair Value$151.09$158.03$165.22
Upside / Downside82.58%90.97%99.67%

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