Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Id-Entity Sa (IDNTT.MI)

Company Dividend Discount ModelIndustry: EntertainmentSector: Communication Services

Valuation Snapshot

Stable Growth$1.76 - $2.53$2.13
Multi-Stage$2.81 - $3.09$2.94
Blended Fair Value$2.54
Current Price$2.58
Upside-1.60%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.010.010.000.000.130.000.000.000.000.00
YoY Growth--4.55%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.47%0.42%0.00%0.00%5.21%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2.09
(-) Cash Dividends Paid (M)0.24
(=) Cash Retained (M)1.85
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.420.260.16
Cash Retained (M)1.851.851.85
(-) Cash Required (M)-0.42-0.26-0.16
(=) Excess Retained (M)1.431.591.70
(/) Shares Outstanding (M)8.518.518.51
(=) Excess Retained per Share0.170.190.20
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.170.190.20
(=) Adjusted Dividend0.200.220.23
WACC / Discount Rate8.97%8.97%8.97%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.76$2.13$2.53
Upside / Downside-31.93%-17.25%-1.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2.092.072.052.032.011.992.05
Payout Ratio11.47%27.17%42.88%58.59%74.29%90.00%92.50%
Projected Dividends (M)0.240.560.881.191.491.791.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.97%8.97%8.97%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)0.510.520.52
Year 2 PV (M)0.730.740.76
Year 3 PV (M)0.890.920.95
Year 4 PV (M)1.021.061.10
Year 5 PV (M)1.111.171.23
PV of Terminal Value (M)19.6320.6521.72
Equity Value (M)23.8925.0626.27
Shares Outstanding (M)8.518.518.51
Fair Value$2.81$2.94$3.09
Upside / Downside8.73%14.06%19.60%

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