Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

VRG S.A. (VRG.WA)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$66.45 - $78.33$73.39
Multi-Stage$39.79 - $43.76$41.74
Blended Fair Value$57.56
Current Price$4.84
Upside1,089.32%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.090.200.170.000.000.000.000.000.000.00
YoY Growth---55.00%17.65%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.46%6.38%5.17%0.00%0.00%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)94.25
(-) Cash Dividends Paid (M)21.10
(=) Cash Retained (M)73.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.8511.787.07
Cash Retained (M)73.1573.1573.15
(-) Cash Required (M)-18.85-11.78-7.07
(=) Excess Retained (M)54.3061.3766.08
(/) Shares Outstanding (M)234.13234.13234.13
(=) Excess Retained per Share0.230.260.28
LTM Dividend per Share0.090.090.09
(+) Excess Retained per Share0.230.260.28
(=) Adjusted Dividend0.320.350.37
WACC / Discount Rate3.09%3.09%3.09%
Growth Rate3.18%4.18%5.18%
Fair Value$66.45$73.39$78.33
Upside / Downside1,273.01%1,416.28%1,518.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)94.2598.19102.29106.56111.01115.65119.12
Payout Ratio22.39%35.91%49.43%62.96%76.48%90.00%92.50%
Projected Dividends (M)21.1035.2650.5667.0984.90104.09110.19

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate3.09%3.09%3.09%
Growth Rate3.18%4.18%5.18%
Year 1 PV (M)33.8834.2034.53
Year 2 PV (M)46.6747.5848.50
Year 3 PV (M)59.4961.2463.02
Year 4 PV (M)72.3375.1878.11
Year 5 PV (M)85.2089.4193.78
PV of Terminal Value (M)9,019.179,464.799,927.85
Equity Value (M)9,316.749,772.4010,245.79
Shares Outstanding (M)234.13234.13234.13
Fair Value$39.79$41.74$43.76
Upside / Downside722.16%762.37%804.14%

High-Yield Dividend Screener

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