Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Unidata S.p.A. (UD.MI)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$5.39 - $8.47$6.81
Multi-Stage$12.83 - $14.16$13.48
Blended Fair Value$10.14
Current Price$2.86
Upside254.64%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS0.00%0.00%0.010.010.010.000.000.000.000.000.000.00
YoY Growth---0.86%24.21%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.33%0.25%0.17%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)16.92
(-) Cash Dividends Paid (M)0.61
(=) Cash Retained (M)16.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.382.121.27
Cash Retained (M)16.3216.3216.32
(-) Cash Required (M)-3.38-2.12-1.27
(=) Excess Retained (M)12.9314.2015.05
(/) Shares Outstanding (M)30.5830.5830.58
(=) Excess Retained per Share0.420.460.49
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.420.460.49
(=) Adjusted Dividend0.440.480.51
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.39$6.81$8.47
Upside / Downside88.58%137.94%196.11%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)16.9216.7616.5916.4216.2616.0916.58
Payout Ratio3.58%20.86%38.15%55.43%72.72%90.00%92.50%
Projected Dividends (M)0.613.506.339.1011.8214.4915.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)3.263.303.33
Year 2 PV (M)5.515.635.74
Year 3 PV (M)7.407.637.87
Year 4 PV (M)8.989.359.73
Year 5 PV (M)10.2710.8011.36
PV of Terminal Value (M)356.94375.53394.88
Equity Value (M)392.37412.24432.91
Shares Outstanding (M)30.5830.5830.58
Fair Value$12.83$13.48$14.16
Upside / Downside348.63%371.34%394.98%

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