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Copperwired Public Company Limited (CPW.BK)

Company Dividend Discount ModelIndustry: Technology DistributorsSector: Technology

Valuation Snapshot

Stable Growth$1.72 - $2.67$2.16
Multi-Stage$4.06 - $4.46$4.26
Blended Fair Value$3.21
Current Price$2.24
Upside43.30%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.88%0.00%0.180.080.080.080.080.210.070.020.000.00
YoY Growth--125.00%0.00%0.00%0.00%-61.60%203.40%300.00%0.00%0.00%0.00%
Dividend Yield--8.54%3.56%2.45%1.50%2.36%22.35%2.85%0.71%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)112.31
(-) Cash Dividends Paid (M)96.00
(=) Cash Retained (M)16.31
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.4614.048.42
Cash Retained (M)16.3116.3116.31
(-) Cash Required (M)-22.46-14.04-8.42
(=) Excess Retained (M)-6.152.277.89
(/) Shares Outstanding (M)607.82607.82607.82
(=) Excess Retained per Share-0.010.000.01
LTM Dividend per Share0.160.160.16
(+) Excess Retained per Share-0.010.000.01
(=) Adjusted Dividend0.150.160.17
WACC / Discount Rate6.41%6.41%6.41%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.72$2.16$2.67
Upside / Downside-23.09%-3.55%19.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)112.31111.19110.08108.98107.89106.81110.01
Payout Ratio85.48%86.38%87.29%88.19%89.10%90.00%92.50%
Projected Dividends (M)96.0096.0596.0896.1196.1296.13101.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.41%6.41%6.41%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)89.3590.2691.17
Year 2 PV (M)83.1584.8686.58
Year 3 PV (M)77.3779.7782.21
Year 4 PV (M)71.9974.9778.05
Year 5 PV (M)66.9870.4674.09
PV of Terminal Value (M)2,080.132,188.452,301.24
Equity Value (M)2,468.982,588.782,713.34
Shares Outstanding (M)607.82607.82607.82
Fair Value$4.06$4.26$4.46
Upside / Downside81.34%90.14%99.29%

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