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Capital Clean Energy Carriers Corp. (CCEC)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$481.21 - $1,143.83$1,071.93
Multi-Stage$165.58 - $181.37$173.33
Blended Fair Value$622.63
Current Price$19.96
Upside3,019.39%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.10%-10.37%0.690.250.250.160.350.471.061.041.372.46
YoY Growth--181.00%-1.00%59.66%-55.41%-25.45%-55.80%1.91%-24.17%-44.37%19.27%
Dividend Yield--3.77%1.73%1.82%0.97%4.30%3.48%7.24%4.42%6.16%6.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)281.31
(-) Cash Dividends Paid (M)41.49
(=) Cash Retained (M)239.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)56.2635.1621.10
Cash Retained (M)239.82239.82239.82
(-) Cash Required (M)-56.26-35.16-21.10
(=) Excess Retained (M)183.56204.66218.72
(/) Shares Outstanding (M)48.9148.9148.91
(=) Excess Retained per Share3.754.184.47
LTM Dividend per Share0.850.850.85
(+) Excess Retained per Share3.754.184.47
(=) Adjusted Dividend4.605.035.32
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Fair Value$481.21$1,071.93$1,143.83
Upside / Downside2,310.85%5,270.41%5,630.60%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)281.31299.59319.07339.80361.89385.41396.98
Payout Ratio14.75%29.80%44.85%59.90%74.95%90.00%92.50%
Projected Dividends (M)41.4989.27143.10203.54271.24346.87367.20

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)83.0383.8284.60
Year 2 PV (M)123.78126.14128.52
Year 3 PV (M)163.76168.46173.25
Year 4 PV (M)202.96210.77218.80
Year 5 PV (M)241.41253.07265.18
PV of Terminal Value (M)7,283.507,635.308,000.56
Equity Value (M)8,098.458,477.568,870.91
Shares Outstanding (M)48.9148.9148.91
Fair Value$165.58$173.33$181.37
Upside / Downside729.55%768.38%808.67%

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