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Caisse Régionale de Crédit Agricole Mutuel de La Touraine et du Poitou Société Coopérative (CRTO.PA)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$300.61 - $472.50$379.46
Multi-Stage$567.70 - $624.39$595.49
Blended Fair Value$487.47
Current Price$95.50
Upside410.44%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.78%5.66%3.262.942.202.052.102.142.011.881.042.00
YoY Growth--11.13%33.28%7.28%-2.31%-1.89%6.76%7.03%79.97%-47.95%6.32%
Dividend Yield--4.13%4.09%3.83%2.51%2.14%1.67%1.79%1.97%1.31%2.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)190.52
(-) Cash Dividends Paid (M)59.28
(=) Cash Retained (M)131.24
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)38.1023.8114.29
Cash Retained (M)131.24131.24131.24
(-) Cash Required (M)-38.10-23.81-14.29
(=) Excess Retained (M)93.14107.43116.95
(/) Shares Outstanding (M)6.266.266.26
(=) Excess Retained per Share14.8717.1618.68
LTM Dividend per Share9.479.479.47
(+) Excess Retained per Share14.8717.1618.68
(=) Adjusted Dividend24.3426.6228.14
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate-1.00%0.00%1.00%
Fair Value$300.61$379.46$472.50
Upside / Downside214.78%297.34%394.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)190.52190.51190.51190.50190.50190.49196.21
Payout Ratio31.11%42.89%54.67%66.45%78.22%90.00%92.50%
Projected Dividends (M)59.2881.71104.15126.58149.01171.44181.49

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate-1.00%0.00%1.00%
Year 1 PV (M)75.5976.3677.12
Year 2 PV (M)89.1390.9492.77
Year 3 PV (M)100.22103.29106.42
Year 4 PV (M)109.15113.62118.24
Year 5 PV (M)116.17122.16128.39
PV of Terminal Value (M)3,064.523,222.453,386.83
Equity Value (M)3,554.783,728.833,909.77
Shares Outstanding (M)6.266.266.26
Fair Value$567.70$595.49$624.39
Upside / Downside494.45%523.55%553.81%

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