Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Mirgor Sociedad AnĂ³nima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (MIRG.BA)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$22,296.85 - $47,409.99$31,688.65
Multi-Stage$100,436.99 - $111,009.45$105,617.02
Blended Fair Value$68,652.83
Current Price$15,050.00
Upside356.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.0065.61126.3964.760.005.570.000.000.000.00
YoY Growth---100.00%-48.09%95.15%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.50%2.39%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)74,739.00
(-) Cash Dividends Paid (M)6,538.00
(=) Cash Retained (M)68,201.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14,947.809,342.385,605.43
Cash Retained (M)68,201.0068,201.0068,201.00
(-) Cash Required (M)-14,947.80-9,342.38-5,605.43
(=) Excess Retained (M)53,253.2058,858.6362,595.58
(/) Shares Outstanding (M)58.4958.4958.49
(=) Excess Retained per Share910.501,006.341,070.23
LTM Dividend per Share111.78111.78111.78
(+) Excess Retained per Share910.501,006.341,070.23
(=) Adjusted Dividend1,022.281,118.121,182.01
WACC / Discount Rate2.49%2.49%2.49%
Growth Rate-2.00%-1.00%0.00%
Fair Value$22,296.85$31,688.65$47,409.99
Upside / Downside48.15%110.56%215.02%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)74,739.0073,991.6173,251.6972,519.1871,793.9971,076.0573,208.33
Payout Ratio8.75%25.00%41.25%57.50%73.75%90.00%92.50%
Projected Dividends (M)6,538.0018,496.5930,215.3541,697.8852,947.7463,968.4467,717.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.49%2.49%2.49%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)17,864.3618,046.6518,228.94
Year 2 PV (M)28,185.0928,763.2329,347.24
Year 3 PV (M)37,566.5938,728.3739,913.85
Year 4 PV (M)46,071.3847,980.8349,949.02
Year 5 PV (M)53,758.2956,557.6159,472.35
PV of Terminal Value (M)5,690,912.775,987,251.806,295,809.09
Equity Value (M)5,874,358.496,177,328.496,492,720.49
Shares Outstanding (M)58.4958.4958.49
Fair Value$100,436.99$105,617.02$111,009.45
Upside / Downside567.36%601.77%637.60%

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