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OPmobility (OPM.PA)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$20.64 - $31.80$25.83
Multi-Stage$46.07 - $50.71$48.34
Blended Fair Value$37.09
Current Price$10.86
Upside241.49%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS-2.28%0.00%0.660.240.170.300.300.740.690.500.420.00
YoY Growth--178.95%39.29%-42.86%0.00%-59.87%7.89%36.73%19.44%0.00%0.00%
Dividend Yield--6.59%1.94%1.25%1.30%1.05%2.98%3.41%1.33%1.39%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)323.12
(-) Cash Dividends Paid (M)145.19
(=) Cash Retained (M)177.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)64.6240.3924.23
Cash Retained (M)177.93177.93177.93
(-) Cash Required (M)-64.62-40.39-24.23
(=) Excess Retained (M)113.31137.54153.70
(/) Shares Outstanding (M)143.75143.75143.75
(=) Excess Retained per Share0.790.961.07
LTM Dividend per Share1.011.011.01
(+) Excess Retained per Share0.790.961.07
(=) Adjusted Dividend1.801.972.08
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate-2.00%-1.00%0.00%
Fair Value$20.64$25.83$31.80
Upside / Downside90.05%137.85%192.82%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)323.12319.89316.69313.52310.38307.28316.50
Payout Ratio44.93%53.95%62.96%71.97%80.99%90.00%92.50%
Projected Dividends (M)145.19172.57199.39225.65251.37276.55292.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)160.34161.98163.61
Year 2 PV (M)172.13175.66179.23
Year 3 PV (M)181.00186.60192.31
Year 4 PV (M)187.35195.11203.12
Year 5 PV (M)191.51201.49211.87
PV of Terminal Value (M)5,729.666,028.026,338.68
Equity Value (M)6,622.016,948.867,288.82
Shares Outstanding (M)143.75143.75143.75
Fair Value$46.07$48.34$50.71
Upside / Downside324.20%345.13%366.91%

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