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Atom Hoteles SOCIMI, S.A. (YATO.MC)

Company Dividend Discount ModelIndustry: REIT - Hotel & MotelSector: Real Estate

Valuation Snapshot

Stable Growth$173.60 - $822.89$381.16
Multi-Stage$95.43 - $104.21$99.74
Blended Fair Value$240.45
Current Price$14.80
Upside1,524.67%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS59.09%0.00%2.350.510.510.310.310.230.000.000.000.00
YoY Growth--362.66%0.00%63.78%0.00%34.50%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--19.24%5.20%5.20%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)133.57
(-) Cash Dividends Paid (M)92.15
(=) Cash Retained (M)41.42
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.7116.7010.02
Cash Retained (M)41.4241.4241.42
(-) Cash Required (M)-26.71-16.70-10.02
(=) Excess Retained (M)14.7124.7231.40
(/) Shares Outstanding (M)32.2832.2832.28
(=) Excess Retained per Share0.460.770.97
LTM Dividend per Share2.852.852.85
(+) Excess Retained per Share0.460.770.97
(=) Adjusted Dividend3.313.623.83
WACC / Discount Rate7.51%7.51%7.51%
Growth Rate5.50%6.50%7.50%
Fair Value$173.60$381.16$822.89
Upside / Downside1,073.01%2,475.42%5,460.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)133.57142.26151.50161.35171.84183.01188.50
Payout Ratio68.99%73.19%77.39%81.60%85.80%90.00%92.50%
Projected Dividends (M)92.15104.12117.25131.66147.43164.71174.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.51%7.51%7.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)95.9496.8597.76
Year 2 PV (M)99.55101.44103.36
Year 3 PV (M)102.99105.94108.96
Year 4 PV (M)106.26110.35114.55
Year 5 PV (M)109.38114.67120.15
PV of Terminal Value (M)2,566.572,690.542,819.25
Equity Value (M)3,080.693,219.793,364.02
Shares Outstanding (M)32.2832.2832.28
Fair Value$95.43$99.74$104.21
Upside / Downside544.80%573.92%604.11%

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