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Pareto Bank ASA (0RI3.L)

Company Dividend Discount ModelIndustry: BanksSector: Financial Services

Valuation Snapshot

Stable Growth$690.59 - $1,755.76$1,645.40
Multi-Stage$254.99 - $278.95$266.75
Blended Fair Value$956.08
Current Price$91.50
Upside944.89%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS48.81%27.93%3.843.453.132.681.790.531.200.750.000.33
YoY Growth--11.06%10.29%16.67%50.00%240.46%-56.25%60.00%0.00%-100.00%0.00%
Dividend Yield--4.88%5.85%5.89%4.09%3.78%1.85%3.34%2.02%0.00%1.12%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)689.22
(-) Cash Dividends Paid (M)345.11
(=) Cash Retained (M)344.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)137.8486.1551.69
Cash Retained (M)344.12344.12344.12
(-) Cash Required (M)-137.84-86.15-51.69
(=) Excess Retained (M)206.27257.96292.43
(/) Shares Outstanding (M)78.0778.0778.07
(=) Excess Retained per Share2.643.303.75
LTM Dividend per Share4.424.424.42
(+) Excess Retained per Share2.643.303.75
(=) Adjusted Dividend7.067.728.17
WACC / Discount Rate6.58%6.58%6.58%
Growth Rate5.50%6.50%7.50%
Fair Value$690.59$1,645.40$1,755.76
Upside / Downside654.75%1,698.25%1,818.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)689.22734.02781.74832.55886.66944.30972.63
Payout Ratio50.07%58.06%66.04%74.03%82.01%90.00%92.50%
Projected Dividends (M)345.11426.16516.28616.32727.19849.87899.68

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.58%6.58%6.58%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)396.10399.85403.60
Year 2 PV (M)446.02454.51463.09
Year 3 PV (M)494.88509.09523.57
Year 4 PV (M)542.72563.59585.06
Year 5 PV (M)589.53618.01647.57
PV of Terminal Value (M)17,437.6318,279.8819,154.36
Equity Value (M)19,906.8820,824.9321,777.24
Shares Outstanding (M)78.0778.0778.07
Fair Value$254.99$266.75$278.95
Upside / Downside178.68%191.53%204.86%

High-Yield Dividend Screener

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