Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Maverix Metals Inc. (MMX)

Company Dividend Discount ModelIndustry: Other Precious MetalsSector: Basic Materials

Valuation Snapshot

Stable Growth$0.45 - $0.61$0.53
Multi-Stage$0.63 - $0.69$0.66
Blended Fair Value$0.59
Current Price$3.35
Upside-82.25%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2021202020192018201720162015201420132012
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%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)12.30
(-) Cash Dividends Paid (M)7.35
(=) Cash Retained (M)4.95
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.461.540.92
Cash Retained (M)4.954.954.95
(-) Cash Required (M)-2.46-1.54-0.92
(=) Excess Retained (M)2.493.414.03
(/) Shares Outstanding (M)149.13149.13149.13
(=) Excess Retained per Share0.020.020.03
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.020.020.03
(=) Adjusted Dividend0.070.070.08
WACC / Discount Rate12.45%12.45%12.45%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.45$0.53$0.61
Upside / Downside-86.65%-84.15%-81.71%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)12.3012.1712.0511.9311.8111.6912.05
Payout Ratio59.73%65.78%71.84%77.89%83.95%90.00%92.50%
Projected Dividends (M)7.358.018.669.299.9210.5211.14

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.45%12.45%12.45%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)7.057.127.19
Year 2 PV (M)6.716.856.99
Year 3 PV (M)6.346.546.74
Year 4 PV (M)5.956.206.46
Year 5 PV (M)5.565.856.16
PV of Terminal Value (M)62.3265.5768.95
Equity Value (M)93.9498.13102.48
Shares Outstanding (M)149.13149.13149.13
Fair Value$0.63$0.66$0.69
Upside / Downside-81.20%-80.36%-79.49%

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