Definitive Analysis
Definitive Analysis

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Ticker

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Administradora de Fondos de Pensiones Habitat S.A. (HABITAT.SN)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$1,433.96 - $2,210.21$1,794.85
Multi-Stage$2,860.65 - $3,140.58$2,997.91
Blended Fair Value$2,396.38
Current Price$1,090.50
Upside119.75%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS13.05%0.00%119.97107.97119.97109.9730.5364.980.000.000.000.00
YoY Growth--11.11%-10.00%9.09%260.24%-53.02%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--10.91%12.26%22.64%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)154,999.90
(-) Cash Dividends Paid (M)110,000.00
(=) Cash Retained (M)44,999.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)30,999.9819,374.9911,624.99
Cash Retained (M)44,999.9044,999.9044,999.90
(-) Cash Required (M)-30,999.98-19,374.99-11,624.99
(=) Excess Retained (M)13,999.9225,624.9133,374.91
(/) Shares Outstanding (M)1,000.261,000.261,000.26
(=) Excess Retained per Share14.0025.6233.37
LTM Dividend per Share109.97109.97109.97
(+) Excess Retained per Share14.0025.6233.37
(=) Adjusted Dividend123.97135.59143.34
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate-1.40%-0.40%0.60%
Fair Value$1,433.96$1,794.85$2,210.21
Upside / Downside31.50%64.59%102.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)154,999.90154,383.92153,770.40153,159.31152,550.65151,944.41156,502.74
Payout Ratio70.97%74.77%78.58%82.39%86.19%90.00%92.50%
Projected Dividends (M)110,000.00115,439.39120,833.81126,183.54131,488.83136,749.97144,765.04

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.13%7.13%7.13%
Growth Rate-1.40%-0.40%0.60%
Year 1 PV (M)106,677.56107,759.45108,841.34
Year 2 PV (M)103,187.37105,290.98107,415.81
Year 3 PV (M)99,577.17102,637.65105,760.21
Year 4 PV (M)95,888.1699,837.62103,907.84
Year 5 PV (M)92,155.7496,924.58101,888.83
PV of Terminal Value (M)2,363,913.452,486,240.372,613,579.79
Equity Value (M)2,861,399.432,998,690.643,141,393.82
Shares Outstanding (M)1,000.261,000.261,000.26
Fair Value$2,860.65$2,997.91$3,140.58
Upside / Downside162.32%174.91%187.99%

High-Yield Dividend Screener

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