Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

CTP N.V. (CTPNV.AS)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$29.98 - $50.69$39.02
Multi-Stage$113.32 - $125.16$119.12
Blended Fair Value$79.07
Current Price$18.96
Upside317.06%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%0.320.340.260.010.000.000.410.000.000.00
YoY Growth---7.68%32.26%2,149.23%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.92%2.10%2.18%0.08%0.00%0.00%2.93%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,207.20
(-) Cash Dividends Paid (M)154.90
(=) Cash Retained (M)1,052.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)241.44150.9090.54
Cash Retained (M)1,052.301,052.301,052.30
(-) Cash Required (M)-241.44-150.90-90.54
(=) Excess Retained (M)810.86901.40961.76
(/) Shares Outstanding (M)476.75476.75476.75
(=) Excess Retained per Share1.701.892.02
LTM Dividend per Share0.320.320.32
(+) Excess Retained per Share1.701.892.02
(=) Adjusted Dividend2.032.222.34
WACC / Discount Rate4.62%4.62%4.62%
Growth Rate-2.00%-1.00%0.00%
Fair Value$29.98$39.02$50.69
Upside / Downside58.15%105.83%167.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,207.201,195.131,183.181,171.341,159.631,148.041,182.48
Payout Ratio12.83%28.27%43.70%59.13%74.57%90.00%92.50%
Projected Dividends (M)154.90337.80517.03692.65864.691,033.231,093.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.62%4.62%4.62%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)319.62322.88326.15
Year 2 PV (M)462.88472.37481.96
Year 3 PV (M)586.72604.87623.38
Year 4 PV (M)693.04721.76751.37
Year 5 PV (M)783.55824.35866.83
PV of Terminal Value (M)51,180.3053,845.3856,620.34
Equity Value (M)54,026.1056,791.6159,670.02
Shares Outstanding (M)476.75476.75476.75
Fair Value$113.32$119.12$125.16
Upside / Downside497.69%528.28%560.13%

High-Yield Dividend Screener

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