Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Corporación Acciona Energías Renovables, S.A. (ANE.MC)

Company Dividend Discount ModelIndustry: Renewable UtilitiesSector: Utilities

Valuation Snapshot

Stable Growth$31.09 - $55.26$41.29
Multi-Stage$57.48 - $63.24$60.31
Blended Fair Value$50.80
Current Price$19.60
Upside159.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS8.70%0.00%0.580.880.390.800.330.380.110.000.000.00
YoY Growth---34.27%125.20%-51.34%144.38%-13.80%247.06%0.00%0.00%0.00%0.00%
Dividend Yield--3.42%4.41%1.10%0.00%1.12%1.30%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)747.00
(-) Cash Dividends Paid (M)143.00
(=) Cash Retained (M)604.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)149.4093.3856.03
Cash Retained (M)604.00604.00604.00
(-) Cash Required (M)-149.40-93.38-56.03
(=) Excess Retained (M)454.60510.63547.98
(/) Shares Outstanding (M)324.29324.29324.29
(=) Excess Retained per Share1.401.571.69
LTM Dividend per Share0.440.440.44
(+) Excess Retained per Share1.401.571.69
(=) Adjusted Dividend1.842.022.13
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate0.24%1.24%2.24%
Fair Value$31.09$41.29$55.26
Upside / Downside58.60%110.65%181.93%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)747.00756.29765.70775.22784.87794.63818.47
Payout Ratio19.14%33.31%47.49%61.66%75.83%90.00%92.50%
Projected Dividends (M)143.00251.96363.60477.98595.15715.17757.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate0.24%1.24%2.24%
Year 1 PV (M)234.93237.28239.62
Year 2 PV (M)316.13322.47328.87
Year 3 PV (M)387.50399.21411.16
Year 4 PV (M)449.89468.12486.89
Year 5 PV (M)504.09529.74556.42
PV of Terminal Value (M)16,747.2917,599.4518,485.95
Equity Value (M)18,639.8319,556.2620,508.90
Shares Outstanding (M)324.29324.29324.29
Fair Value$57.48$60.31$63.24
Upside / Downside193.26%207.68%222.67%

High-Yield Dividend Screener

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