Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Quebecor Inc. (QBR-A.TO)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$90.79 - $280.49$145.15
Multi-Stage$86.62 - $94.91$90.69
Blended Fair Value$117.92
Current Price$43.82
Upside169.10%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS24.66%37.72%1.301.191.221.150.870.430.200.110.090.07
YoY Growth--8.95%-1.77%5.42%33.07%100.50%116.63%83.00%21.63%30.00%30.08%
Dividend Yield--3.58%4.02%3.64%3.87%2.57%1.39%0.61%0.44%0.44%0.40%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)822.20
(-) Cash Dividends Paid (M)317.60
(=) Cash Retained (M)504.60
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)164.44102.7861.67
Cash Retained (M)504.60504.60504.60
(-) Cash Required (M)-164.44-102.78-61.67
(=) Excess Retained (M)340.16401.83442.94
(/) Shares Outstanding (M)232.13232.13232.13
(=) Excess Retained per Share1.471.731.91
LTM Dividend per Share1.371.371.37
(+) Excess Retained per Share1.471.731.91
(=) Adjusted Dividend2.833.103.28
WACC / Discount Rate6.83%6.83%6.83%
Growth Rate3.60%4.60%5.60%
Fair Value$90.79$145.15$280.49
Upside / Downside107.18%231.23%540.10%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)822.20860.02899.58940.96984.241,029.511,060.39
Payout Ratio38.63%48.90%59.18%69.45%79.73%90.00%92.50%
Projected Dividends (M)317.60420.57532.34653.51784.69926.56980.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.83%6.83%6.83%
Growth Rate3.60%4.60%5.60%
Year 1 PV (M)389.91393.67397.43
Year 2 PV (M)457.54466.42475.38
Year 3 PV (M)520.73535.96551.48
Year 4 PV (M)579.67602.38625.75
Year 5 PV (M)634.57665.80698.24
PV of Terminal Value (M)17,524.7618,387.0319,282.92
Equity Value (M)20,107.1921,051.2622,031.20
Shares Outstanding (M)232.13232.13232.13
Fair Value$86.62$90.69$94.91
Upside / Downside97.68%106.96%116.59%

High-Yield Dividend Screener

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