Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Brookfield Wealth Solutions Ltd. (BNT)

Company Dividend Discount ModelIndustry: Insurance - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$36.73 - $52.00$44.27
Multi-Stage$53.74 - $59.07$56.36
Blended Fair Value$50.31
Current Price$41.19
Upside22.15%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%0.000.020.020.030.000.000.000.000.000.00
YoY Growth---100.00%-11.64%-27.33%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.08%0.11%0.09%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)1,321.00
(-) Cash Dividends Paid (M)107.79
(=) Cash Retained (M)1,213.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)264.20165.1399.08
Cash Retained (M)1,213.211,213.211,213.21
(-) Cash Required (M)-264.20-165.13-99.08
(=) Excess Retained (M)949.011,048.081,114.13
(/) Shares Outstanding (M)235.10235.10235.10
(=) Excess Retained per Share4.044.464.74
LTM Dividend per Share0.460.460.46
(+) Excess Retained per Share4.044.464.74
(=) Adjusted Dividend4.504.925.20
WACC / Discount Rate9.99%9.99%9.99%
Growth Rate-2.00%-1.00%0.00%
Fair Value$36.73$44.27$52.00
Upside / Downside-10.83%7.48%26.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,321.001,307.791,294.711,281.761,268.951,256.261,293.95
Payout Ratio8.16%24.53%40.90%57.26%73.63%90.00%92.50%
Projected Dividends (M)107.79320.77529.48733.99934.351,130.631,196.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.99%9.99%9.99%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)288.68291.63294.57
Year 2 PV (M)428.84437.64446.52
Year 3 PV (M)535.00551.54568.43
Year 4 PV (M)612.90638.31664.49
Year 5 PV (M)667.46702.22738.40
PV of Terminal Value (M)10,102.2010,628.2511,175.98
Equity Value (M)12,635.0813,249.5713,888.39
Shares Outstanding (M)235.10235.10235.10
Fair Value$53.74$56.36$59.07
Upside / Downside30.48%36.82%43.42%

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