Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

The Merchants Trust Plc (MRCH.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$16.50 - $33.10$22.95
Multi-Stage$16.77 - $18.32$17.53
Blended Fair Value$20.24
Current Price$5.50
Upside268.06%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.86%5.57%0.290.270.240.230.210.200.190.180.180.18
YoY Growth--4.77%12.11%8.19%5.98%8.41%5.59%3.67%2.08%0.00%5.36%
Dividend Yield--5.17%5.06%4.14%3.95%4.88%3.70%3.96%3.69%3.89%4.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)142.89
(-) Cash Dividends Paid (M)85.19
(=) Cash Retained (M)57.71
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)28.5817.8610.72
Cash Retained (M)57.7157.7157.71
(-) Cash Required (M)-28.58-17.86-10.72
(=) Excess Retained (M)29.1339.8546.99
(/) Shares Outstanding (M)148.04148.04148.04
(=) Excess Retained per Share0.200.270.32
LTM Dividend per Share0.580.580.58
(+) Excess Retained per Share0.200.270.32
(=) Adjusted Dividend0.770.840.89
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate3.57%4.57%5.57%
Fair Value$16.50$22.95$33.10
Upside / Downside199.96%317.34%501.83%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)142.89149.42156.24163.38170.84178.65184.01
Payout Ratio59.61%65.69%71.77%77.85%83.92%90.00%92.50%
Projected Dividends (M)85.1998.16112.14127.19143.38160.78170.20

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate3.57%4.57%5.57%
Year 1 PV (M)89.6790.5491.40
Year 2 PV (M)93.5995.4097.24
Year 3 PV (M)96.9799.81102.70
Year 4 PV (M)99.87103.78107.81
Year 5 PV (M)102.31107.35112.58
PV of Terminal Value (M)2,000.202,098.642,200.93
Equity Value (M)2,482.612,595.532,712.66
Shares Outstanding (M)148.04148.04148.04
Fair Value$16.77$17.53$18.32
Upside / Downside204.91%218.78%233.17%

High-Yield Dividend Screener

« Prev Page 4 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
VKQInvesco Municipal Trust8.62%$0.8469.07%
ARCCAres Capital Corporation8.61%$1.7691.56%
TPVGTriplePoint Venture Growth BDC Corp.8.52%$0.5767.26%
C-PJCitigroup Inc.8.49%$2.1326.99%
RVTRoyce Value Trust Inc.8.42%$1.3639.40%
OGNOrganon & Co.8.37%$0.6131.54%
MITTAG Mortgage Investment Trust, Inc.8.12%$0.7043.47%
CAGConagra Brands, Inc.8.06%$1.3978.70%
NOGNorthern Oil and Gas, Inc.8.02%$1.7794.64%
PAAPlains All American Pipeline, L.P.8.00%$1.4690.71%
TSLXSixth Street Specialty Lending, Inc.8.00%$1.7385.26%
ACCOACCO Brands Corporation7.90%$0.2967.00%
ETDEthan Allen Interiors Inc.7.90%$1.8197.75%
CQPCheniere Energy Partners, L.P.7.82%$4.2388.03%
UNMAUnum Group 6.250% JR NT587.69%$1.7933.52%
WRB-PHW.R. Berkley Corporation 4.125%7.68%$1.2726.69%
JHSJohn Hancock Income Securities Trust7.65%$0.8994.90%
NIDNuveen Intermediate Duration Municipal Term Fund7.59%$1.0284.59%
HWCPZHancock Whitney Corporation - 67.58%$1.7731.35%
WRB-PGW.R. Berkley Corporation 4.25%7.54%$1.2726.69%
NMTNuveen Massachusetts Quality Municipal Income Fund7.48%$0.8580.62%
LOANManhattan Bridge Capital, Inc.7.45%$0.3574.53%
OPALOPAL Fuels Inc.7.43%$0.1846.94%
ZIONLZions Bancorporation N.A. - 6.97.42%$1.8632.04%
GMTAGATX Corporation SR NT 20667.41%$1.8621.29%
IIMInvesco Value Municipal Income Trust7.41%$0.9264.33%
JMMNuveen Multi-Market Income Fund7.28%$0.4461.06%
BKEThe Buckle, Inc.7.26%$3.9196.21%
MHIPioneer Municipal High Income Fund, Inc.7.19%$0.6413.70%
ORIOld Republic International Corporation7.19%$3.1193.13%
PMFPIMCO Municipal Income Fund7.07%$0.5992.59%
RYNRayonier Inc.7.04%$1.5230.67%
DRQDril-Quip, Inc.7.02%$1.0850.37%
TRINITrinity Capital Inc. 7.875% Notes Due 20297.02%$1.7883.48%
C-PNCitigroup Capital XIII TR PFD SECS7.01%$2.1326.99%
VPVInvesco Pennsylvania Value Municipal Income Trust6.98%$0.7360.22%
VCVInvesco California Value Municipal Income Trust6.97%$0.7860.58%
EOTEaton Vance National Municipal Opportunities Trust6.96%$1.1869.84%
FLATXFidelity Latin America Fund6.92%$1.1539.63%
EGYVAALCO Energy, Inc.6.91%$0.2592.67%
NOMNuveen Missouri Quality Municipal Income Fund6.91%$0.8278.81%
UBCPUnited Bancorp, Inc.6.90%$0.9996.30%
TBCAT&T Inc. 5.625% Global Notes d6.89%$1.7255.65%
GTNGray Media, Inc.6.87%$0.3334.04%
HEPHolly Energy Partners, L.P.6.86%$1.4074.08%
AFGAmerican Financial Group, Inc.6.85%$9.2396.49%
BANFPBFC Capital Trust II PFD TR 7.20%6.85%$1.8025.72%
CFG-PDCitizens Financial Group, Inc.6.83%$1.7143.60%
RCIIRent-A-Center, Inc.6.81%$1.8279.98%
SPHSuburban Propane Partners, L.P.6.81%$1.2778.56%