Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Cathay Pacific Airways Limited (0293.HK)

Company Dividend Discount ModelIndustry: Airlines, Airports & Air ServicesSector: Industrials

Valuation Snapshot

Stable Growth$33.16 - $56.84$43.40
Multi-Stage$52.78 - $57.94$55.31
Blended Fair Value$49.36
Current Price$10.70
Upside361.28%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS22.09%14.78%0.560.000.000.000.000.210.080.000.170.28
YoY Growth--0.00%0.00%0.00%0.00%-100.00%153.39%0.00%-100.00%-38.47%100.20%
Dividend Yield--5.89%0.00%0.00%0.00%0.00%2.06%0.84%0.00%1.96%2.42%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19,060.00
(-) Cash Dividends Paid (M)7,900.00
(=) Cash Retained (M)11,160.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3,812.002,382.501,429.50
Cash Retained (M)11,160.0011,160.0011,160.00
(-) Cash Required (M)-3,812.00-2,382.50-1,429.50
(=) Excess Retained (M)7,348.008,777.509,730.50
(/) Shares Outstanding (M)7,222.207,222.207,222.20
(=) Excess Retained per Share1.021.221.35
LTM Dividend per Share1.091.091.09
(+) Excess Retained per Share1.021.221.35
(=) Adjusted Dividend2.112.312.44
WACC / Discount Rate7.09%7.09%7.09%
Growth Rate0.68%1.68%2.68%
Fair Value$33.16$43.40$56.84
Upside / Downside209.91%305.61%431.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19,060.0019,380.2519,705.8820,036.9920,373.6520,715.9721,337.45
Payout Ratio41.45%51.16%60.87%70.58%80.29%90.00%92.50%
Projected Dividends (M)7,900.009,914.6411,994.7414,141.9516,357.9318,644.3819,737.15

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.09%7.09%7.09%
Growth Rate0.68%1.68%2.68%
Year 1 PV (M)9,167.149,258.199,349.25
Year 2 PV (M)10,254.2810,458.9910,665.73
Year 3 PV (M)11,178.4311,514.8411,857.93
Year 4 PV (M)11,955.2012,437.3112,933.84
Year 5 PV (M)12,598.9413,237.1813,901.03
PV of Terminal Value (M)326,066.40342,584.46359,765.26
Equity Value (M)381,220.40399,490.97418,473.03
Shares Outstanding (M)7,222.207,222.207,222.20
Fair Value$52.78$55.31$57.94
Upside / Downside393.31%416.96%441.52%

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%