Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Flügger group A/S (FLUG-B.CO)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$259.01 - $458.77$343.52
Multi-Stage$495.22 - $544.35$519.31
Blended Fair Value$431.42
Current Price$316.00
Upside36.52%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-5.29%-5.17%7.345.009.9814.729.649.6314.4414.4114.3914.39
YoY Growth--46.84%-49.94%-32.19%52.68%0.15%-33.32%0.21%0.10%0.00%15.38%
Dividend Yield--2.32%1.47%2.94%2.97%1.29%2.60%4.78%3.79%3.83%3.99%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)58.00
(-) Cash Dividends Paid (M)27.00
(=) Cash Retained (M)31.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11.607.254.35
Cash Retained (M)31.0031.0031.00
(-) Cash Required (M)-11.60-7.25-4.35
(=) Excess Retained (M)19.4023.7526.65
(/) Shares Outstanding (M)3.003.003.00
(=) Excess Retained per Share6.477.928.89
LTM Dividend per Share9.009.009.00
(+) Excess Retained per Share6.477.928.89
(=) Adjusted Dividend15.4716.9317.89
WACC / Discount Rate6.16%6.16%6.16%
Growth Rate0.17%1.17%2.17%
Fair Value$259.01$343.52$458.77
Upside / Downside-18.03%8.71%45.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)58.0058.6859.3760.0660.7761.4863.32
Payout Ratio46.55%55.24%63.93%72.62%81.31%90.00%92.50%
Projected Dividends (M)27.0032.4237.9543.6249.4155.3358.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.16%6.16%6.16%
Growth Rate0.17%1.17%2.17%
Year 1 PV (M)30.2330.5430.84
Year 2 PV (M)33.0233.6834.35
Year 3 PV (M)35.3936.4637.55
Year 4 PV (M)37.3938.9140.47
Year 5 PV (M)39.0541.0443.11
PV of Terminal Value (M)1,309.821,376.521,445.90
Equity Value (M)1,484.911,557.141,632.22
Shares Outstanding (M)3.003.003.00
Fair Value$495.22$519.31$544.35
Upside / Downside56.72%64.34%72.26%

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