Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kalmar Oyj (KALMAR.HE)

Company Dividend Discount ModelIndustry: Integrated Freight & LogisticsSector: Industrials

Valuation Snapshot

Stable Growth$12.48 - $17.14$14.83
Multi-Stage$17.22 - $18.81$18.00
Blended Fair Value$16.42
Current Price$33.72
Upside-51.32%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.001.670.860.270.000.000.000.000.000.00
YoY Growth---99.81%94.57%213.64%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.01%6.33%0.00%0.00%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)145.00
(-) Cash Dividends Paid (M)64.00
(=) Cash Retained (M)81.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)29.0018.1310.88
Cash Retained (M)81.0081.0081.00
(-) Cash Required (M)-29.00-18.13-10.88
(=) Excess Retained (M)52.0062.8870.13
(/) Shares Outstanding (M)64.2664.2664.26
(=) Excess Retained per Share0.810.981.09
LTM Dividend per Share1.001.001.00
(+) Excess Retained per Share0.810.981.09
(=) Adjusted Dividend1.811.972.09
WACC / Discount Rate12.18%12.18%12.18%
Growth Rate-2.00%-1.00%0.00%
Fair Value$12.48$14.83$17.14
Upside / Downside-63.00%-56.02%-49.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)145.00143.55142.11140.69139.29137.89142.03
Payout Ratio44.14%53.31%62.48%71.66%80.83%90.00%92.50%
Projected Dividends (M)64.0076.5388.80100.81112.58124.10131.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.18%12.18%12.18%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)67.5368.2268.91
Year 2 PV (M)69.1470.5671.99
Year 3 PV (M)69.2771.4173.60
Year 4 PV (M)68.2671.0974.00
Year 5 PV (M)66.4069.8673.46
PV of Terminal Value (M)765.64805.51847.02
Equity Value (M)1,106.241,156.651,208.98
Shares Outstanding (M)64.2664.2664.26
Fair Value$17.22$18.00$18.81
Upside / Downside-48.95%-46.62%-44.20%

High-Yield Dividend Screener

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