Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker / Industry / Sector

Kontron AG (SANT.DE)

Company Dividend Discount ModelIndustry: Computer HardwareSector: Technology

Valuation Snapshot

Stable Growth$125.01 - $444.11$409.91
Multi-Stage$56.31 - $61.63$58.92
Blended Fair Value$234.41
Current Price$19.46
Upside1,104.59%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.87%29.30%0.491.000.350.300.000.170.130.080.060.05
YoY Growth---51.37%184.67%16.10%0.00%-100.00%27.38%69.65%39.40%14.52%29.87%
Dividend Yield--2.50%4.83%1.83%1.78%0.00%0.96%0.58%0.43%0.54%0.74%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)141.69
(-) Cash Dividends Paid (M)36.86
(=) Cash Retained (M)104.83
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)28.3417.7110.63
Cash Retained (M)104.83104.83104.83
(-) Cash Required (M)-28.34-17.71-10.63
(=) Excess Retained (M)76.5087.1294.21
(/) Shares Outstanding (M)63.4563.4563.45
(=) Excess Retained per Share1.211.371.48
LTM Dividend per Share0.580.580.58
(+) Excess Retained per Share1.211.371.48
(=) Adjusted Dividend1.791.952.07
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.50%6.50%7.50%
Fair Value$125.01$409.91$444.11
Upside / Downside542.40%2,006.43%2,182.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)141.69150.90160.71171.15182.28194.13199.95
Payout Ratio26.01%38.81%51.61%64.40%77.20%90.00%92.50%
Projected Dividends (M)36.8658.5682.94110.23140.72174.71184.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)54.2154.7355.24
Year 2 PV (M)71.0872.4373.80
Year 3 PV (M)87.4589.9692.52
Year 4 PV (M)103.35107.33111.41
Year 5 PV (M)118.79124.52130.48
PV of Terminal Value (M)3,137.703,289.253,446.60
Equity Value (M)3,572.573,738.223,910.05
Shares Outstanding (M)63.4563.4563.45
Fair Value$56.31$58.92$61.63
Upside / Downside189.34%202.76%216.68%

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