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Kid ASA (0RCW.L)

Company Dividend Discount ModelIndustry: Specialty RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$404.89 - $1,597.45$1,109.92
Multi-Stage$205.43 - $224.16$214.63
Blended Fair Value$662.27
Current Price$155.60
Upside325.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS15.23%0.00%6.505.756.509.007.003.202.503.001.500.00
YoY Growth--13.04%-11.54%-27.78%28.59%118.72%28.00%-16.67%100.00%0.00%0.00%
Dividend Yield--4.33%4.07%7.66%8.74%7.01%7.98%5.95%7.87%3.73%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)326.48
(-) Cash Dividends Paid (M)325.16
(=) Cash Retained (M)1.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)65.3040.8124.49
Cash Retained (M)1.321.321.32
(-) Cash Required (M)-65.30-40.81-24.49
(=) Excess Retained (M)-63.98-39.49-23.17
(/) Shares Outstanding (M)40.6540.6540.65
(=) Excess Retained per Share-1.57-0.97-0.57
LTM Dividend per Share8.008.008.00
(+) Excess Retained per Share-1.57-0.97-0.57
(=) Adjusted Dividend6.437.037.43
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Fair Value$404.89$1,109.92$1,597.45
Upside / Downside160.21%613.32%926.64%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)326.48347.70370.30394.37420.00447.30460.72
Payout Ratio99.60%97.68%95.76%93.84%91.92%90.00%92.50%
Projected Dividends (M)325.16339.62354.59370.07386.06402.57426.17

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)313.91316.89319.86
Year 2 PV (M)302.94308.71314.53
Year 3 PV (M)292.23300.62309.16
Year 4 PV (M)281.78292.61303.76
Year 5 PV (M)271.58284.70298.32
PV of Terminal Value (M)6,887.277,219.927,565.31
Equity Value (M)8,349.708,723.459,110.95
Shares Outstanding (M)40.6540.6540.65
Fair Value$205.43$214.63$224.16
Upside / Downside32.02%37.93%44.06%

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