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Fidelity Latin America Fund (FLATX)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$23.16 - $34.21$28.45
Multi-Stage$35.63 - $39.07$37.32
Blended Fair Value$32.88
Current Price$20.32
Upside61.83%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS0.00%18.41%1.131.061.000.960.740.000.710.520.440.29
YoY Growth--5.96%6.47%4.24%30.22%0.00%-100.00%35.91%17.35%54.99%37.51%
Dividend Yield--5.55%6.07%4.30%4.62%4.94%0.00%2.65%2.38%2.48%1.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)23,352.00
(-) Cash Dividends Paid (M)9,254.00
(=) Cash Retained (M)14,098.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,670.402,919.001,751.40
Cash Retained (M)14,098.0014,098.0014,098.00
(-) Cash Required (M)-4,670.40-2,919.00-1,751.40
(=) Excess Retained (M)9,427.6011,179.0012,346.60
(/) Shares Outstanding (M)8,062.638,062.638,062.63
(=) Excess Retained per Share1.171.391.53
LTM Dividend per Share1.151.151.15
(+) Excess Retained per Share1.171.391.53
(=) Adjusted Dividend2.322.532.68
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-0.84%0.16%1.16%
Fair Value$23.16$28.45$34.21
Upside / Downside13.95%40.00%68.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)23,352.0023,388.8323,425.7323,462.6823,499.6923,536.7524,242.86
Payout Ratio39.63%49.70%59.78%69.85%79.93%90.00%92.50%
Projected Dividends (M)9,254.0011,624.8714,003.1916,388.9918,782.2821,183.0822,424.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-0.84%0.16%1.16%
Year 1 PV (M)10,550.7910,657.1910,763.60
Year 2 PV (M)11,535.0911,768.9212,005.11
Year 3 PV (M)12,253.0212,627.4813,009.50
Year 4 PV (M)12,744.8913,266.8513,804.67
Year 5 PV (M)13,045.9013,717.1414,415.72
PV of Terminal Value (M)227,146.89238,834.07250,997.44
Equity Value (M)287,276.58300,871.66314,996.04
Shares Outstanding (M)8,062.638,062.638,062.63
Fair Value$35.63$37.32$39.07
Upside / Downside75.35%83.65%92.27%

High-Yield Dividend Screener

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