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Orell Füssli AG (0QME.L)

Company Dividend Discount ModelIndustry: Specialty Business ServicesSector: Industrials

Valuation Snapshot

Stable Growth$132.86 - $205.51$166.55
Multi-Stage$305.47 - $336.08$320.48
Blended Fair Value$243.52
Current Price$96.80
Upside151.57%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-8.24%0.00%3.903.403.403.006.006.004.004.004.000.00
YoY Growth--14.71%0.03%13.32%-50.00%0.03%50.01%-0.01%-0.05%0.00%0.00%
Dividend Yield--5.06%4.52%4.14%3.33%5.61%6.03%4.59%3.54%3.20%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)28.00
(-) Cash Dividends Paid (M)16.27
(=) Cash Retained (M)11.73
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.603.502.10
Cash Retained (M)11.7311.7311.73
(-) Cash Required (M)-5.60-3.50-2.10
(=) Excess Retained (M)6.138.239.63
(/) Shares Outstanding (M)1.961.961.96
(=) Excess Retained per Share3.134.204.91
LTM Dividend per Share8.308.308.30
(+) Excess Retained per Share3.134.204.91
(=) Adjusted Dividend11.4312.5013.21
WACC / Discount Rate6.43%6.43%6.43%
Growth Rate-2.00%-1.00%0.00%
Fair Value$132.86$166.55$205.51
Upside / Downside37.25%72.06%112.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)28.0027.7227.4427.1726.9026.6327.43
Payout Ratio58.10%64.48%70.86%77.24%83.62%90.00%92.50%
Projected Dividends (M)16.2717.8719.4520.9822.4923.9625.37

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.43%6.43%6.43%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)16.6216.7916.96
Year 2 PV (M)16.8217.1717.52
Year 3 PV (M)16.8817.4117.94
Year 4 PV (M)16.8317.5318.25
Year 5 PV (M)16.6817.5518.45
PV of Terminal Value (M)514.93541.74569.66
Equity Value (M)598.77628.19658.78
Shares Outstanding (M)1.961.961.96
Fair Value$305.47$320.48$336.08
Upside / Downside215.57%231.07%247.19%

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