Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Multitude SE (0R4W.L)

Company Dividend Discount ModelIndustry: Financial - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$5.03 - $7.55$6.23
Multi-Stage$19.22 - $21.27$20.22
Blended Fair Value$13.23
Current Price$5.04
Upside162.40%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS-7.81%12.61%0.120.000.000.000.180.180.120.100.050.03
YoY Growth--0.00%0.00%0.00%-100.00%-0.15%49.96%20.20%100.00%55.25%-12.03%
Dividend Yield--2.38%0.00%0.00%0.00%4.34%1.52%0.47%0.53%0.21%0.14%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)13.38
(-) Cash Dividends Paid (M)2.59
(=) Cash Retained (M)10.79
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.681.671.00
Cash Retained (M)10.7910.7910.79
(-) Cash Required (M)-2.68-1.67-1.00
(=) Excess Retained (M)8.119.129.79
(/) Shares Outstanding (M)21.6121.6121.61
(=) Excess Retained per Share0.380.420.45
LTM Dividend per Share0.120.120.12
(+) Excess Retained per Share0.380.420.45
(=) Adjusted Dividend0.500.540.57
WACC / Discount Rate5.07%5.07%5.07%
Growth Rate-4.34%-3.34%-2.34%
Fair Value$5.03$6.23$7.55
Upside / Downside-0.11%23.52%49.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)13.3812.9312.5012.0811.6811.2911.63
Payout Ratio19.36%33.49%47.62%61.74%75.87%90.00%92.50%
Projected Dividends (M)2.594.335.957.468.8610.1610.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.07%5.07%5.07%
Growth Rate-4.34%-3.34%-2.34%
Year 1 PV (M)4.084.124.17
Year 2 PV (M)5.285.395.50
Year 3 PV (M)6.246.436.63
Year 4 PV (M)6.987.277.58
Year 5 PV (M)7.537.948.35
PV of Terminal Value (M)385.40405.97427.41
Equity Value (M)415.51437.13459.65
Shares Outstanding (M)21.6121.6121.61
Fair Value$19.22$20.22$21.27
Upside / Downside281.44%301.29%321.96%

High-Yield Dividend Screener

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