Definitive Analysis
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Definitive Analysis

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Ticker

Industry

Sector

Consti Oyj (CONSTI.HE)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$8.23 - $13.13$10.45
Multi-Stage$18.07 - $19.85$18.94
Blended Fair Value$14.70
Current Price$10.30
Upside42.68%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.690.580.430.380.150.000.000.510.370.00
YoY Growth--19.05%33.30%13.46%149.43%0.00%0.00%-100.00%39.27%0.00%0.00%
Dividend Yield--6.18%5.57%3.54%3.31%1.17%0.00%0.00%6.34%2.60%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)6.44
(-) Cash Dividends Paid (M)5.14
(=) Cash Retained (M)1.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.290.810.48
Cash Retained (M)1.301.301.30
(-) Cash Required (M)-1.29-0.81-0.48
(=) Excess Retained (M)0.010.490.81
(/) Shares Outstanding (M)8.068.068.06
(=) Excess Retained per Share0.000.060.10
LTM Dividend per Share0.640.640.64
(+) Excess Retained per Share0.000.060.10
(=) Adjusted Dividend0.640.700.74
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-1.26%-0.26%0.74%
Fair Value$8.23$10.45$13.13
Upside / Downside-20.12%1.47%27.44%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)6.446.426.416.396.376.366.55
Payout Ratio79.88%81.90%83.93%85.95%87.98%90.00%92.50%
Projected Dividends (M)5.145.265.385.495.615.726.06

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-1.26%-0.26%0.74%
Year 1 PV (M)4.894.944.99
Year 2 PV (M)4.654.754.84
Year 3 PV (M)4.424.564.70
Year 4 PV (M)4.204.374.55
Year 5 PV (M)3.994.194.41
PV of Terminal Value (M)123.38129.76136.39
Equity Value (M)145.54152.57159.88
Shares Outstanding (M)8.068.068.06
Fair Value$18.07$18.94$19.85
Upside / Downside75.41%83.89%92.70%

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