Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

MPC Container Ships ASA (MPCC.OL)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$4.26 - $6.21$5.20
Multi-Stage$7.54 - $8.28$7.90
Blended Fair Value$6.55
Current Price$1.65
Upside297.16%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS0.00%0.00%0.460.660.990.000.000.000.000.000.000.00
YoY Growth---30.28%-33.53%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--30.50%57.95%62.51%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)252.99
(-) Cash Dividends Paid (M)142.10
(=) Cash Retained (M)110.88
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)50.6031.6218.97
Cash Retained (M)110.88110.88110.88
(-) Cash Required (M)-50.60-31.62-18.97
(=) Excess Retained (M)60.2979.2691.91
(/) Shares Outstanding (M)443.70443.70443.70
(=) Excess Retained per Share0.140.180.21
LTM Dividend per Share0.320.320.32
(+) Excess Retained per Share0.140.180.21
(=) Adjusted Dividend0.460.500.53
WACC / Discount Rate8.49%8.49%8.49%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.26$5.20$6.21
Upside / Downside158.23%215.38%276.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)252.99250.46247.95245.47243.02240.59247.81
Payout Ratio56.17%62.94%69.70%76.47%83.23%90.00%92.50%
Projected Dividends (M)142.10157.63172.83187.71202.27216.53229.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.49%8.49%8.49%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)143.82145.29146.76
Year 2 PV (M)143.88146.83149.81
Year 3 PV (M)142.58146.99151.49
Year 4 PV (M)140.19146.00151.99
Year 5 PV (M)136.93144.06151.48
PV of Terminal Value (M)2,639.672,777.132,920.25
Equity Value (M)3,347.083,506.313,671.79
Shares Outstanding (M)443.70443.70443.70
Fair Value$7.54$7.90$8.28
Upside / Downside357.19%378.93%401.54%

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