Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wienerberger AG (WIE.VI)

Company Dividend Discount ModelIndustry: Construction MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$41.49 - $119.89$65.09
Multi-Stage$41.77 - $45.74$43.72
Blended Fair Value$54.40
Current Price$31.62
Upside72.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.85%21.93%0.910.860.760.610.610.520.310.290.210.16
YoY Growth--5.73%13.09%24.51%0.00%17.57%64.57%10.24%35.00%33.34%27.05%
Dividend Yield--2.95%2.60%2.84%2.22%1.95%3.60%1.66%1.40%1.06%0.94%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)187.39
(-) Cash Dividends Paid (M)103.74
(=) Cash Retained (M)83.65
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.4823.4214.05
Cash Retained (M)83.6583.6583.65
(-) Cash Required (M)-37.48-23.42-14.05
(=) Excess Retained (M)46.1760.2269.59
(/) Shares Outstanding (M)110.66110.66110.66
(=) Excess Retained per Share0.420.540.63
LTM Dividend per Share0.940.940.94
(+) Excess Retained per Share0.420.540.63
(=) Adjusted Dividend1.351.481.57
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate3.44%4.44%5.44%
Fair Value$41.49$65.09$119.89
Upside / Downside31.21%105.84%279.17%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)187.39195.72204.42213.50222.99232.90239.89
Payout Ratio55.36%62.29%69.22%76.14%83.07%90.00%92.50%
Projected Dividends (M)103.74121.91141.49162.57185.25209.61221.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate3.44%4.44%5.44%
Year 1 PV (M)113.03114.13115.22
Year 2 PV (M)121.63124.00126.38
Year 3 PV (M)129.58133.37137.24
Year 4 PV (M)136.89142.26147.79
Year 5 PV (M)143.62150.70158.05
PV of Terminal Value (M)3,977.564,173.564,377.22
Equity Value (M)4,622.314,838.025,061.90
Shares Outstanding (M)110.66110.66110.66
Fair Value$41.77$43.72$45.74
Upside / Downside32.10%38.26%44.66%

High-Yield Dividend Screener

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