Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

WSFS Financial Corporation (WSFS)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$113.89 - $305.53$174.75
Multi-Stage$76.70 - $83.86$80.22
Blended Fair Value$127.48
Current Price$53.93
Upside136.38%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.77%22.66%0.620.630.620.420.420.390.230.160.130.10
YoY Growth---2.55%2.79%47.45%-0.52%8.49%69.54%40.57%23.49%27.16%29.24%
Dividend Yield--1.19%1.44%1.64%0.90%0.84%1.56%0.58%0.34%0.29%0.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)278.87
(-) Cash Dividends Paid (M)36.73
(=) Cash Retained (M)242.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)55.7734.8620.92
Cash Retained (M)242.14242.14242.14
(-) Cash Required (M)-55.77-34.86-20.92
(=) Excess Retained (M)186.37207.28221.22
(/) Shares Outstanding (M)57.9557.9557.95
(=) Excess Retained per Share3.223.583.82
LTM Dividend per Share0.630.630.63
(+) Excess Retained per Share3.223.583.82
(=) Adjusted Dividend3.854.214.45
WACC / Discount Rate9.07%9.07%9.07%
Growth Rate5.50%6.50%7.50%
Fair Value$113.89$174.75$305.53
Upside / Downside111.17%224.02%466.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)278.87297.00316.30336.86358.76382.08393.54
Payout Ratio13.17%28.54%43.90%59.27%74.63%90.00%92.50%
Projected Dividends (M)36.7384.76138.87199.66267.76343.87364.03

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.07%9.07%9.07%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)76.9877.7178.44
Year 2 PV (M)114.56116.74118.94
Year 3 PV (M)149.60153.89158.27
Year 4 PV (M)182.22189.23196.44
Year 5 PV (M)212.55222.82233.48
PV of Terminal Value (M)3,709.273,888.434,074.44
Equity Value (M)4,445.174,648.814,860.00
Shares Outstanding (M)57.9557.9557.95
Fair Value$76.70$80.22$83.86
Upside / Downside42.22%48.74%55.50%

High-Yield Dividend Screener

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