Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Krones AG (KRN.DE)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$1,521.68 - $1,793.39$1,680.39
Multi-Stage$991.78 - $1,090.19$1,040.05
Blended Fair Value$1,360.22
Current Price$124.00
Upside996.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.29%0.96%2.201.751.400.060.751.701.701.561.451.25
YoY Growth--25.71%25.00%2,232.81%-92.00%-55.88%0.00%9.18%7.38%16.00%-37.50%
Dividend Yield--1.76%1.38%1.36%0.08%1.08%3.49%2.08%1.42%1.38%1.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)289.62
(-) Cash Dividends Paid (M)82.11
(=) Cash Retained (M)207.51
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)57.9236.2021.72
Cash Retained (M)207.51207.51207.51
(-) Cash Required (M)-57.92-36.20-21.72
(=) Excess Retained (M)149.59171.31185.79
(/) Shares Outstanding (M)31.5631.5631.56
(=) Excess Retained per Share4.745.435.89
LTM Dividend per Share2.602.602.60
(+) Excess Retained per Share4.745.435.89
(=) Adjusted Dividend7.348.038.49
WACC / Discount Rate1.73%1.73%1.73%
Growth Rate3.65%4.65%5.65%
Fair Value$1,521.68$1,680.39$1,793.39
Upside / Downside1,127.16%1,255.16%1,346.28%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)289.62303.08317.17331.91347.34363.49374.39
Payout Ratio28.35%40.68%53.01%65.34%77.67%90.00%92.50%
Projected Dividends (M)82.11123.29168.13216.87269.78327.14346.32

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.73%1.73%1.73%
Growth Rate3.65%4.65%5.65%
Year 1 PV (M)120.04121.20122.35
Year 2 PV (M)159.37162.46165.58
Year 3 PV (M)200.15206.00211.96
Year 4 PV (M)242.41251.90261.66
Year 5 PV (M)286.19300.26314.88
PV of Terminal Value (M)30,296.0731,786.0333,334.04
Equity Value (M)31,304.2332,827.8434,410.48
Shares Outstanding (M)31.5631.5631.56
Fair Value$991.78$1,040.05$1,090.19
Upside / Downside699.82%738.75%779.19%

High-Yield Dividend Screener

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