Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Retal Urban Development Company (4322.SR)

Company Dividend Discount ModelIndustry: Real Estate - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$4.03 - $5.82$4.90
Multi-Stage$6.79 - $7.45$7.11
Blended Fair Value$6.01
Current Price$11.99
Upside-49.90%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS0.00%0.00%0.320.400.160.300.100.000.000.000.000.00
YoY Growth---20.00%150.00%-45.85%195.50%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.80%4.21%1.69%3.05%1.03%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)281.39
(-) Cash Dividends Paid (M)135.00
(=) Cash Retained (M)146.39
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)56.2835.1721.10
Cash Retained (M)146.39146.39146.39
(-) Cash Required (M)-56.28-35.17-21.10
(=) Excess Retained (M)90.11111.22125.29
(/) Shares Outstanding (M)500.00500.00500.00
(=) Excess Retained per Share0.180.220.25
LTM Dividend per Share0.270.270.27
(+) Excess Retained per Share0.180.220.25
(=) Adjusted Dividend0.450.490.52
WACC / Discount Rate8.95%8.95%8.95%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.03$4.90$5.82
Upside / Downside-66.38%-59.12%-51.47%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)281.39278.58275.79273.03270.30267.60275.63
Payout Ratio47.98%56.38%64.79%73.19%81.60%90.00%92.50%
Projected Dividends (M)135.00157.06178.67199.83220.55240.84254.96

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.95%8.95%8.95%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)142.71144.17145.62
Year 2 PV (M)147.51150.54153.59
Year 3 PV (M)149.90154.54159.27
Year 4 PV (M)150.33156.56162.98
Year 5 PV (M)149.15156.92165.01
PV of Terminal Value (M)2,655.652,793.932,937.92
Equity Value (M)3,395.253,556.653,724.39
Shares Outstanding (M)500.00500.00500.00
Fair Value$6.79$7.11$7.45
Upside / Downside-43.37%-40.67%-37.88%

High-Yield Dividend Screener

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