Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Corporación Actinver, S. A. B. de C. V. (ACTINVRB.MX)

Company Dividend Discount ModelIndustry: Sector:

Valuation Snapshot

Stable Growth$56.13 - $111.11$77.70
Multi-Stage$44.26 - $48.36$46.27
Blended Fair Value$61.98
Current Price$19.05
Upside225.38%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.82%0.00%0.540.350.370.200.000.310.130.110.150.00
YoY Growth--54.23%-6.50%85.19%0.00%-100.00%142.65%19.30%-29.63%0.00%0.00%
Dividend Yield--2.92%2.32%2.96%1.68%0.00%3.18%0.99%0.77%1.18%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,763.04
(-) Cash Dividends Paid (M)293.35
(=) Cash Retained (M)1,469.69
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)352.61220.38132.23
Cash Retained (M)1,469.691,469.691,469.69
(-) Cash Required (M)-352.61-220.38-132.23
(=) Excess Retained (M)1,117.081,249.311,337.46
(/) Shares Outstanding (M)534.31534.31534.31
(=) Excess Retained per Share2.092.342.50
LTM Dividend per Share0.550.550.55
(+) Excess Retained per Share2.092.342.50
(=) Adjusted Dividend2.642.893.05
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.05%6.05%7.05%
Fair Value$56.13$77.70$111.11
Upside / Downside194.63%307.87%483.24%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,763.041,869.781,982.992,103.052,230.382,365.412,436.38
Payout Ratio16.64%31.31%45.98%60.66%75.33%90.00%92.50%
Projected Dividends (M)293.35585.45911.841,275.621,680.092,128.872,253.65

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.05%6.05%7.05%
Year 1 PV (M)527.23532.25537.27
Year 2 PV (M)739.51753.65767.93
Year 3 PV (M)931.65958.51985.88
Year 4 PV (M)1,105.041,147.721,191.62
Year 5 PV (M)1,260.971,322.141,385.66
PV of Terminal Value (M)19,082.4220,008.0920,969.34
Equity Value (M)23,646.8324,722.3725,837.71
Shares Outstanding (M)534.31534.31534.31
Fair Value$44.26$46.27$48.36
Upside / Downside132.32%142.89%153.85%

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