Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Segmen Kardesler Gid Urt Ve Amblj Sny AS (SEGMN.IS)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$9.93 - $14.79$12.24
Multi-Stage$19.51 - $21.41$20.44
Blended Fair Value$16.34
Current Price$23.18
Upside-29.50%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.300.240.000.000.000.000.000.000.000.00
YoY Growth--27.96%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.32%0.87%0.00%0.00%0.00%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)217.91
(-) Cash Dividends Paid (M)151.17
(=) Cash Retained (M)66.74
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)43.5827.2416.34
Cash Retained (M)66.7466.7466.74
(-) Cash Required (M)-43.58-27.24-16.34
(=) Excess Retained (M)23.1639.5150.40
(/) Shares Outstanding (M)179.00179.00179.00
(=) Excess Retained per Share0.130.220.28
LTM Dividend per Share0.840.840.84
(+) Excess Retained per Share0.130.220.28
(=) Adjusted Dividend0.971.071.13
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate-2.00%-1.00%0.00%
Fair Value$9.93$12.24$14.79
Upside / Downside-57.17%-47.18%-36.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)217.91215.73213.57211.44209.32207.23213.45
Payout Ratio69.37%73.50%77.62%81.75%85.87%90.00%92.50%
Projected Dividends (M)151.17158.55165.78172.85179.76186.51197.44

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)145.85147.34148.83
Year 2 PV (M)140.28143.16146.06
Year 3 PV (M)134.54138.70142.95
Year 4 PV (M)128.70134.04139.54
Year 5 PV (M)122.84129.24135.90
PV of Terminal Value (M)2,819.342,966.153,119.01
Equity Value (M)3,491.553,658.623,832.28
Shares Outstanding (M)179.00179.00179.00
Fair Value$19.51$20.44$21.41
Upside / Downside-15.85%-11.82%-7.64%

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