Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Trican Well Service Ltd. (TCW.TO)

Company Dividend Discount ModelIndustry: Oil & Gas Equipment & ServicesSector: Energy

Valuation Snapshot

Stable Growth$4.47 - $6.60$5.49
Multi-Stage$8.17 - $8.98$8.56
Blended Fair Value$7.03
Current Price$4.51
Upside55.80%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%-2.27%0.190.180.000.000.000.000.000.000.000.12
YoY Growth--3.61%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-100.00%-50.05%
Dividend Yield--4.00%4.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%9.86%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107.85
(-) Cash Dividends Paid (M)38.49
(=) Cash Retained (M)69.37
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.5713.488.09
Cash Retained (M)69.3769.3769.37
(-) Cash Required (M)-21.57-13.48-8.09
(=) Excess Retained (M)47.8055.8861.28
(/) Shares Outstanding (M)190.67190.67190.67
(=) Excess Retained per Share0.250.290.32
LTM Dividend per Share0.200.200.20
(+) Excess Retained per Share0.250.290.32
(=) Adjusted Dividend0.450.490.52
WACC / Discount Rate7.93%7.93%7.93%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.47$5.49$6.60
Upside / Downside-0.94%21.71%46.36%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107.85106.77105.71104.65103.60102.57105.64
Payout Ratio35.68%46.55%57.41%68.27%79.14%90.00%92.50%
Projected Dividends (M)38.4949.7060.6971.4581.9992.3197.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.93%7.93%7.93%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)45.5846.0546.52
Year 2 PV (M)51.0552.1053.16
Year 3 PV (M)55.1356.8358.57
Year 4 PV (M)58.0260.4362.91
Year 5 PV (M)59.9263.0466.29
PV of Terminal Value (M)1,287.461,354.511,424.31
Equity Value (M)1,557.171,632.951,711.75
Shares Outstanding (M)190.67190.67190.67
Fair Value$8.17$8.56$8.98
Upside / Downside81.08%89.90%99.06%

High-Yield Dividend Screener

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