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Marble Point Loan Financing Limited (MPLF.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$0.57 - $0.82$0.69
Multi-Stage$1.01 - $1.10$1.05
Blended Fair Value$0.87
Current Price$61.00
Upside-98.57%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017
DPS1.48%0.00%0.070.090.080.070.080.060.010.000.000.00
YoY Growth---24.93%6.97%25.07%-18.75%31.89%323.47%0.00%0.00%0.00%0.00%
Dividend Yield--0.11%0.16%0.12%0.10%0.10%0.08%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)16.32
(-) Cash Dividends Paid (M)15.18
(=) Cash Retained (M)1.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.262.041.22
Cash Retained (M)1.151.151.15
(-) Cash Required (M)-3.26-2.04-1.22
(=) Excess Retained (M)-2.12-0.89-0.08
(/) Shares Outstanding (M)202.04202.04202.04
(=) Excess Retained per Share-0.010.000.00
LTM Dividend per Share0.080.080.08
(+) Excess Retained per Share-0.010.000.00
(=) Adjusted Dividend0.060.070.07
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.57$0.69$0.82
Upside / Downside-99.06%-98.86%-98.65%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)16.3216.1616.0015.8415.6815.5215.99
Payout Ratio92.98%92.39%91.79%91.19%90.60%90.00%92.50%
Projected Dividends (M)15.1814.9314.6814.4414.2013.9714.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)13.5413.6813.82
Year 2 PV (M)12.0912.3412.59
Year 3 PV (M)10.7911.1211.46
Year 4 PV (M)9.6310.0310.44
Year 5 PV (M)8.599.049.50
PV of Terminal Value (M)149.14156.90164.99
Equity Value (M)203.77213.11222.80
Shares Outstanding (M)202.04202.04202.04
Fair Value$1.01$1.05$1.10
Upside / Downside-98.35%-98.27%-98.19%

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