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Century Communities, Inc. (CCS)

Company Dividend Discount ModelIndustry: Residential ConstructionSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$163.15 - $435.53$249.96
Multi-Stage$110.41 - $120.69$115.45
Blended Fair Value$182.71
Current Price$63.37
Upside188.32%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1.060.950.840.490.000.000.000.000.000.00
YoY Growth--11.47%12.86%71.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.58%0.99%1.31%0.92%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)214.38
(-) Cash Dividends Paid (M)34.43
(=) Cash Retained (M)179.95
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)42.8826.8016.08
Cash Retained (M)179.95179.95179.95
(-) Cash Required (M)-42.88-26.80-16.08
(=) Excess Retained (M)137.07153.15163.87
(/) Shares Outstanding (M)30.9830.9830.98
(=) Excess Retained per Share4.424.945.29
LTM Dividend per Share1.111.111.11
(+) Excess Retained per Share4.424.945.29
(=) Adjusted Dividend5.546.066.40
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$163.15$249.96$435.53
Upside / Downside157.46%294.44%587.28%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)214.38228.32243.16258.96275.80293.72302.53
Payout Ratio16.06%30.85%45.64%60.42%75.21%90.00%92.50%
Projected Dividends (M)34.4370.43110.97156.48207.43264.35279.84

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)63.9764.5765.18
Year 2 PV (M)91.5293.2695.02
Year 3 PV (M)117.20120.56123.99
Year 4 PV (M)141.09146.52152.10
Year 5 PV (M)163.29171.18179.37
PV of Terminal Value (M)2,843.152,980.483,123.06
Equity Value (M)3,420.233,576.583,738.72
Shares Outstanding (M)30.9830.9830.98
Fair Value$110.41$115.45$120.69
Upside / Downside74.22%82.19%90.45%

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