Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dpmmetals Cdi 1:1 [dpm] (DPM.AX)

Company Dividend Discount ModelIndustry: GoldSector: Basic Materials

Valuation Snapshot

Stable Growth$11.19 - $16.00$13.55
Multi-Stage$12.57 - $13.76$13.15
Blended Fair Value$13.35
Current Price$22.36
Upside-40.30%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.150.160.150.120.070.000.000.000.000.00
YoY Growth---4.13%5.45%29.19%60.15%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.76%0.76%0.70%0.49%0.30%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)303.35
(-) Cash Dividends Paid (M)27.71
(=) Cash Retained (M)275.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)60.6737.9222.75
Cash Retained (M)275.64275.64275.64
(-) Cash Required (M)-60.67-37.92-22.75
(=) Excess Retained (M)214.97237.72252.89
(/) Shares Outstanding (M)191.71191.71191.71
(=) Excess Retained per Share1.121.241.32
LTM Dividend per Share0.140.140.14
(+) Excess Retained per Share1.121.241.32
(=) Adjusted Dividend1.271.381.46
WACC / Discount Rate12.36%12.36%12.36%
Growth Rate0.94%1.94%2.94%
Fair Value$11.19$13.55$16.00
Upside / Downside-49.95%-39.42%-28.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)303.35309.24315.24321.36327.60333.96343.97
Payout Ratio9.14%25.31%41.48%57.65%73.83%90.00%92.50%
Projected Dividends (M)27.7178.26130.77185.28241.86300.56318.18

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.36%12.36%12.36%
Growth Rate0.94%1.94%2.94%
Year 1 PV (M)68.9769.6570.34
Year 2 PV (M)101.56103.58105.62
Year 3 PV (M)126.81130.61134.49
Year 4 PV (M)145.88151.74157.79
Year 5 PV (M)159.76167.83176.23
PV of Terminal Value (M)1,806.861,898.161,993.10
Equity Value (M)2,409.832,521.582,637.57
Shares Outstanding (M)191.71191.71191.71
Fair Value$12.57$13.15$13.76
Upside / Downside-43.78%-41.18%-38.47%

High-Yield Dividend Screener

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