Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Floridienne S.A. (FLOB.BR)

Company Dividend Discount ModelIndustry: ConglomeratesSector: Industrials

Valuation Snapshot

Stable Growth$248.65 - $418.00$322.82
Multi-Stage$201.69 - $219.78$210.58
Blended Fair Value$266.70
Current Price$680.00
Upside-60.78%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.55%0.00%2.502.502.502.300.002.102.332.142.040.00
YoY Growth--0.00%0.00%8.70%0.00%-100.00%-9.94%9.13%4.96%0.00%0.00%
Dividend Yield--0.37%0.37%0.36%0.34%0.00%1.00%1.33%1.18%1.62%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19.29
(-) Cash Dividends Paid (M)4.90
(=) Cash Retained (M)14.39
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.862.411.45
Cash Retained (M)14.3914.3914.39
(-) Cash Required (M)-3.86-2.41-1.45
(=) Excess Retained (M)10.5311.9812.95
(/) Shares Outstanding (M)0.980.980.98
(=) Excess Retained per Share10.7612.2313.22
LTM Dividend per Share5.005.005.00
(+) Excess Retained per Share10.7612.2313.22
(=) Adjusted Dividend15.7617.2318.22
WACC / Discount Rate12.19%12.19%12.19%
Growth Rate5.50%6.50%7.50%
Fair Value$248.65$322.82$418.00
Upside / Downside-63.43%-52.53%-38.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19.2920.5421.8823.3024.8226.4327.22
Payout Ratio25.39%38.31%51.23%64.16%77.08%90.00%92.50%
Projected Dividends (M)4.907.8711.2114.9519.1323.7925.18

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.19%12.19%12.19%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)6.957.027.08
Year 2 PV (M)8.748.919.08
Year 3 PV (M)10.2910.5910.89
Year 4 PV (M)11.6312.0812.54
Year 5 PV (M)12.7713.3914.03
PV of Terminal Value (M)147.17154.28161.66
Equity Value (M)197.56206.26215.27
Shares Outstanding (M)0.980.980.98
Fair Value$201.69$210.58$219.78
Upside / Downside-70.34%-69.03%-67.68%

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