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Immo Moury SCA (IMMOU.BR)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$78.91 - $185.63$116.11
Multi-Stage$104.84 - $114.81$109.73
Blended Fair Value$112.92
Current Price$30.60
Upside269.02%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-2.76%-0.94%2.001.801.801.802.132.302.302.302.302.40
YoY Growth--11.06%0.00%0.00%-15.45%-7.43%0.00%0.00%0.00%-4.23%9.25%
Dividend Yield--6.53%6.34%4.52%4.15%4.53%5.13%5.02%4.75%4.34%4.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1.79
(-) Cash Dividends Paid (M)1.66
(=) Cash Retained (M)0.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.360.220.13
Cash Retained (M)0.120.120.12
(-) Cash Required (M)-0.36-0.22-0.13
(=) Excess Retained (M)-0.24-0.10-0.01
(/) Shares Outstanding (M)0.460.460.46
(=) Excess Retained per Share-0.51-0.22-0.03
LTM Dividend per Share3.603.603.60
(+) Excess Retained per Share-0.51-0.22-0.03
(=) Adjusted Dividend3.093.383.57
WACC / Discount Rate6.41%6.41%6.41%
Growth Rate2.40%3.40%4.40%
Fair Value$78.91$116.11$185.63
Upside / Downside157.86%279.44%506.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1.791.851.911.972.042.112.17
Payout Ratio93.20%92.56%91.92%91.28%90.64%90.00%92.50%
Projected Dividends (M)1.661.711.751.801.851.902.01

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.41%6.41%6.41%
Growth Rate2.40%3.40%4.40%
Year 1 PV (M)1.591.611.62
Year 2 PV (M)1.521.551.58
Year 3 PV (M)1.451.501.54
Year 4 PV (M)1.391.441.50
Year 5 PV (M)1.331.391.46
PV of Terminal Value (M)41.2043.2545.38
Equity Value (M)48.4850.7453.08
Shares Outstanding (M)0.460.460.46
Fair Value$104.84$109.73$114.81
Upside / Downside242.62%258.60%275.18%

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