Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sygnia Limited (SYG.JO)

Company Dividend Discount ModelIndustry: Financial - ConglomeratesSector: Financial Services

Valuation Snapshot

Stable Growth$130.58 - $512.49$221.78
Multi-Stage$86.78 - $94.59$90.61
Blended Fair Value$156.19
Current Price$23.21
Upside572.96%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS29.78%38.99%2.102.121.561.180.690.570.570.430.230.25
YoY Growth---1.15%36.11%31.53%72.02%20.96%0.05%31.40%92.48%-10.06%220.98%
Dividend Yield--10.23%11.80%9.46%6.91%4.78%6.03%6.32%4.88%1.56%1.67%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)680.83
(-) Cash Dividends Paid (M)581.23
(=) Cash Retained (M)99.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)136.1785.1051.06
Cash Retained (M)99.5999.5999.59
(-) Cash Required (M)-136.17-85.10-51.06
(=) Excess Retained (M)-36.5714.4948.53
(/) Shares Outstanding (M)153.98153.98153.98
(=) Excess Retained per Share-0.240.090.32
LTM Dividend per Share3.773.773.77
(+) Excess Retained per Share-0.240.090.32
(=) Adjusted Dividend3.543.874.09
WACC / Discount Rate8.36%8.36%8.36%
Growth Rate5.50%6.50%7.50%
Fair Value$130.58$221.78$512.49
Upside / Downside462.60%855.52%2,108.05%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)680.83725.08772.21822.40875.86932.79960.77
Payout Ratio85.37%86.30%87.22%88.15%89.07%90.00%92.50%
Projected Dividends (M)581.23625.72673.54724.94780.17839.51888.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.36%8.36%8.36%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)572.04577.46582.88
Year 2 PV (M)562.92573.65584.47
Year 3 PV (M)553.89569.79586.00
Year 4 PV (M)544.95565.91587.46
Year 5 PV (M)536.09561.98588.87
PV of Terminal Value (M)10,591.9811,103.5711,634.75
Equity Value (M)13,361.8713,952.3614,564.43
Shares Outstanding (M)153.98153.98153.98
Fair Value$86.78$90.61$94.59
Upside / Downside273.89%290.41%307.54%

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