Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

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Sector

Beard Energy Transition Acquisition Corp. (BRD)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$2.32 - $3.68$2.94
Multi-Stage$6.19 - $6.81$6.50
Blended Fair Value$4.72
Current Price$10.75
Upside-56.12%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20222021
DPS0.00%0.00%0.160.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.57%0.00%0.00%0.00%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)4.69
(-) Cash Dividends Paid (M)4.48
(=) Cash Retained (M)0.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.940.590.35
Cash Retained (M)0.210.210.21
(-) Cash Required (M)-0.94-0.59-0.35
(=) Excess Retained (M)-0.73-0.38-0.14
(/) Shares Outstanding (M)20.3420.3420.34
(=) Excess Retained per Share-0.04-0.02-0.01
LTM Dividend per Share0.220.220.22
(+) Excess Retained per Share-0.04-0.02-0.01
(=) Adjusted Dividend0.180.200.21
WACC / Discount Rate5.80%5.80%5.80%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.32$2.94$3.68
Upside / Downside-78.44%-72.68%-65.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4.694.644.604.554.514.464.60
Payout Ratio95.51%94.41%93.31%92.20%91.10%90.00%92.50%
Projected Dividends (M)4.484.384.294.204.114.024.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.80%5.80%5.80%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4.104.144.19
Year 2 PV (M)3.763.833.91
Year 3 PV (M)3.443.543.65
Year 4 PV (M)3.153.283.41
Year 5 PV (M)2.883.033.18
PV of Terminal Value (M)108.66114.32120.21
Equity Value (M)125.98132.15138.56
Shares Outstanding (M)20.3420.3420.34
Fair Value$6.19$6.50$6.81
Upside / Downside-42.38%-39.56%-36.63%

High-Yield Dividend Screener

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