Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Markel Corporation (0JYM.L)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$9,630.14 - $32,292.36$30,262.67
Multi-Stage$4,108.07 - $4,500.95$4,300.88
Blended Fair Value$17,281.77
Current Price$1,911.36
Upside804.16%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%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)2,079.38
(-) Cash Dividends Paid (M)18.00
(=) Cash Retained (M)2,061.38
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)415.88259.92155.95
Cash Retained (M)2,061.382,061.382,061.38
(-) Cash Required (M)-415.88-259.92-155.95
(=) Excess Retained (M)1,645.501,801.451,905.42
(/) Shares Outstanding (M)12.8112.8112.81
(=) Excess Retained per Share128.49140.67148.79
LTM Dividend per Share1.411.411.41
(+) Excess Retained per Share128.49140.67148.79
(=) Adjusted Dividend129.90142.08150.20
WACC / Discount Rate6.92%6.92%6.92%
Growth Rate5.50%6.50%7.50%
Fair Value$9,630.14$30,262.67$32,292.36
Upside / Downside403.84%1,483.31%1,589.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,079.382,214.542,358.482,511.782,675.052,848.932,934.39
Payout Ratio0.87%18.69%36.52%54.35%72.17%90.00%92.50%
Projected Dividends (M)18.00413.95861.301,365.061,930.672,564.032,714.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.92%6.92%6.92%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)383.51387.15390.78
Year 2 PV (M)739.30753.38767.59
Year 3 PV (M)1,085.541,116.701,148.45
Year 4 PV (M)1,422.441,477.141,533.40
Year 5 PV (M)1,750.171,834.711,922.47
PV of Terminal Value (M)47,226.9449,508.0251,876.40
Equity Value (M)52,607.9055,077.0957,639.11
Shares Outstanding (M)12.8112.8112.81
Fair Value$4,108.07$4,300.88$4,500.95
Upside / Downside114.93%125.02%135.48%

High-Yield Dividend Screener

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