Definitive Analysis
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Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Energizer Holdings, Inc. (ENR)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$68.76 - $161.30$101.08
Multi-Stage$61.04 - $66.77$63.85
Blended Fair Value$82.47
Current Price$24.89
Upside231.33%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.39%18.84%1.211.211.201.181.161.191.150.970.960.87
YoY Growth---0.34%1.27%1.65%1.19%-1.76%2.89%18.57%1.30%10.21%304.52%
Dividend Yield--4.86%3.48%3.78%3.51%2.90%2.81%2.29%2.15%2.00%1.95%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)239.00
(-) Cash Dividends Paid (M)87.10
(=) Cash Retained (M)151.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)47.8029.8817.93
Cash Retained (M)151.90151.90151.90
(-) Cash Required (M)-47.80-29.88-17.93
(=) Excess Retained (M)104.10122.03133.98
(/) Shares Outstanding (M)72.0372.0372.03
(=) Excess Retained per Share1.451.691.86
LTM Dividend per Share1.211.211.21
(+) Excess Retained per Share1.451.691.86
(=) Adjusted Dividend2.652.903.07
WACC / Discount Rate8.13%8.13%8.13%
Growth Rate4.11%5.11%6.11%
Fair Value$68.76$101.08$161.30
Upside / Downside176.27%306.11%548.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)239.00251.22264.06277.55291.74306.65315.85
Payout Ratio36.44%47.15%57.87%68.58%79.29%90.00%92.50%
Projected Dividends (M)87.10118.46152.80190.34231.31275.98292.16

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.13%8.13%8.13%
Growth Rate4.11%5.11%6.11%
Year 1 PV (M)108.51109.55110.60
Year 2 PV (M)128.21130.68133.18
Year 3 PV (M)146.29150.55154.89
Year 4 PV (M)162.86169.20175.74
Year 5 PV (M)177.99186.70195.75
PV of Terminal Value (M)3,672.663,852.464,039.24
Equity Value (M)4,396.514,599.154,809.39
Shares Outstanding (M)72.0372.0372.03
Fair Value$61.04$63.85$66.77
Upside / Downside145.25%156.55%168.28%

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