Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sondotécnica Engenharia de Solos S.A. (SOND3.SA)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$135.87 - $238.28$179.48
Multi-Stage$245.79 - $270.03$257.68
Blended Fair Value$218.58
Current Price$44.00
Upside396.77%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-4.29%-9.65%4.764.176.210.610.625.931.550.000.091.59
YoY Growth--14.08%-32.77%925.38%-1.93%-89.58%282.48%0.00%-100.00%-94.60%-87.88%
Dividend Yield--11.34%9.88%17.24%1.68%1.37%16.02%15.42%0.00%1.20%6.37%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)25.97
(-) Cash Dividends Paid (M)12.65
(=) Cash Retained (M)13.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.193.251.95
Cash Retained (M)13.3213.3213.32
(-) Cash Required (M)-5.19-3.25-1.95
(=) Excess Retained (M)8.1310.0811.38
(/) Shares Outstanding (M)2.512.512.51
(=) Excess Retained per Share3.244.014.53
LTM Dividend per Share5.035.035.03
(+) Excess Retained per Share3.244.014.53
(=) Adjusted Dividend8.279.049.56
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate0.31%1.31%2.31%
Fair Value$135.87$179.48$238.28
Upside / Downside208.79%307.91%441.55%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)25.9726.3126.6627.0127.3627.7228.55
Payout Ratio48.70%56.96%65.22%73.48%81.74%90.00%92.50%
Projected Dividends (M)12.6514.9917.3919.8522.3724.9526.41

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate0.31%1.31%2.31%
Year 1 PV (M)13.9414.0814.22
Year 2 PV (M)15.0515.3515.66
Year 3 PV (M)15.9816.4716.96
Year 4 PV (M)16.7617.4418.14
Year 5 PV (M)17.3918.2819.20
PV of Terminal Value (M)538.40565.77594.25
Equity Value (M)617.53647.39678.42
Shares Outstanding (M)2.512.512.51
Fair Value$245.79$257.68$270.03
Upside / Downside458.62%485.63%513.70%

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