Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Brødrene A & O Johansen A/S (0RNT.L)

Company Dividend Discount ModelIndustry: Industrial - DistributionSector: Industrials

Valuation Snapshot

Stable Growth$1,177.03 - $1,386.75$1,299.58
Multi-Stage$272.04 - $297.95$284.76
Blended Fair Value$792.17
Current Price$88.50
Upside795.11%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS44.27%0.00%3.795.314.551.520.610.610.610.610.000.00
YoY Growth---28.58%16.67%200.00%149.99%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--4.57%6.96%5.61%1.39%0.82%2.07%1.87%1.81%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)187.45
(-) Cash Dividends Paid (M)81.51
(=) Cash Retained (M)105.94
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.4923.4314.06
Cash Retained (M)105.94105.94105.94
(-) Cash Required (M)-37.49-23.43-14.06
(=) Excess Retained (M)68.4582.5191.88
(/) Shares Outstanding (M)26.8826.8826.88
(=) Excess Retained per Share2.553.073.42
LTM Dividend per Share3.033.033.03
(+) Excess Retained per Share2.553.073.42
(=) Adjusted Dividend5.586.106.45
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate5.50%6.50%7.50%
Fair Value$1,177.03$1,299.58$1,386.75
Upside / Downside1,229.98%1,368.46%1,466.94%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)187.45199.63212.61226.43241.14256.82264.52
Payout Ratio43.48%52.79%62.09%71.39%80.70%90.00%92.50%
Projected Dividends (M)81.51105.38132.01161.65194.60231.14244.68

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)98.7999.73100.67
Year 2 PV (M)116.02118.23120.46
Year 3 PV (M)133.20137.02140.92
Year 4 PV (M)150.32156.10162.04
Year 5 PV (M)167.38175.47183.86
PV of Terminal Value (M)6,647.226,968.297,301.64
Equity Value (M)7,312.947,654.838,009.59
Shares Outstanding (M)26.8826.8826.88
Fair Value$272.04$284.76$297.95
Upside / Downside207.39%221.76%236.67%

High-Yield Dividend Screener

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