Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Bilfinger SE (GBF.DE)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$45.84 - $70.16$57.20
Multi-Stage$60.54 - $66.15$63.29
Blended Fair Value$60.25
Current Price$81.65
Upside-26.21%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.87%-6.52%1.791.295.152.090.191.071.121.170.002.35
YoY Growth--38.89%-74.91%146.75%975.34%-81.89%-4.05%-4.98%0.00%-100.00%-33.23%
Dividend Yield--2.71%3.01%13.17%6.04%0.62%6.97%3.53%3.17%0.00%6.34%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)185.80
(-) Cash Dividends Paid (M)107.70
(=) Cash Retained (M)78.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.1623.2313.94
Cash Retained (M)78.1078.1078.10
(-) Cash Required (M)-37.16-23.23-13.94
(=) Excess Retained (M)40.9454.8864.17
(/) Shares Outstanding (M)37.6337.6337.63
(=) Excess Retained per Share1.091.461.71
LTM Dividend per Share2.862.862.86
(+) Excess Retained per Share1.091.461.71
(=) Adjusted Dividend3.954.324.57
WACC / Discount Rate9.80%9.80%9.80%
Growth Rate1.09%2.09%3.09%
Fair Value$45.84$57.20$70.16
Upside / Downside-43.86%-29.94%-14.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)185.80189.68193.64197.68201.81206.02212.20
Payout Ratio57.97%64.37%70.78%77.19%83.59%90.00%92.50%
Projected Dividends (M)107.70122.10137.06152.58168.70185.42196.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.80%9.80%9.80%
Growth Rate1.09%2.09%3.09%
Year 1 PV (M)110.12111.20112.29
Year 2 PV (M)111.47113.69115.92
Year 3 PV (M)111.92115.27118.69
Year 4 PV (M)111.59116.07120.69
Year 5 PV (M)110.61116.19122.00
PV of Terminal Value (M)1,722.341,809.231,899.59
Equity Value (M)2,278.042,381.652,489.18
Shares Outstanding (M)37.6337.6337.63
Fair Value$60.54$63.29$66.15
Upside / Downside-25.85%-22.48%-18.98%

High-Yield Dividend Screener

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