Definitive Analysis
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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Ipsos S.A. (IPS.PA)

Company Dividend Discount ModelIndustry: Consulting ServicesSector: Industrials

Valuation Snapshot

Stable Growth$524.00 - $1,507.37$1,412.62
Multi-Stage$208.62 - $228.27$218.27
Blended Fair Value$815.45
Current Price$45.50
Upside1,692.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS13.01%8.40%1.611.341.160.900.450.880.860.830.820.77
YoY Growth--20.82%15.46%28.24%101.41%-48.84%2.16%3.89%0.15%6.71%7.13%
Dividend Yield--3.52%2.35%1.98%2.19%1.62%3.03%4.17%2.63%2.76%3.64%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)334.49
(-) Cash Dividends Paid (M)130.20
(=) Cash Retained (M)204.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)66.9041.8125.09
Cash Retained (M)204.29204.29204.29
(-) Cash Required (M)-66.90-41.81-25.09
(=) Excess Retained (M)137.39162.48179.20
(/) Shares Outstanding (M)44.1344.1344.13
(=) Excess Retained per Share3.113.684.06
LTM Dividend per Share2.952.952.95
(+) Excess Retained per Share3.113.684.06
(=) Adjusted Dividend6.066.637.01
WACC / Discount Rate6.72%6.72%6.72%
Growth Rate5.50%6.50%7.50%
Fair Value$524.00$1,412.62$1,507.37
Upside / Downside1,051.64%3,004.67%3,212.90%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)334.49356.23379.39404.05430.31458.28472.03
Payout Ratio38.93%49.14%59.36%69.57%79.79%90.00%92.50%
Projected Dividends (M)130.20175.06225.19281.10343.33412.45436.63

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.72%6.72%6.72%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)162.49164.03165.57
Year 2 PV (M)194.02197.72201.45
Year 3 PV (M)224.81231.27237.84
Year 4 PV (M)254.87264.67274.75
Year 5 PV (M)284.21297.94312.19
PV of Terminal Value (M)8,086.148,476.708,882.21
Equity Value (M)9,206.559,632.3310,074.02
Shares Outstanding (M)44.1344.1344.13
Fair Value$208.62$218.27$228.27
Upside / Downside358.50%379.70%401.70%

High-Yield Dividend Screener

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