Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Mavi Giyim Sanayi ve Ticaret A.S. (MAVI.IS)

Company Dividend Discount ModelIndustry: Apparel - RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$186.83 - $602.65$564.77
Multi-Stage$80.91 - $88.48$84.63
Blended Fair Value$324.70
Current Price$42.30
Upside667.61%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%43.38%1.500.620.170.040.000.000.040.000.000.00
YoY Growth--143.12%256.60%296.84%0.00%0.00%-100.00%0.00%0.00%0.00%-100.00%
Dividend Yield--4.65%1.34%1.34%0.86%0.00%0.00%1.57%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,106.66
(-) Cash Dividends Paid (M)1,120.98
(=) Cash Retained (M)985.68
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)421.33263.33158.00
Cash Retained (M)985.68985.68985.68
(-) Cash Required (M)-421.33-263.33-158.00
(=) Excess Retained (M)564.35722.35827.68
(/) Shares Outstanding (M)695.20695.20695.20
(=) Excess Retained per Share0.811.041.19
LTM Dividend per Share1.611.611.61
(+) Excess Retained per Share0.811.041.19
(=) Adjusted Dividend2.422.652.80
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate5.50%6.50%7.50%
Fair Value$186.83$564.77$602.65
Upside / Downside341.68%1,235.16%1,324.71%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,106.662,243.592,389.422,544.742,710.142,886.302,972.89
Payout Ratio53.21%60.57%67.93%75.28%82.64%90.00%92.50%
Projected Dividends (M)1,120.981,358.921,623.061,915.792,239.722,597.672,749.93

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,259.641,271.581,283.52
Year 2 PV (M)1,394.561,421.121,447.93
Year 3 PV (M)1,525.821,569.621,614.25
Year 4 PV (M)1,653.481,717.071,782.48
Year 5 PV (M)1,777.631,863.491,952.64
PV of Terminal Value (M)48,639.1850,988.4753,427.68
Equity Value (M)56,250.3158,831.3561,508.49
Shares Outstanding (M)695.20695.20695.20
Fair Value$80.91$84.63$88.48
Upside / Downside91.28%100.06%109.16%

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