Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Simpson Manufacturing Co., Inc. (SSD)

Company Dividend Discount ModelIndustry: ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$187.85 - $483.60$284.58
Multi-Stage$128.09 - $140.03$133.95
Blended Fair Value$209.26
Current Price$167.46
Upside24.96%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.96%6.02%1.111.081.050.990.960.960.950.880.780.70
YoY Growth--2.87%2.98%5.47%3.02%0.51%0.77%7.87%13.05%11.44%13.25%
Dividend Yield--0.71%0.54%0.95%0.91%0.93%1.55%1.60%1.53%1.81%1.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)344.33
(-) Cash Dividends Paid (M)47.36
(=) Cash Retained (M)296.96
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)68.8743.0425.82
Cash Retained (M)296.96296.96296.96
(-) Cash Required (M)-68.87-43.04-25.82
(=) Excess Retained (M)228.10253.92271.14
(/) Shares Outstanding (M)41.9541.9541.95
(=) Excess Retained per Share5.446.056.46
LTM Dividend per Share1.131.131.13
(+) Excess Retained per Share5.446.056.46
(=) Adjusted Dividend6.577.187.59
WACC / Discount Rate9.19%9.19%9.19%
Growth Rate5.50%6.50%7.50%
Fair Value$187.85$284.58$483.60
Upside / Downside12.17%69.94%188.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)344.33366.71390.54415.93442.97471.76485.91
Payout Ratio13.76%29.00%44.25%59.50%74.75%90.00%92.50%
Projected Dividends (M)47.36106.36172.83247.49331.12424.58449.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.19%9.19%9.19%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)96.5097.4198.33
Year 2 PV (M)142.26144.97147.70
Year 3 PV (M)184.82190.12195.53
Year 4 PV (M)224.34232.97241.84
Year 5 PV (M)260.98273.59286.67
PV of Terminal Value (M)4,465.044,680.704,904.62
Equity Value (M)5,373.935,619.765,874.69
Shares Outstanding (M)41.9541.9541.95
Fair Value$128.09$133.95$140.03
Upside / Downside-23.51%-20.01%-16.38%

High-Yield Dividend Screener

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