Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jumbo S.A. (BELA.AT)

Company Dividend Discount ModelIndustry: Specialty RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$44.56 - $95.53$63.50
Multi-Stage$36.58 - $39.86$38.19
Blended Fair Value$50.84
Current Price$25.56
Upside98.92%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020202019201820172016
DPS0.00%0.00%1.602.950.000.000.000.000.000.000.000.00
YoY Growth---45.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--6.26%11.03%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)320.10
(-) Cash Dividends Paid (M)217.70
(=) Cash Retained (M)102.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)64.0240.0124.01
Cash Retained (M)102.40102.40102.40
(-) Cash Required (M)-64.02-40.01-24.01
(=) Excess Retained (M)38.3862.3978.39
(/) Shares Outstanding (M)135.95135.95135.95
(=) Excess Retained per Share0.280.460.58
LTM Dividend per Share1.601.601.60
(+) Excess Retained per Share0.280.460.58
(=) Adjusted Dividend1.882.062.18
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate5.04%6.04%7.04%
Fair Value$44.56$63.50$95.53
Upside / Downside74.32%148.43%273.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)320.10339.42359.91381.63404.67429.10441.97
Payout Ratio68.01%72.41%76.81%81.20%85.60%90.00%92.50%
Projected Dividends (M)217.70245.77276.43309.90346.41386.19408.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate5.04%6.04%7.04%
Year 1 PV (M)222.37224.49226.61
Year 2 PV (M)226.31230.64235.01
Year 3 PV (M)229.57236.19242.93
Year 4 PV (M)232.19241.16250.38
Year 5 PV (M)234.21245.58257.38
PV of Terminal Value (M)3,828.134,013.864,206.73
Equity Value (M)4,972.785,191.915,419.05
Shares Outstanding (M)135.95135.95135.95
Fair Value$36.58$38.19$39.86
Upside / Downside43.11%49.41%55.95%

High-Yield Dividend Screener

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