Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Ökoworld AG (VVV3.DE)

Company Dividend Discount ModelIndustry: Insurance - BrokersSector: Financial Services

Valuation Snapshot

Stable Growth$257.65 - $1,320.66$526.52
Multi-Stage$141.00 - $154.29$147.52
Blended Fair Value$337.02
Current Price$31.90
Upside956.49%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS40.68%0.00%2.252.252.251.120.620.410.600.540.480.43
YoY Growth---0.07%0.00%100.52%79.55%53.14%-31.71%10.81%12.09%12.82%0.00%
Dividend Yield--7.94%7.00%6.20%1.17%1.63%2.53%3.77%3.85%4.41%3.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)45.61
(-) Cash Dividends Paid (M)7.72
(=) Cash Retained (M)37.89
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.125.703.42
Cash Retained (M)37.8937.8937.89
(-) Cash Required (M)-9.12-5.70-3.42
(=) Excess Retained (M)28.7732.1934.47
(/) Shares Outstanding (M)6.876.876.87
(=) Excess Retained per Share4.194.695.02
LTM Dividend per Share1.121.121.12
(+) Excess Retained per Share4.194.695.02
(=) Adjusted Dividend5.315.816.14
WACC / Discount Rate7.68%7.68%7.68%
Growth Rate5.50%6.50%7.50%
Fair Value$257.65$526.52$1,320.66
Upside / Downside707.68%1,550.52%4,040.00%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)45.6148.5751.7355.0958.6862.4964.36
Payout Ratio16.92%31.54%46.15%60.77%75.38%90.00%92.50%
Projected Dividends (M)7.7215.3223.8833.4844.2356.2459.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.68%7.68%7.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)14.0914.2314.36
Year 2 PV (M)20.2120.5920.98
Year 3 PV (M)26.0726.8227.58
Year 4 PV (M)31.6932.9134.16
Year 5 PV (M)37.0738.8640.72
PV of Terminal Value (M)839.28879.81921.90
Equity Value (M)968.401,013.221,059.70
Shares Outstanding (M)6.876.876.87
Fair Value$141.00$147.52$154.29
Upside / Downside342.00%362.45%383.67%

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