Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

James Halstead Plc 5.5% Cum Prf (JHDA.L)

Company Dividend Discount ModelIndustry: Construction MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$3.11 - $5.79$4.21
Multi-Stage$4.28 - $4.68$4.48
Blended Fair Value$4.34
Current Price$0.76
Upside475.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.89%6.31%0.080.080.080.080.060.070.070.060.100.05
YoY Growth--6.46%0.00%-5.24%35.06%-11.16%4.26%7.10%-36.19%89.66%12.78%
Dividend Yield--10.93%820.04%767.26%860.81%644.15%736.79%688.10%758.19%1,195.68%672.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)86.85
(-) Cash Dividends Paid (M)68.77
(=) Cash Retained (M)18.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17.3710.866.51
Cash Retained (M)18.0818.0818.08
(-) Cash Required (M)-17.37-10.86-6.51
(=) Excess Retained (M)0.717.2311.57
(/) Shares Outstanding (M)416.78416.78416.78
(=) Excess Retained per Share0.000.020.03
LTM Dividend per Share0.160.160.16
(+) Excess Retained per Share0.000.020.03
(=) Adjusted Dividend0.170.180.19
WACC / Discount Rate7.35%7.35%7.35%
Growth Rate1.89%2.89%3.89%
Fair Value$3.11$4.21$5.79
Upside / Downside312.22%457.43%667.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)86.8589.3691.9594.6197.35100.17103.17
Payout Ratio79.18%81.34%83.51%85.67%87.84%90.00%92.50%
Projected Dividends (M)68.7772.6976.7881.0585.5190.1595.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.35%7.35%7.35%
Growth Rate1.89%2.89%3.89%
Year 1 PV (M)67.0667.7168.37
Year 2 PV (M)65.3466.6367.93
Year 3 PV (M)63.6265.5267.45
Year 4 PV (M)61.9264.3866.92
Year 5 PV (M)60.2263.2366.36
PV of Terminal Value (M)1,464.841,538.141,614.35
Equity Value (M)1,782.991,865.611,951.38
Shares Outstanding (M)416.78416.78416.78
Fair Value$4.28$4.48$4.68
Upside / Downside466.62%492.88%520.14%

High-Yield Dividend Screener

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