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Fibra Shop (FSHOP13.MX)

Company Dividend Discount ModelIndustry: REIT - RetailSector: Real Estate

Valuation Snapshot

Stable Growth$32.37 - $49.41$40.35
Multi-Stage$67.28 - $74.14$70.64
Blended Fair Value$55.50
Current Price$8.86
Upside526.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.420.120.080.450.300.000.000.000.000.00
YoY Growth--250.00%60.00%-83.33%49.91%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--4.85%1.93%1.26%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)2,414.26
(-) Cash Dividends Paid (M)360.00
(=) Cash Retained (M)2,054.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)482.85301.78181.07
Cash Retained (M)2,054.262,054.262,054.26
(-) Cash Required (M)-482.85-301.78-181.07
(=) Excess Retained (M)1,571.411,752.481,873.19
(/) Shares Outstanding (M)663.73663.73663.73
(=) Excess Retained per Share2.372.642.82
LTM Dividend per Share0.540.540.54
(+) Excess Retained per Share2.372.642.82
(=) Adjusted Dividend2.913.183.36
WACC / Discount Rate6.81%6.81%6.81%
Growth Rate-2.00%-1.00%0.00%
Fair Value$32.37$40.35$49.41
Upside / Downside265.37%355.40%457.70%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,414.262,390.122,366.222,342.562,319.132,295.942,364.82
Payout Ratio14.91%29.93%44.95%59.96%74.98%90.00%92.50%
Projected Dividends (M)360.00715.341,063.541,404.701,738.942,066.352,187.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.81%6.81%6.81%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)662.97669.74676.50
Year 2 PV (M)913.52932.26951.19
Year 3 PV (M)1,118.231,152.811,188.10
Year 4 PV (M)1,282.961,336.131,390.94
Year 5 PV (M)1,412.911,486.481,563.09
PV of Terminal Value (M)39,265.5541,310.2043,439.15
Equity Value (M)44,656.1346,887.6149,208.96
Shares Outstanding (M)663.73663.73663.73
Fair Value$67.28$70.64$74.14
Upside / Downside659.38%697.32%736.80%

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