Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Logistec Corporation (LGT-B.TO)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$119.04 - $410.35$384.56
Multi-Stage$52.55 - $57.52$54.99
Blended Fair Value$219.77
Current Price$60.56
Upside262.90%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS7.26%8.81%0.430.400.390.380.340.300.290.260.990.20
YoY Growth--8.25%2.29%3.25%9.25%13.66%2.70%11.91%-73.27%405.27%5.52%
Dividend Yield--0.97%0.89%0.97%1.49%0.78%0.62%0.82%0.60%2.75%0.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)26.70
(-) Cash Dividends Paid (M)6.30
(=) Cash Retained (M)20.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.343.342.00
Cash Retained (M)20.4020.4020.40
(-) Cash Required (M)-5.34-3.34-2.00
(=) Excess Retained (M)15.0617.0618.40
(/) Shares Outstanding (M)12.9412.9412.94
(=) Excess Retained per Share1.161.321.42
LTM Dividend per Share0.490.490.49
(+) Excess Retained per Share1.161.321.42
(=) Adjusted Dividend1.651.811.91
WACC / Discount Rate6.96%6.96%6.96%
Growth Rate5.50%6.50%7.50%
Fair Value$119.04$384.56$410.35
Upside / Downside96.57%535.00%577.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)26.7028.4330.2832.2534.3436.5837.67
Payout Ratio23.59%36.87%50.15%63.44%76.72%90.00%92.50%
Projected Dividends (M)6.3010.4815.1920.4626.3532.9234.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.96%6.96%6.96%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)9.719.809.89
Year 2 PV (M)13.0313.2713.52
Year 3 PV (M)16.2516.7217.19
Year 4 PV (M)19.3820.1320.90
Year 5 PV (M)22.4323.5124.64
PV of Terminal Value (M)599.12628.06658.10
Equity Value (M)679.91711.49744.24
Shares Outstanding (M)12.9412.9412.94
Fair Value$52.55$54.99$57.52
Upside / Downside-13.23%-9.20%-5.02%

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