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Nos, S.g.p.s., S.a. (NOS.LS)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$6.01 - $10.17$7.82
Multi-Stage$11.16 - $12.25$11.70
Blended Fair Value$9.76
Current Price$3.87
Upside152.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.07%11.18%0.350.280.280.280.280.350.300.200.160.14
YoY Growth--25.83%-0.09%-0.01%-0.10%-20.65%16.69%50.00%24.96%13.72%16.45%
Dividend Yield--7.93%7.59%6.59%7.30%8.98%11.50%5.20%4.18%3.14%2.41%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)253.15
(-) Cash Dividends Paid (M)204.91
(=) Cash Retained (M)48.25
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)50.6331.6418.99
Cash Retained (M)48.2548.2548.25
(-) Cash Required (M)-50.63-31.64-18.99
(=) Excess Retained (M)-2.3916.6029.26
(/) Shares Outstanding (M)511.91511.91511.91
(=) Excess Retained per Share0.000.030.06
LTM Dividend per Share0.400.400.40
(+) Excess Retained per Share0.000.030.06
(=) Adjusted Dividend0.400.430.46
WACC / Discount Rate6.64%6.64%6.64%
Growth Rate0.06%1.06%2.06%
Fair Value$6.01$7.82$10.17
Upside / Downside55.24%102.17%162.87%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)253.15255.82258.52261.25264.01266.80274.80
Payout Ratio80.94%82.75%84.57%86.38%88.19%90.00%92.50%
Projected Dividends (M)204.91211.70218.62225.66232.83240.12254.19

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.64%6.64%6.64%
Growth Rate0.06%1.06%2.06%
Year 1 PV (M)196.55198.51200.48
Year 2 PV (M)188.44192.23196.05
Year 3 PV (M)180.59186.06191.63
Year 4 PV (M)172.98180.00187.23
Year 5 PV (M)165.63174.07182.86
PV of Terminal Value (M)4,810.815,056.075,311.23
Equity Value (M)5,714.995,986.946,269.48
Shares Outstanding (M)511.91511.91511.91
Fair Value$11.16$11.70$12.25
Upside / Downside188.48%202.20%216.46%

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