Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Suburban Propane Partners, L.P. (SPH)

Company Dividend Discount ModelIndustry: Regulated GasSector: Utilities

Valuation Snapshot

Stable Growth$11.55 - $16.62$14.02
Multi-Stage$20.05 - $21.95$20.98
Blended Fair Value$17.50
Current Price$18.56
Upside-5.70%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.001.271.261.251.171.992.262.253.323.30
YoY Growth---100.00%0.86%0.81%6.85%-41.26%-11.95%0.47%-32.04%0.49%1.13%
Dividend Yield--0.00%7.36%7.10%8.20%8.26%13.68%10.29%11.65%13.69%11.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)106.57
(-) Cash Dividends Paid (M)83.72
(=) Cash Retained (M)22.85
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.3113.327.99
Cash Retained (M)22.8522.8522.85
(-) Cash Required (M)-21.31-13.32-7.99
(=) Excess Retained (M)1.549.5314.86
(/) Shares Outstanding (M)65.3065.3065.30
(=) Excess Retained per Share0.020.150.23
LTM Dividend per Share1.281.281.28
(+) Excess Retained per Share0.020.150.23
(=) Adjusted Dividend1.311.431.51
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$11.55$14.02$16.62
Upside / Downside-37.79%-24.44%-10.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)106.57105.50104.45103.40102.37101.35104.39
Payout Ratio78.56%80.85%83.14%85.42%87.71%90.00%92.50%
Projected Dividends (M)83.7285.3086.8388.3389.7991.2196.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)77.4178.2078.99
Year 2 PV (M)71.5172.9874.46
Year 3 PV (M)66.0268.0670.14
Year 4 PV (M)60.9063.4266.03
Year 5 PV (M)56.1459.0662.11
PV of Terminal Value (M)977.501,028.401,081.40
Equity Value (M)1,309.471,370.121,433.12
Shares Outstanding (M)65.3065.3065.30
Fair Value$20.05$20.98$21.95
Upside / Downside8.04%13.04%18.24%

High-Yield Dividend Screener

« Prev Page 7 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PLYMPlymouth Industrial REIT, Inc.4.80%$1.0549.94%
SAFTSafety Insurance Group, Inc.4.80%$3.6361.47%
CETCentral Securities Corp.4.79%$2.4313.87%
GBLIGlobal Indemnity Group, LLC4.79%$1.3870.11%
JANIXJanus Henderson Triton Fund Class D4.79%$1.2767.95%
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 20294.77%$1.2175.90%
PRUPrudential Financial, Inc.4.77%$5.4373.37%
IFAFXThe Income Fund of America, Class F-1 Shares4.76%$1.2433.91%
AMECXAmerican Funds The Income Fund of America Class A4.74%$1.2433.91%
UMPQUmpqua Holdings Corporation4.74%$0.8454.13%
NFBKNorthfield Bancorp, Inc.4.73%$0.5454.01%
SBSISouthside Bancshares, Inc.4.72%$1.4462.24%
TNLTravel + Leisure Co.4.72%$3.4054.99%
AIRCApartment Income REIT Corp.4.68%$1.8341.27%
SONSonoco Products Company4.68%$2.0832.95%
OFLXOmega Flex, Inc.4.67%$1.3685.30%
FTAIOFTAI Aviation Ltd.4.65%$1.1825.22%
WDWalker & Dunlop, Inc.4.65%$2.7379.29%
0J2Z.LHA Sustainable Infrastructure Capital, Inc.4.63%$1.4766.70%
FLMNFalcon Minerals Corporation4.63%$0.3681.83%
GSRMGSR II Meteora Acquisition Corp.4.62%$0.1532.94%
FBFWXAmerican Funds Retirement Income Portfolio - Moderate Class F-14.61%$0.6379.77%
GPSThe Gap, Inc.4.61%$0.9341.48%
QUADQuad/Graphics, Inc.4.61%$0.2764.56%
BMYBristol-Myers Squibb Company4.59%$2.4582.81%
WTBAWest Bancorporation, Inc.4.56%$0.9952.39%
SCPLSciPlay Corporation4.55%$1.0417.40%
OLPOne Liberty Properties, Inc.4.53%$0.9257.61%
RWAYLRunway Growth Finance Corp. - 74.53%$1.1475.51%
INSWInternational Seaways, Inc.4.52%$2.1248.43%
RWAYZRunway Growth Finance Corp. 8.00% Notes due 20274.52%$1.1475.51%
DDominion Energy, Inc.4.48%$2.6597.13%
TGTTarget Corporation4.48%$4.5054.48%
COLBColumbia Banking System, Inc.4.47%$1.2662.95%
DFPAXBNY Mellon Diversified International Fund Class A4.46%$0.4556.12%
KEYKeyCorp4.46%$0.9495.81%
RPTIXT. Rowe Price Mid-Cap Growth Fund4.46%$4.3859.54%
CGBDCarlyle Secured Lending, Inc.4.45%$0.5655.08%
NEWTPNewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B4.44%$1.0244.14%
PFCPremier Financial Corp.4.43%$1.2468.07%
BFCBank First Corporation4.40%$5.3073.82%
DUKDuke Energy Corporation4.40%$5.1780.55%
0L77.LSkyworks Solutions, Inc.4.37%$2.7990.67%
ESCAEscalade, Incorporated4.35%$0.6065.28%
DINOHF Sinclair Corporation4.34%$2.0396.43%
LBAILakeland Bancorp, Inc.4.34%$0.5844.96%
CVXChevron Corporation4.32%$6.7495.36%
CVBFCVB Financial Corp.4.31%$0.8154.32%
HTBKHeritage Commerce Corp4.30%$0.5273.66%
EQREquity Residential4.28%$2.6689.76%