Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hudaco Industries Limited (HDC.JO)

Company Dividend Discount ModelIndustry: Industrial - DistributionSector: Industrials

Valuation Snapshot

Stable Growth$891.92 - $2,322.38$1,356.05
Multi-Stage$759.03 - $828.56$793.16
Blended Fair Value$1,074.61
Current Price$197.51
Upside444.08%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.43%8.14%11.2910.129.647.434.526.297.386.186.055.51
YoY Growth--11.61%5.03%29.72%64.22%-28.07%-14.75%19.26%2.18%9.84%6.65%
Dividend Yield--5.63%6.20%6.88%5.32%5.29%5.82%5.19%4.55%5.58%5.15%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,118.54
(-) Cash Dividends Paid (M)837.57
(=) Cash Retained (M)280.98
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)223.71139.8283.89
Cash Retained (M)280.98280.98280.98
(-) Cash Required (M)-223.71-139.82-83.89
(=) Excess Retained (M)57.27141.16197.09
(/) Shares Outstanding (M)28.6928.6928.69
(=) Excess Retained per Share2.004.926.87
LTM Dividend per Share29.2029.2029.20
(+) Excess Retained per Share2.004.926.87
(=) Adjusted Dividend31.1934.1236.07
WACC / Discount Rate8.12%8.12%8.12%
Growth Rate4.46%5.46%6.46%
Fair Value$891.92$1,356.05$2,322.38
Upside / Downside351.58%586.57%1,075.83%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,118.541,179.641,244.061,312.011,383.671,459.241,503.02
Payout Ratio74.88%77.90%80.93%83.95%86.98%90.00%92.50%
Projected Dividends (M)837.57918.981,006.801,101.461,203.461,313.321,390.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.12%8.12%8.12%
Growth Rate4.46%5.46%6.46%
Year 1 PV (M)841.94850.00858.06
Year 2 PV (M)845.07861.33877.74
Year 3 PV (M)847.03871.58896.61
Year 4 PV (M)847.88880.82914.70
Year 5 PV (M)847.71889.07932.03
PV of Terminal Value (M)17,544.0618,400.0319,289.09
Equity Value (M)21,773.7022,752.8423,768.24
Shares Outstanding (M)28.6928.6928.69
Fair Value$759.03$793.16$828.56
Upside / Downside284.30%301.58%319.50%

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