Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Hufvudstaden AB (publ) (HUFV-A.ST)

Company Dividend Discount ModelIndustry: Real Estate - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$48.81 - $74.71$60.91
Multi-Stage$116.60 - $128.38$122.37
Blended Fair Value$91.64
Current Price$126.80
Upside-27.73%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-6.47%-0.38%2.702.702.602.503.983.783.573.373.162.96
YoY Growth--0.00%3.84%3.99%-37.12%5.40%5.72%6.05%6.46%6.89%5.47%
Dividend Yield--2.39%2.12%1.85%1.87%3.14%2.78%2.22%2.72%2.38%2.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,102.20
(-) Cash Dividends Paid (M)566.50
(=) Cash Retained (M)535.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)220.44137.7882.67
Cash Retained (M)535.70535.70535.70
(-) Cash Required (M)-220.44-137.78-82.67
(=) Excess Retained (M)315.26397.93453.04
(/) Shares Outstanding (M)202.03202.03202.03
(=) Excess Retained per Share1.561.972.24
LTM Dividend per Share2.802.802.80
(+) Excess Retained per Share1.561.972.24
(=) Adjusted Dividend4.364.775.05
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate-2.38%-1.38%-0.38%
Fair Value$48.81$60.91$74.71
Upside / Downside-61.51%-51.96%-41.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,102.201,087.031,072.061,057.311,042.751,028.401,059.25
Payout Ratio51.40%59.12%66.84%74.56%82.28%90.00%92.50%
Projected Dividends (M)566.50642.63716.55788.32857.97925.56979.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate-2.38%-1.38%-0.38%
Year 1 PV (M)598.11604.24610.37
Year 2 PV (M)620.72633.50646.42
Year 3 PV (M)635.59655.32675.46
Year 4 PV (M)643.83670.62698.24
Year 5 PV (M)646.44680.24715.43
PV of Terminal Value (M)20,411.4421,478.5022,589.72
Equity Value (M)23,556.1524,722.4325,935.63
Shares Outstanding (M)202.03202.03202.03
Fair Value$116.60$122.37$128.38
Upside / Downside-8.04%-3.49%1.24%

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