Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Livermore Investments Group Limited (LIV.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$0.70 - $1.02$0.85
Multi-Stage$1.28 - $1.40$1.34
Blended Fair Value$1.09
Current Price$0.67
Upside62.41%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%3.41%0.040.030.150.050.040.000.050.090.000.03
YoY Growth--40.89%-79.33%200.00%33.33%0.00%-100.00%-46.67%0.00%-100.00%0.00%
Dividend Yield--6.56%7.48%31.11%7.30%7.18%0.00%9.61%14.06%0.00%6.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)15.31
(-) Cash Dividends Paid (M)11.95
(=) Cash Retained (M)3.36
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.061.911.15
Cash Retained (M)3.363.363.36
(-) Cash Required (M)-3.06-1.91-1.15
(=) Excess Retained (M)0.301.452.21
(/) Shares Outstanding (M)165.36165.36165.36
(=) Excess Retained per Share0.000.010.01
LTM Dividend per Share0.070.070.07
(+) Excess Retained per Share0.000.010.01
(=) Adjusted Dividend0.070.080.09
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.70$0.85$1.02
Upside / Downside3.45%26.45%51.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)15.3115.1615.0114.8614.7114.5615.00
Payout Ratio78.04%80.43%82.82%85.21%87.61%90.00%92.50%
Projected Dividends (M)11.9512.1912.4312.6612.8813.1013.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)11.1311.2511.36
Year 2 PV (M)10.3610.5810.79
Year 3 PV (M)9.649.9410.24
Year 4 PV (M)8.969.339.71
Year 5 PV (M)8.328.759.20
PV of Terminal Value (M)162.83171.30180.13
Equity Value (M)211.24221.14231.44
Shares Outstanding (M)165.36165.36165.36
Fair Value$1.28$1.34$1.40
Upside / Downside89.48%98.36%107.60%

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