Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Petershill Partners PLC (PHLL.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$8.04 - $11.87$9.87
Multi-Stage$15.06 - $16.53$15.78
Blended Fair Value$12.83
Current Price$3.06
Upside319.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.360.150.060.000.000.000.000.000.000.00
YoY Growth--146.57%156.33%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--11.55%6.72%2.78%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,267.28
(-) Cash Dividends Paid (M)761.36
(=) Cash Retained (M)505.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)253.46158.4195.05
Cash Retained (M)505.91505.91505.91
(-) Cash Required (M)-253.46-158.41-95.05
(=) Excess Retained (M)252.46347.50410.87
(/) Shares Outstanding (M)1,241.161,241.161,241.16
(=) Excess Retained per Share0.200.280.33
LTM Dividend per Share0.610.610.61
(+) Excess Retained per Share0.200.280.33
(=) Adjusted Dividend0.820.890.94
WACC / Discount Rate7.96%7.96%7.96%
Growth Rate-2.00%-1.00%0.00%
Fair Value$8.04$9.87$11.87
Upside / Downside162.72%222.69%287.88%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,267.281,254.611,242.061,229.641,217.341,205.171,241.32
Payout Ratio60.08%66.06%72.05%78.03%84.02%90.00%92.50%
Projected Dividends (M)761.36828.83894.87959.511,022.761,084.651,148.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.96%7.96%7.96%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)759.98767.74775.49
Year 2 PV (M)752.38767.81783.40
Year 3 PV (M)739.71762.59785.93
Year 4 PV (M)722.98752.95783.83
Year 5 PV (M)703.04739.65777.77
PV of Terminal Value (M)15,012.9315,794.6916,608.68
Equity Value (M)18,691.0419,585.4320,515.11
Shares Outstanding (M)1,241.161,241.161,241.16
Fair Value$15.06$15.78$16.53
Upside / Downside392.13%415.68%440.16%

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