Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Y.Z. Queenco Ltd. (QNCO.TA)

Company Dividend Discount ModelIndustry: Gambling, Resorts & CasinosSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$7.72 - $11.32$9.45
Multi-Stage$11.18 - $12.26$11.71
Blended Fair Value$10.58
Current Price$7.09
Upside49.22%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.250.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--4.49%0.00%0.00%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)29.16
(-) Cash Dividends Paid (M)7.45
(=) Cash Retained (M)21.72
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.833.652.19
Cash Retained (M)21.7221.7221.72
(-) Cash Required (M)-5.83-3.65-2.19
(=) Excess Retained (M)15.8818.0719.53
(/) Shares Outstanding (M)29.3429.3429.34
(=) Excess Retained per Share0.540.620.67
LTM Dividend per Share0.250.250.25
(+) Excess Retained per Share0.540.620.67
(=) Adjusted Dividend0.800.870.92
WACC / Discount Rate9.54%9.54%9.54%
Growth Rate-0.69%0.31%1.31%
Fair Value$7.72$9.45$11.32
Upside / Downside8.85%33.28%59.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)29.1629.2529.3429.4329.5229.6130.50
Payout Ratio25.53%38.42%51.32%64.21%77.11%90.00%92.50%
Projected Dividends (M)7.4511.2415.0618.9022.7626.6528.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.54%9.54%9.54%
Growth Rate-0.69%0.31%1.31%
Year 1 PV (M)10.1610.2610.36
Year 2 PV (M)12.3012.5512.80
Year 3 PV (M)13.9514.3814.81
Year 4 PV (M)15.1915.8116.45
Year 5 PV (M)16.0716.9017.76
PV of Terminal Value (M)260.31273.68287.60
Equity Value (M)327.99343.58359.79
Shares Outstanding (M)29.3429.3429.34
Fair Value$11.18$11.71$12.26
Upside / Downside57.65%65.15%72.94%

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