Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Green Brick Partners, Inc. (GRBK)

Company Dividend Discount ModelIndustry: Residential ConstructionSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$139.98 - $290.82$197.25
Multi-Stage$100.58 - $109.97$105.19
Blended Fair Value$151.22
Current Price$73.86
Upside104.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%-14.09%0.070.070.060.000.000.000.240.250.000.00
YoY Growth--0.00%2.28%0.00%0.00%0.00%-100.00%-1.37%0.00%0.00%-100.00%
Dividend Yield--0.11%0.11%0.18%0.00%0.00%0.00%2.61%2.26%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)338.67
(-) Cash Dividends Paid (M)2.88
(=) Cash Retained (M)335.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)67.7342.3325.40
Cash Retained (M)335.80335.80335.80
(-) Cash Required (M)-67.73-42.33-25.40
(=) Excess Retained (M)268.06293.46310.40
(/) Shares Outstanding (M)44.2044.2044.20
(=) Excess Retained per Share6.066.647.02
LTM Dividend per Share0.070.070.07
(+) Excess Retained per Share6.066.647.02
(=) Adjusted Dividend6.136.707.09
WACC / Discount Rate10.12%10.12%10.12%
Growth Rate5.50%6.50%7.50%
Fair Value$139.98$197.25$290.82
Upside / Downside89.52%167.06%293.74%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)338.67360.69384.13409.10435.69464.01477.93
Payout Ratio0.85%18.68%36.51%54.34%72.17%90.00%92.50%
Projected Dividends (M)2.8867.37140.24222.30314.44417.61442.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.12%10.12%10.12%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)60.6161.1861.76
Year 2 PV (M)113.49115.65117.83
Year 3 PV (M)161.83166.47171.21
Year 4 PV (M)205.91213.83221.98
Year 5 PV (M)246.01257.89270.23
PV of Terminal Value (M)3,657.813,834.484,017.92
Equity Value (M)4,445.664,649.524,860.92
Shares Outstanding (M)44.2044.2044.20
Fair Value$100.58$105.19$109.97
Upside / Downside36.17%42.42%48.89%

High-Yield Dividend Screener

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