Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Delta Plus Group (0RUJ.L)

Company Dividend Discount ModelIndustry: Apparel - Footwear & AccessoriesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1,405.16 - $1,655.51$1,551.46
Multi-Stage$941.15 - $1,032.85$986.15
Blended Fair Value$1,268.80
Current Price$46.80
Upside2,611.11%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.04%16.25%1.331.091.090.990.690.690.610.580.430.37
YoY Growth--22.75%-0.03%10.00%42.89%0.00%13.14%4.66%36.53%14.14%26.63%
Dividend Yield--2.39%1.40%1.51%1.05%0.98%1.41%1.92%1.28%1.54%1.74%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)60.30
(-) Cash Dividends Paid (M)17.74
(=) Cash Retained (M)42.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.067.544.52
Cash Retained (M)42.5642.5642.56
(-) Cash Required (M)-12.06-7.54-4.52
(=) Excess Retained (M)30.5035.0238.04
(/) Shares Outstanding (M)7.247.247.24
(=) Excess Retained per Share4.214.835.25
LTM Dividend per Share2.452.452.45
(+) Excess Retained per Share4.214.835.25
(=) Adjusted Dividend6.667.287.70
WACC / Discount Rate2.61%2.61%2.61%
Growth Rate5.50%6.50%7.50%
Fair Value$1,405.16$1,551.46$1,655.51
Upside / Downside2,902.47%3,215.08%3,437.42%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)60.3064.2268.4072.8477.5882.6285.10
Payout Ratio29.42%41.54%53.65%65.77%77.88%90.00%92.50%
Projected Dividends (M)17.7426.6836.7047.9160.4274.3678.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.61%2.61%2.61%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)25.7526.0026.24
Year 2 PV (M)34.2034.8535.51
Year 3 PV (M)43.1044.3445.60
Year 4 PV (M)52.4854.4956.57
Year 5 PV (M)62.3465.3668.48
PV of Terminal Value (M)6,599.856,918.627,249.60
Equity Value (M)6,817.727,143.667,482.00
Shares Outstanding (M)7.247.247.24
Fair Value$941.15$986.15$1,032.85
Upside / Downside1,911.01%2,007.15%2,106.95%

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