Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dedicare AB (publ) (DEDI.ST)

Company Dividend Discount ModelIndustry: Staffing & Employment ServicesSector: Industrials

Valuation Snapshot

Stable Growth$42.87 - $66.78$53.90
Multi-Stage$38.40 - $41.67$40.01
Blended Fair Value$46.95
Current Price$46.95
Upside0.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.64%19.32%5.985.983.972.450.003.784.727.553.752.25
YoY Growth--0.04%50.67%62.13%0.00%-100.00%-20.00%-37.49%101.43%66.67%119.97%
Dividend Yield--12.44%5.89%2.76%3.22%0.00%9.21%8.35%10.12%2.54%4.62%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)40.00
(-) Cash Dividends Paid (M)23.94
(=) Cash Retained (M)16.06
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.005.003.00
Cash Retained (M)16.0616.0616.06
(-) Cash Required (M)-8.00-5.00-3.00
(=) Excess Retained (M)8.0611.0613.06
(/) Shares Outstanding (M)9.599.599.59
(=) Excess Retained per Share0.841.151.36
LTM Dividend per Share2.502.502.50
(+) Excess Retained per Share0.841.151.36
(=) Adjusted Dividend3.343.653.86
WACC / Discount Rate13.71%13.71%13.71%
Growth Rate5.50%6.50%7.50%
Fair Value$42.87$53.90$66.78
Upside / Downside-8.69%14.80%42.24%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)40.0042.6045.3748.3251.4654.8056.45
Payout Ratio59.86%65.89%71.91%77.94%83.97%90.00%92.50%
Projected Dividends (M)23.9428.0732.6337.6643.2149.3252.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate13.71%13.71%13.71%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)24.4524.6824.92
Year 2 PV (M)24.7625.2325.71
Year 3 PV (M)24.9025.6226.34
Year 4 PV (M)24.8925.8526.83
Year 5 PV (M)24.7525.9527.19
PV of Terminal Value (M)244.71256.52268.80
Equity Value (M)368.46383.85399.79
Shares Outstanding (M)9.599.599.59
Fair Value$38.40$40.01$41.67
Upside / Downside-18.20%-14.79%-11.25%

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