Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

ABO Energy GmbH & Co. KGaA (AB9.DE)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$979.79 - $1,154.36$1,081.80
Multi-Stage$738.59 - $810.74$773.99
Blended Fair Value$927.89
Current Price$38.60
Upside2,303.87%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.50%13.72%0.600.540.490.450.390.350.330.410.210.18
YoY Growth--11.13%10.20%8.89%16.61%10.81%5.00%-20.01%99.95%13.67%10.01%
Dividend Yield--1.66%1.33%0.66%0.81%0.83%2.05%1.95%2.44%1.22%1.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)53.52
(-) Cash Dividends Paid (M)5.99
(=) Cash Retained (M)47.53
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.706.694.01
Cash Retained (M)47.5347.5347.53
(-) Cash Required (M)-10.70-6.69-4.01
(=) Excess Retained (M)36.8240.8443.51
(/) Shares Outstanding (M)9.229.229.22
(=) Excess Retained per Share3.994.434.72
LTM Dividend per Share0.650.650.65
(+) Excess Retained per Share3.994.434.72
(=) Adjusted Dividend4.645.085.37
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate5.50%6.50%7.50%
Fair Value$979.79$1,081.80$1,154.36
Upside / Downside2,438.31%2,702.59%2,890.56%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)53.5257.0060.7164.6568.8573.3375.53
Payout Ratio11.20%26.96%42.72%58.48%74.24%90.00%92.50%
Projected Dividends (M)5.9915.3725.9337.8151.1266.0069.86

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)15.2015.3515.49
Year 2 PV (M)25.3825.8726.35
Year 3 PV (M)36.6137.6638.73
Year 4 PV (M)48.9750.8552.79
Year 5 PV (M)62.5565.5768.71
PV of Terminal Value (M)6,621.726,941.567,273.63
Equity Value (M)6,810.447,136.867,475.71
Shares Outstanding (M)9.229.229.22
Fair Value$738.59$773.99$810.74
Upside / Downside1,813.44%1,905.15%2,000.35%

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