Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Fibra Shop (FSHOP13.MX)

Company Dividend Discount ModelIndustry: REIT - RetailSector: Real Estate

Valuation Snapshot

Stable Growth$26.55 - $38.50$32.35
Multi-Stage$43.55 - $47.90$45.68
Blended Fair Value$39.02
Current Price$8.86
Upside340.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.420.120.080.450.300.000.000.000.000.00
YoY Growth--250.00%60.00%-83.33%49.91%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--4.85%1.93%1.26%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)2,414.26
(-) Cash Dividends Paid (M)360.00
(=) Cash Retained (M)2,054.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)482.85301.78181.07
Cash Retained (M)2,054.262,054.262,054.26
(-) Cash Required (M)-482.85-301.78-181.07
(=) Excess Retained (M)1,571.411,752.481,873.19
(/) Shares Outstanding (M)663.73663.73663.73
(=) Excess Retained per Share2.372.642.82
LTM Dividend per Share0.540.540.54
(+) Excess Retained per Share2.372.642.82
(=) Adjusted Dividend2.913.183.36
WACC / Discount Rate8.74%8.74%8.74%
Growth Rate-2.00%-1.00%0.00%
Fair Value$26.55$32.35$38.50
Upside / Downside199.70%265.13%334.51%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,414.262,390.122,366.222,342.562,319.132,295.942,364.82
Payout Ratio14.91%29.93%44.95%59.96%74.98%90.00%92.50%
Projected Dividends (M)360.00715.341,063.541,404.701,738.942,066.352,187.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.74%8.74%8.74%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)651.20657.85664.49
Year 2 PV (M)881.37899.45917.71
Year 3 PV (M)1,059.721,092.491,125.93
Year 4 PV (M)1,194.241,243.741,294.76
Year 5 PV (M)1,291.861,359.131,429.17
PV of Terminal Value (M)23,826.0925,066.7726,358.60
Equity Value (M)28,904.4830,319.4231,790.67
Shares Outstanding (M)663.73663.73663.73
Fair Value$43.55$45.68$47.90
Upside / Downside391.52%415.58%440.60%

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