Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Cowen Inc. (COWN)

Company Dividend Discount ModelIndustry: Financial - Capital MarketsSector: Financial Services

Valuation Snapshot

Stable Growth$15.15 - $21.97$18.46
Multi-Stage$25.48 - $27.99$26.71
Blended Fair Value$22.59
Current Price$38.62
Upside-41.52%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS0.00%0.00%0.690.570.390.000.000.000.000.000.000.00
YoY Growth--20.80%45.30%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.79%2.11%1.12%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)65.86
(-) Cash Dividends Paid (M)21.94
(=) Cash Retained (M)43.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.178.234.94
Cash Retained (M)43.9143.9143.91
(-) Cash Required (M)-13.17-8.23-4.94
(=) Excess Retained (M)30.7435.6838.97
(/) Shares Outstanding (M)31.7431.7431.74
(=) Excess Retained per Share0.971.121.23
LTM Dividend per Share0.690.690.69
(+) Excess Retained per Share0.971.121.23
(=) Adjusted Dividend1.661.821.92
WACC / Discount Rate8.74%8.74%8.74%
Growth Rate-2.00%-1.00%0.00%
Fair Value$15.15$18.46$21.97
Upside / Downside-60.77%-52.20%-43.12%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)65.8665.2064.5463.9063.2662.6364.51
Payout Ratio33.32%44.66%55.99%67.33%78.66%90.00%92.50%
Projected Dividends (M)21.9429.1236.1443.0249.7656.3659.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.74%8.74%8.74%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)26.5126.7827.05
Year 2 PV (M)29.9530.5731.19
Year 3 PV (M)32.4633.4634.49
Year 4 PV (M)34.1835.6037.06
Year 5 PV (M)35.2537.0838.99
PV of Terminal Value (M)650.51684.38719.65
Equity Value (M)808.85847.87888.42
Shares Outstanding (M)31.7431.7431.74
Fair Value$25.48$26.71$27.99
Upside / Downside-34.02%-30.84%-27.53%

High-Yield Dividend Screener

« Prev Page 78 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
688625.SSGCH Technology Co., Ltd.1.73%$0.7135.67%
ATCO-A.STAtlas Copco AB1.73%$2.9051.19%
KAZT.MEPJSC KuibyshevAzot1.73%$7.209.57%
PROT.OLProtector Forsikring ASA1.73%$9.0232.47%
018260.KSSamsung SDS Co.,Ltd.1.72%$3,013.9430.15%
029460.KSKC Co., Ltd.1.72%$456.826.78%
3308.HKGolden Eagle Retail Group Limited1.72%$0.129.52%
403870.KQHPSP Co., Ltd.1.72%$593.5058.19%
688128.SSChina National Electric Apparatus Research Institute Co., Ltd.1.72%$0.5038.48%
9516.SRNatural Gas Distribution Company1.72%$0.5031.24%
AMRT.JKPT Sumber Alfaria Trijaya Tbk1.72%$34.1146.22%
CENTEL-R.BKCentral Plaza Hotel Public Company Limited1.72%$0.5947.25%
EMP-A.TOEmpire Company Limited1.72%$0.8327.46%
LSNG.MEPublic Joint stock company Rosseti Lenenergo1.72%$0.267.85%
MAD.AXMader Group Limited1.72%$0.1328.01%
RUSTA.STRusta AB (publ)1.72%$1.4547.44%
000655.SZShandong Jinling Mining Co., Ltd.1.71%$0.1635.18%
002166.SZGuilin Layn Natural Ingredients Corp.1.71%$0.1479.28%
009140.KSKyungin Electronics Co., Ltd1.71%$350.0224.51%
009290.KSKwang Dong Pharmaceutical Co., Ltd.1.71%$100.1413.46%
300196.SZJiangsu Changhai Composite Materials Co., Ltd1.71%$0.2530.44%
300973.SZLigao Foods Co.Ltd1.71%$0.7340.03%
4144.SRRaoom Trading Co.1.71%$1.1283.18%
601801.SSAnhui Xinhua Media Co., Ltd.1.71%$0.1125.98%
688358.SSChison Medical Technologies Co., Ltd.1.71%$0.5142.24%
CAMBI.OLCambi ASA1.71%$0.3030.04%
ICOS.MIIntercos S.p.A.1.71%$0.1937.87%
MZX.DEMasterflex SE1.71%$0.2428.96%
SKIS-B.STSkiStar AB (publ)1.71%$2.8039.71%
000990.KSDB HiTek Co. Ltd.1.70%$1,253.0620.53%
001207.SZShandong Link Science and Technology Co.,Ltd.1.70%$0.4327.93%
002593.SZXiamen Sunrise Group Co., Ltd.1.70%$0.1081.27%
300218.SZAnhui Anli Material Technology Co., Ltd.1.70%$0.2835.78%
300509.SZJiangsu Newamstar Packaging Machinery Co.,Ltd1.70%$0.2266.41%
300999.SZYihai Kerry Arawana Holdings Co., Ltd1.70%$0.4969.28%
301665.SZCAC Nantong Chemical Co Ltd1.70%$0.4846.18%
600004.SSGuangzhou Baiyun International Airport Co., Ltd.1.70%$0.1628.12%
600279.SSChongqing Port Co.,Ltd.1.70%$0.0921.95%
601512.SSChina-Singapore Suzhou Industrial Park Development Group Co., Ltd.1.70%$0.1528.77%
603612.SSSunstone Development Co., Ltd.1.70%$0.4027.82%
000905.SZXiamen Port Development Co., Ltd.1.69%$0.2279.86%
000949.SZXinxiang Chemical Fiber Co., Ltd.1.69%$0.0986.02%
600814.SSHangzhou Jiebai Group Co., Limited1.69%$0.1451.31%
688772.SSZhuhai CosMX Battery Co., Ltd.1.69%$0.3674.20%
7631.TWOGenii Ideas Co., Ltd.1.69%$2.1647.81%
BFT.WABenefit Systems S.A.1.69%$60.5337.69%
CJT.TOCargojet Inc.1.69%$1.4517.55%
002243.SZShenzhen Leaguer Co., Ltd.1.68%$0.1788.79%
161890.KSKolmar Korea Co., Ltd.1.68%$1,095.5022.79%
300041.SZHubei Huitian New Materials Co., Ltd.1.68%$0.1968.24%