Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Crescera Capital Acquisition Corp. (CREC)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$5.14 - $8.15$6.52
Multi-Stage$13.18 - $14.52$13.84
Blended Fair Value$10.18
Current Price$10.82
Upside-5.94%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20222021
DPS0.00%0.00%0.150.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.45%0.00%0.00%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)10.01
(-) Cash Dividends Paid (M)4.02
(=) Cash Retained (M)5.99
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.001.250.75
Cash Retained (M)5.995.995.99
(-) Cash Required (M)-2.00-1.25-0.75
(=) Excess Retained (M)3.994.745.24
(/) Shares Outstanding (M)19.4819.4819.48
(=) Excess Retained per Share0.200.240.27
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.200.240.27
(=) Adjusted Dividend0.410.450.48
WACC / Discount Rate5.83%5.83%5.83%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.14$6.52$8.15
Upside / Downside-52.45%-39.77%-24.66%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10.019.919.819.719.629.529.81
Payout Ratio40.15%50.12%60.09%70.06%80.03%90.00%92.50%
Projected Dividends (M)4.024.975.906.817.708.579.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.83%5.83%5.83%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4.654.694.74
Year 2 PV (M)5.165.265.37
Year 3 PV (M)5.575.745.92
Year 4 PV (M)5.896.146.39
Year 5 PV (M)6.146.456.79
PV of Terminal Value (M)229.33241.27253.71
Equity Value (M)256.73269.57282.91
Shares Outstanding (M)19.4819.4819.48
Fair Value$13.18$13.84$14.52
Upside / Downside21.80%27.89%34.22%

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