Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Fiducian Group Ltd (FID.AX)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$41.39 - $211.76$84.71
Multi-Stage$23.80 - $25.98$24.87
Blended Fair Value$54.79
Current Price$9.75
Upside461.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS13.59%16.56%0.430.360.270.290.240.230.220.180.140.11
YoY Growth--18.96%33.09%-7.48%23.67%4.38%3.97%23.19%27.20%28.77%16.70%
Dividend Yield--4.40%4.79%4.66%4.02%3.54%4.54%4.19%3.81%3.41%4.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)33.61
(-) Cash Dividends Paid (M)24.95
(=) Cash Retained (M)8.66
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.724.202.52
Cash Retained (M)8.668.668.66
(-) Cash Required (M)-6.72-4.20-2.52
(=) Excess Retained (M)1.944.466.14
(/) Shares Outstanding (M)31.5631.5631.56
(=) Excess Retained per Share0.060.140.19
LTM Dividend per Share0.790.790.79
(+) Excess Retained per Share0.060.140.19
(=) Adjusted Dividend0.850.930.98
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate5.50%6.50%7.50%
Fair Value$41.39$84.71$211.76
Upside / Downside324.50%768.81%2,071.94%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)33.6135.7938.1240.6043.2446.0547.43
Payout Ratio74.24%77.39%80.54%83.69%86.85%90.00%92.50%
Projected Dividends (M)24.9527.7030.7033.9837.5541.4443.87

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)25.4925.7325.97
Year 2 PV (M)25.9926.4826.98
Year 3 PV (M)26.4627.2227.99
Year 4 PV (M)26.9027.9429.00
Year 5 PV (M)27.3228.6430.01
PV of Terminal Value (M)619.08648.99680.03
Equity Value (M)751.24784.99819.99
Shares Outstanding (M)31.5631.5631.56
Fair Value$23.80$24.87$25.98
Upside / Downside144.11%155.08%166.45%

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