Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Fnac Darty S.A. (FNAC.PA)

Company Dividend Discount ModelIndustry: Specialty RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$62.99 - $110.99$83.36
Multi-Stage$112.17 - $123.33$117.64
Blended Fair Value$100.50
Current Price$33.60
Upside199.12%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.630.761.960.950.000.000.000.010.000.00
YoY Growth---17.76%-61.09%105.99%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%
Dividend Yield--2.19%2.77%5.68%1.65%0.00%0.00%0.00%0.01%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)133.30
(-) Cash Dividends Paid (M)38.90
(=) Cash Retained (M)94.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.6616.6610.00
Cash Retained (M)94.4094.4094.40
(-) Cash Required (M)-26.66-16.66-10.00
(=) Excess Retained (M)67.7477.7484.40
(/) Shares Outstanding (M)28.0928.0928.09
(=) Excess Retained per Share2.412.773.00
LTM Dividend per Share1.381.381.38
(+) Excess Retained per Share2.412.773.00
(=) Adjusted Dividend3.804.154.39
WACC / Discount Rate6.40%6.40%6.40%
Growth Rate0.35%1.35%2.35%
Fair Value$62.99$83.36$110.99
Upside / Downside87.46%148.11%230.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)133.30135.10136.92138.77140.64142.54146.81
Payout Ratio29.18%41.35%53.51%65.67%77.84%90.00%92.50%
Projected Dividends (M)38.9055.8673.2791.13109.47128.28135.80

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.40%6.40%6.40%
Growth Rate0.35%1.35%2.35%
Year 1 PV (M)51.9852.5053.02
Year 2 PV (M)63.4564.7266.00
Year 3 PV (M)73.4575.6677.93
Year 4 PV (M)82.1085.4288.85
Year 5 PV (M)89.5494.0998.82
PV of Terminal Value (M)2,790.622,932.473,080.02
Equity Value (M)3,151.143,304.863,464.64
Shares Outstanding (M)28.0928.0928.09
Fair Value$112.17$117.64$123.33
Upside / Downside233.84%250.12%267.05%

High-Yield Dividend Screener

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