Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Richards Packaging Income Fund (RPI-UN.TO)

Company Dividend Discount ModelIndustry: Packaging & ContainersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$72.88 - $386.53$144.84
Multi-Stage$51.20 - $55.96$53.54
Blended Fair Value$99.19
Current Price$34.50
Upside187.51%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.72%6.64%1.681.281.931.291.301.271.361.311.100.91
YoY Growth--31.17%-33.59%49.10%-0.37%2.04%-6.66%3.85%19.55%20.16%3.39%
Dividend Yield--6.26%3.77%4.85%2.55%1.87%3.27%3.54%4.19%4.21%4.35%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)22.37
(-) Cash Dividends Paid (M)18.53
(=) Cash Retained (M)3.84
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.472.801.68
Cash Retained (M)3.843.843.84
(-) Cash Required (M)-4.47-2.80-1.68
(=) Excess Retained (M)-0.641.042.16
(/) Shares Outstanding (M)11.4211.4211.42
(=) Excess Retained per Share-0.060.090.19
LTM Dividend per Share1.621.621.62
(+) Excess Retained per Share-0.060.090.19
(=) Adjusted Dividend1.571.711.81
WACC / Discount Rate6.89%6.89%6.89%
Growth Rate4.64%5.64%6.64%
Fair Value$72.88$144.84$386.53
Upside / Downside111.26%319.84%1,020.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)22.3723.6324.9626.3727.8629.4330.31
Payout Ratio82.84%84.28%85.71%87.14%88.57%90.00%92.50%
Projected Dividends (M)18.5319.9221.4022.9824.6726.4828.04

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.89%6.89%6.89%
Growth Rate4.64%5.64%6.64%
Year 1 PV (M)18.4618.6318.81
Year 2 PV (M)18.3818.7319.08
Year 3 PV (M)18.2918.8219.36
Year 4 PV (M)18.2018.9019.63
Year 5 PV (M)18.1018.9819.90
PV of Terminal Value (M)493.21517.24542.19
Equity Value (M)584.63611.30638.97
Shares Outstanding (M)11.4211.4211.42
Fair Value$51.20$53.54$55.96
Upside / Downside48.41%55.18%62.21%

High-Yield Dividend Screener

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