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Bilia AB (publ) (BILI-A.ST)

Company Dividend Discount ModelIndustry: Auto - DealershipsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$241.21 - $1,088.53$422.40
Multi-Stage$189.91 - $207.57$198.58
Blended Fair Value$310.49
Current Price$115.00
Upside169.99%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.41%11.30%7.098.505.986.310.005.194.904.434.093.25
YoY Growth---16.69%42.27%-5.28%0.00%-100.00%5.92%10.68%8.42%25.83%33.63%
Dividend Yield--5.51%6.25%4.67%4.69%0.00%8.47%6.11%5.99%4.42%3.57%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)727.00
(-) Cash Dividends Paid (M)566.00
(=) Cash Retained (M)161.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)145.4090.8854.53
Cash Retained (M)161.00161.00161.00
(-) Cash Required (M)-145.40-90.88-54.53
(=) Excess Retained (M)15.6070.13106.48
(/) Shares Outstanding (M)93.0193.0193.01
(=) Excess Retained per Share0.170.751.14
LTM Dividend per Share6.096.096.09
(+) Excess Retained per Share0.170.751.14
(=) Adjusted Dividend6.256.847.23
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate4.41%5.41%6.41%
Fair Value$241.21$422.40$1,088.53
Upside / Downside109.75%267.31%846.55%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)727.00766.34807.81851.52897.60946.17974.56
Payout Ratio77.85%80.28%82.71%85.14%87.57%90.00%92.50%
Projected Dividends (M)566.00615.24668.16725.00786.04851.55901.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate4.41%5.41%6.41%
Year 1 PV (M)568.91574.36579.81
Year 2 PV (M)571.31582.31593.41
Year 3 PV (M)573.23589.86606.81
Year 4 PV (M)574.69597.02620.00
Year 5 PV (M)575.70603.81633.00
PV of Terminal Value (M)14,799.2515,521.6616,272.00
Equity Value (M)17,663.1018,469.0219,305.03
Shares Outstanding (M)93.0193.0193.01
Fair Value$189.91$198.58$207.57
Upside / Downside65.14%72.68%80.49%

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