Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Compagnie de Saint-Gobain S.A. (GOB.DE)

Company Dividend Discount ModelIndustry: ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$130.28 - $228.68$172.15
Multi-Stage$154.87 - $169.62$162.11
Blended Fair Value$167.13
Current Price$99.64
Upside67.73%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.86%4.31%2.082.011.661.390.001.421.411.381.351.38
YoY Growth--3.16%21.61%19.51%0.00%-100.00%1.27%2.02%1.91%-2.16%1.46%
Dividend Yield--2.42%3.04%3.63%2.24%0.00%3.90%4.82%3.02%3.05%3.47%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,877.50
(-) Cash Dividends Paid (M)1,593.00
(=) Cash Retained (M)3,284.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)975.50609.69365.81
Cash Retained (M)3,284.503,284.503,284.50
(-) Cash Required (M)-975.50-609.69-365.81
(=) Excess Retained (M)2,309.002,674.812,918.69
(/) Shares Outstanding (M)503.18503.18503.18
(=) Excess Retained per Share4.595.325.80
LTM Dividend per Share3.173.173.17
(+) Excess Retained per Share4.595.325.80
(=) Adjusted Dividend7.758.488.97
WACC / Discount Rate8.40%8.40%8.40%
Growth Rate2.31%3.31%4.31%
Fair Value$130.28$172.15$228.68
Upside / Downside30.75%72.77%129.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,877.505,039.145,206.145,378.675,556.925,741.075,913.30
Payout Ratio32.66%44.13%55.60%67.06%78.53%90.00%92.50%
Projected Dividends (M)1,593.002,223.682,894.413,607.154,363.965,166.975,469.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.40%8.40%8.40%
Growth Rate2.31%3.31%4.31%
Year 1 PV (M)2,031.432,051.292,071.14
Year 2 PV (M)2,415.572,463.022,510.93
Year 3 PV (M)2,750.142,831.572,914.59
Year 4 PV (M)3,039.493,160.083,284.21
Year 5 PV (M)3,287.653,451.493,621.79
PV of Terminal Value (M)64,401.7767,611.1670,947.23
Equity Value (M)77,926.0681,568.6085,349.91
Shares Outstanding (M)503.18503.18503.18
Fair Value$154.87$162.11$169.62
Upside / Downside55.43%62.69%70.23%

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