Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Signify N.V. (LIGHT.AS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$25.67 - $40.98$32.62
Multi-Stage$52.64 - $57.82$55.18
Blended Fair Value$43.90
Current Price$22.30
Upside96.85%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.15%1.00%1.761.671.482.750.141.301.361.260.084.98
YoY Growth--5.24%12.90%-46.24%1,935.29%-89.63%-4.09%8.23%1,480.00%-98.40%213.00%
Dividend Yield--8.81%5.89%4.83%6.48%0.31%7.37%5.55%4.12%0.30%22.62%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)312.00
(-) Cash Dividends Paid (M)218.00
(=) Cash Retained (M)94.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)62.4039.0023.40
Cash Retained (M)94.0094.0094.00
(-) Cash Required (M)-62.40-39.00-23.40
(=) Excess Retained (M)31.6055.0070.60
(/) Shares Outstanding (M)125.80125.80125.80
(=) Excess Retained per Share0.250.440.56
LTM Dividend per Share1.731.731.73
(+) Excess Retained per Share0.250.440.56
(=) Adjusted Dividend1.982.172.29
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate-1.00%0.00%1.00%
Fair Value$25.67$32.62$40.98
Upside / Downside15.09%46.26%83.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)312.00312.01312.02312.03312.04312.05321.42
Payout Ratio69.87%73.90%77.92%81.95%85.97%90.00%92.50%
Projected Dividends (M)218.00230.57243.14255.71268.28280.85297.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate-1.00%0.00%1.00%
Year 1 PV (M)214.02216.18218.34
Year 2 PV (M)209.48213.73218.03
Year 3 PV (M)204.49210.75217.14
Year 4 PV (M)199.14207.31215.73
Year 5 PV (M)193.51203.48213.86
PV of Terminal Value (M)5,601.425,890.086,190.52
Equity Value (M)6,622.066,941.537,273.62
Shares Outstanding (M)125.80125.80125.80
Fair Value$52.64$55.18$57.82
Upside / Downside136.05%147.44%159.28%

High-Yield Dividend Screener

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