Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Interface, Inc. (TILE)

Company Dividend Discount ModelIndustry: Furnishings, Fixtures & AppliancesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$14.94 - $22.02$18.33
Multi-Stage$28.02 - $30.89$29.43
Blended Fair Value$23.88
Current Price$28.73
Upside-16.88%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-31.37%-12.89%0.040.040.040.040.090.260.260.260.240.20
YoY Growth--0.65%-1.36%-0.30%-57.56%-63.76%-0.73%-0.10%8.41%20.19%27.84%
Dividend Yield--0.20%0.24%0.49%0.30%0.73%1.56%1.68%1.06%1.29%1.12%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)113.48
(-) Cash Dividends Paid (M)2.98
(=) Cash Retained (M)110.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.7014.188.51
Cash Retained (M)110.50110.50110.50
(-) Cash Required (M)-22.70-14.18-8.51
(=) Excess Retained (M)87.8096.31101.98
(/) Shares Outstanding (M)59.1859.1859.18
(=) Excess Retained per Share1.481.631.72
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share1.481.631.72
(=) Adjusted Dividend1.531.681.77
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate-2.41%-1.41%-0.41%
Fair Value$14.94$18.33$22.02
Upside / Downside-48.01%-36.19%-23.37%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)113.48111.87110.30108.74107.20105.69108.86
Payout Ratio2.63%20.10%37.58%55.05%72.53%90.00%92.50%
Projected Dividends (M)2.9822.4941.4459.8677.7595.12100.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.61%7.61%7.61%
Growth Rate-2.41%-1.41%-0.41%
Year 1 PV (M)20.6920.9021.11
Year 2 PV (M)35.0735.7936.52
Year 3 PV (M)46.5948.0449.51
Year 4 PV (M)55.6657.9860.37
Year 5 PV (M)62.6465.9269.33
PV of Terminal Value (M)1,437.891,513.081,591.39
Equity Value (M)1,658.531,741.701,828.23
Shares Outstanding (M)59.1859.1859.18
Fair Value$28.02$29.43$30.89
Upside / Downside-2.46%2.43%7.52%

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