Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wendel (MF.PA)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$100.21 - $178.57$133.22
Multi-Stage$138.47 - $151.47$144.85
Blended Fair Value$139.04
Current Price$89.60
Upside55.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.79%7.12%3.733.022.832.752.662.692.622.332.152.01
YoY Growth--23.51%6.92%2.76%3.26%-0.89%2.57%12.40%8.71%6.59%7.18%
Dividend Yield--4.02%3.75%3.24%2.61%2.72%2.27%2.50%1.64%1.88%1.84%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)334.75
(-) Cash Dividends Paid (M)271.60
(=) Cash Retained (M)63.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)66.9541.8425.11
Cash Retained (M)63.1563.1563.15
(-) Cash Required (M)-66.95-41.84-25.11
(=) Excess Retained (M)-3.8021.3138.04
(/) Shares Outstanding (M)46.0146.0146.01
(=) Excess Retained per Share-0.080.460.83
LTM Dividend per Share5.905.905.90
(+) Excess Retained per Share-0.080.460.83
(=) Adjusted Dividend5.826.376.73
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate1.76%2.76%3.76%
Fair Value$100.21$133.22$178.57
Upside / Downside11.84%48.69%99.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)334.75343.99353.49363.25373.28383.58395.09
Payout Ratio81.14%82.91%84.68%86.45%88.23%90.00%92.50%
Projected Dividends (M)271.60285.20299.34314.04329.33345.23365.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate1.76%2.76%3.76%
Year 1 PV (M)262.30264.88267.46
Year 2 PV (M)253.20258.20263.25
Year 3 PV (M)244.31251.59259.00
Year 4 PV (M)235.64245.04254.72
Year 5 PV (M)227.18238.56250.40
PV of Terminal Value (M)5,148.235,406.215,674.43
Equity Value (M)6,370.876,664.486,969.25
Shares Outstanding (M)46.0146.0146.01
Fair Value$138.47$144.85$151.47
Upside / Downside54.54%61.66%69.05%

High-Yield Dividend Screener

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