Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Spinneys 1961 Hold (SPINNEYS.AE)

Company Dividend Discount ModelIndustry: Grocery StoresSector: Consumer Defensive

Valuation Snapshot

Stable Growth$0.96 - $1.56$1.23
Multi-Stage$2.77 - $3.05$2.91
Blended Fair Value$2.07
Current Price$1.54
Upside34.36%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.030.050.060.050.000.000.000.000.000.00
YoY Growth---48.09%-9.64%10.92%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.85%3.43%3.80%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)329.61
(-) Cash Dividends Paid (M)220.32
(=) Cash Retained (M)109.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)65.9241.2024.72
Cash Retained (M)109.29109.29109.29
(-) Cash Required (M)-65.92-41.20-24.72
(=) Excess Retained (M)43.3668.0984.57
(/) Shares Outstanding (M)3,599.533,599.533,599.53
(=) Excess Retained per Share0.010.020.02
LTM Dividend per Share0.060.060.06
(+) Excess Retained per Share0.010.020.02
(=) Adjusted Dividend0.070.080.08
WACC / Discount Rate5.45%5.45%5.45%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.96$1.23$1.56
Upside / Downside-37.39%-20.09%1.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)329.61326.31323.05319.82316.62313.45322.86
Payout Ratio66.84%71.47%76.11%80.74%85.37%90.00%92.50%
Projected Dividends (M)220.32233.23245.86258.21270.29282.11298.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.45%5.45%5.45%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)218.95221.18223.42
Year 2 PV (M)216.68221.12225.61
Year 3 PV (M)213.63220.24226.98
Year 4 PV (M)209.94218.64227.61
Year 5 PV (M)205.70216.41227.56
PV of Terminal Value (M)8,904.879,368.579,851.38
Equity Value (M)9,969.7610,466.1610,982.56
Shares Outstanding (M)3,599.533,599.533,599.53
Fair Value$2.77$2.91$3.05
Upside / Downside79.85%88.81%98.12%

High-Yield Dividend Screener

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