Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Crescera Capital Acquisition Corp. (CREC)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$5.01 - $7.87$6.32
Multi-Stage$12.26 - $13.51$12.87
Blended Fair Value$9.60
Current Price$10.82
Upside-11.30%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20222021
DPS0.00%0.00%0.150.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.45%0.00%0.00%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)10.01
(-) Cash Dividends Paid (M)4.02
(=) Cash Retained (M)5.99
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.001.250.75
Cash Retained (M)5.995.995.99
(-) Cash Required (M)-2.00-1.25-0.75
(=) Excess Retained (M)3.994.745.24
(/) Shares Outstanding (M)19.4819.4819.48
(=) Excess Retained per Share0.200.240.27
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.200.240.27
(=) Adjusted Dividend0.410.450.48
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.01$6.32$7.87
Upside / Downside-53.68%-41.55%-27.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10.019.919.819.719.629.529.81
Payout Ratio40.15%50.12%60.09%70.06%80.03%90.00%92.50%
Projected Dividends (M)4.024.975.906.817.708.579.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4.644.684.73
Year 2 PV (M)5.145.245.35
Year 3 PV (M)5.545.715.88
Year 4 PV (M)5.856.096.34
Year 5 PV (M)6.086.396.72
PV of Terminal Value (M)211.59222.61234.08
Equity Value (M)238.82250.72263.10
Shares Outstanding (M)19.4819.4819.48
Fair Value$12.26$12.87$13.51
Upside / Downside13.31%18.95%24.83%

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