Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Investis Holding S.A. (0RHV.L)

Company Dividend Discount ModelIndustry: Real Estate - GeneralSector: Real Estate

Valuation Snapshot

Stable Growth$434.98 - $838.85$596.30
Multi-Stage$447.90 - $490.65$468.88
Blended Fair Value$532.59
Current Price$127.00
Upside319.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.33%18.12%2.502.502.502.502.342.342.362.361.960.40
YoY Growth--0.16%-0.10%0.11%6.54%0.10%-0.60%-0.06%20.32%390.20%-15.53%
Dividend Yield--2.23%2.56%2.46%2.39%2.56%2.88%3.82%3.76%3.44%0.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)345.74
(-) Cash Dividends Paid (M)65.09
(=) Cash Retained (M)280.65
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)69.1543.2225.93
Cash Retained (M)280.65280.65280.65
(-) Cash Required (M)-69.15-43.22-25.93
(=) Excess Retained (M)211.50237.44254.72
(/) Shares Outstanding (M)12.7612.7612.76
(=) Excess Retained per Share16.5818.6119.96
LTM Dividend per Share5.105.105.10
(+) Excess Retained per Share16.5818.6119.96
(=) Adjusted Dividend21.6823.7125.06
WACC / Discount Rate8.37%8.37%8.37%
Growth Rate3.22%4.22%5.22%
Fair Value$434.98$596.30$838.85
Upside / Downside242.51%369.52%560.51%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)345.74360.34375.55391.40407.92425.14437.90
Payout Ratio18.83%33.06%47.30%61.53%75.77%90.00%92.50%
Projected Dividends (M)65.09119.13177.62240.83309.06382.63405.06

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.37%8.37%8.37%
Growth Rate3.22%4.22%5.22%
Year 1 PV (M)108.88109.93110.99
Year 2 PV (M)148.37151.25154.17
Year 3 PV (M)183.86189.25194.75
Year 4 PV (M)215.65224.13232.85
Year 5 PV (M)244.00256.05268.58
PV of Terminal Value (M)4,814.485,052.265,299.33
Equity Value (M)5,715.235,982.886,260.67
Shares Outstanding (M)12.7612.7612.76
Fair Value$447.90$468.88$490.65
Upside / Downside252.68%269.20%286.34%

High-Yield Dividend Screener

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