Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Aecom (0H9N.L)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$42.01 - $66.49$53.19
Multi-Stage$105.74 - $116.59$111.06
Blended Fair Value$82.12
Current Price$130.47
Upside-37.05%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%1.000.860.720.470.000.000.000.000.000.00
YoY Growth--15.90%19.81%51.99%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.77%0.81%0.78%0.56%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)561.77
(-) Cash Dividends Paid (M)133.57
(=) Cash Retained (M)428.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)112.3570.2242.13
Cash Retained (M)428.20428.20428.20
(-) Cash Required (M)-112.35-70.22-42.13
(=) Excess Retained (M)315.85357.98386.07
(/) Shares Outstanding (M)133.37133.37133.37
(=) Excess Retained per Share2.372.682.89
LTM Dividend per Share1.001.001.00
(+) Excess Retained per Share2.372.682.89
(=) Adjusted Dividend3.373.693.90
WACC / Discount Rate5.86%5.86%5.86%
Growth Rate-2.00%-1.00%0.00%
Fair Value$42.01$53.19$66.49
Upside / Downside-67.80%-59.23%-49.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)561.77556.16550.59545.09539.64534.24550.27
Payout Ratio23.78%37.02%50.27%63.51%76.76%90.00%92.50%
Projected Dividends (M)133.57205.90276.76346.19414.20480.82509.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.86%5.86%5.86%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)192.53194.50196.46
Year 2 PV (M)242.01246.97251.98
Year 3 PV (M)283.07291.82300.76
Year 4 PV (M)316.70329.83343.36
Year 5 PV (M)343.78361.68380.32
PV of Terminal Value (M)12,724.8313,387.4414,077.37
Equity Value (M)14,102.9114,812.2315,550.24
Shares Outstanding (M)133.37133.37133.37
Fair Value$105.74$111.06$116.59
Upside / Downside-18.95%-14.88%-10.64%

High-Yield Dividend Screener

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