Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Avient Corporation (AVNT)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$46.25 - $245.39$91.88
Multi-Stage$27.39 - $29.87$28.61
Blended Fair Value$60.24
Current Price$32.95
Upside82.84%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.29%12.14%1.020.980.950.850.780.660.610.480.440.39
YoY Growth--4.21%3.92%11.71%8.98%18.24%7.49%27.21%9.70%12.61%19.40%
Dividend Yield--2.75%2.29%2.30%1.76%1.64%3.46%2.05%1.13%1.28%1.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)113.30
(-) Cash Dividends Paid (M)97.60
(=) Cash Retained (M)15.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.6614.168.50
Cash Retained (M)15.7015.7015.70
(-) Cash Required (M)-22.66-14.16-8.50
(=) Excess Retained (M)-6.961.547.20
(/) Shares Outstanding (M)91.8391.8391.83
(=) Excess Retained per Share-0.080.020.08
LTM Dividend per Share1.061.061.06
(+) Excess Retained per Share-0.080.020.08
(=) Adjusted Dividend0.991.081.14
WACC / Discount Rate7.75%7.75%7.75%
Growth Rate5.50%6.50%7.50%
Fair Value$46.25$91.88$245.39
Upside / Downside40.38%178.85%644.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)113.30120.66128.51136.86145.76155.23159.89
Payout Ratio86.14%86.91%87.69%88.46%89.23%90.00%92.50%
Projected Dividends (M)97.60104.87112.68121.06130.06139.71147.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.75%7.75%7.75%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)96.4297.3398.24
Year 2 PV (M)95.2497.0598.88
Year 3 PV (M)94.0796.7799.52
Year 4 PV (M)92.9196.48100.16
Year 5 PV (M)91.7596.18100.79
PV of Terminal Value (M)2,044.252,142.992,245.51
Equity Value (M)2,514.642,626.812,743.10
Shares Outstanding (M)91.8391.8391.83
Fair Value$27.39$28.61$29.87
Upside / Downside-16.89%-13.18%-9.34%

High-Yield Dividend Screener

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