Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Djerriwarrh Investments Limited (DJW.AX)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$2.26 - $3.32$2.77
Multi-Stage$4.62 - $5.07$4.84
Blended Fair Value$3.81
Current Price$3.03
Upside25.66%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-0.57%-4.55%0.140.130.120.100.080.140.150.150.190.22
YoY Growth--2.43%11.28%20.45%23.50%-42.67%-5.28%0.55%-22.55%-12.43%0.00%
Dividend Yield--4.48%4.46%4.19%3.46%2.61%5.48%4.24%4.34%5.14%5.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)78.14
(-) Cash Dividends Paid (M)61.54
(=) Cash Retained (M)16.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.639.775.86
Cash Retained (M)16.5916.5916.59
(-) Cash Required (M)-15.63-9.77-5.86
(=) Excess Retained (M)0.976.8310.73
(/) Shares Outstanding (M)262.92262.92262.92
(=) Excess Retained per Share0.000.030.04
LTM Dividend per Share0.230.230.23
(+) Excess Retained per Share0.000.030.04
(=) Adjusted Dividend0.240.260.27
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate-2.57%-1.57%-0.57%
Fair Value$2.26$2.77$3.32
Upside / Downside-25.33%-8.56%9.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)78.1476.9175.7174.5273.3572.2074.37
Payout Ratio78.76%81.01%83.26%85.51%87.75%90.00%92.50%
Projected Dividends (M)61.5462.3163.0363.7264.3764.9868.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate-2.57%-1.57%-0.57%
Year 1 PV (M)57.2857.8758.45
Year 2 PV (M)53.2754.3755.48
Year 3 PV (M)49.5151.0552.62
Year 4 PV (M)45.9847.8949.87
Year 5 PV (M)42.6744.9047.23
PV of Terminal Value (M)966.941,017.591,070.35
Equity Value (M)1,215.641,273.671,334.00
Shares Outstanding (M)262.92262.92262.92
Fair Value$4.62$4.84$5.07
Upside / Downside52.60%59.88%67.45%

High-Yield Dividend Screener

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