Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

The St. Joe Company (JOE)

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

Valuation Snapshot

Stable Growth$15.31 - $23.07$18.97
Multi-Stage$30.19 - $33.23$31.68
Blended Fair Value$25.33
Current Price$49.48
Upside-48.81%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.520.440.400.320.070.000.000.000.000.00
YoY Growth--18.25%9.22%24.69%357.16%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.11%0.77%0.97%0.55%0.17%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)104.61
(-) Cash Dividends Paid (M)25.15
(=) Cash Retained (M)79.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)20.9213.087.85
Cash Retained (M)79.4679.4679.46
(-) Cash Required (M)-20.92-13.08-7.85
(=) Excess Retained (M)58.5466.3871.61
(/) Shares Outstanding (M)58.1358.1358.13
(=) Excess Retained per Share1.011.141.23
LTM Dividend per Share0.430.430.43
(+) Excess Retained per Share1.011.141.23
(=) Adjusted Dividend1.441.571.66
WACC / Discount Rate7.22%7.22%7.22%
Growth Rate-2.00%-1.00%0.00%
Fair Value$15.31$18.97$23.07
Upside / Downside-69.06%-61.66%-53.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)104.61103.57102.53101.50100.4999.48102.47
Payout Ratio24.05%37.24%50.43%63.62%76.81%90.00%92.50%
Projected Dividends (M)25.1538.5651.7064.5877.1989.5494.78

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.22%7.22%7.22%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)35.6035.9736.33
Year 2 PV (M)44.0744.9845.89
Year 3 PV (M)50.8252.3954.00
Year 4 PV (M)56.0958.4160.81
Year 5 PV (M)60.0763.2066.45
PV of Terminal Value (M)1,508.191,586.721,668.50
Equity Value (M)1,754.841,841.671,931.98
Shares Outstanding (M)58.1358.1358.13
Fair Value$30.19$31.68$33.23
Upside / Downside-38.99%-35.97%-32.83%

High-Yield Dividend Screener

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