Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

DSV A/S (DSV.CO)

Company Dividend Discount ModelIndustry: Integrated Freight & LogisticsSector: Industrials

Valuation Snapshot

Stable Growth$665.81 - $1,200.74$889.29
Multi-Stage$516.69 - $563.84$539.84
Blended Fair Value$714.57
Current Price$1,522.00
Upside-53.05%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS29.37%18.96%6.876.385.914.122.631.891.701.531.461.27
YoY Growth--7.65%7.88%43.48%56.46%39.01%11.32%11.11%4.59%15.55%4.81%
Dividend Yield--0.52%0.56%0.45%0.32%0.21%0.31%0.31%0.32%0.41%0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)10,160.00
(-) Cash Dividends Paid (M)1,683.00
(=) Cash Retained (M)8,477.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,032.001,270.00762.00
Cash Retained (M)8,477.008,477.008,477.00
(-) Cash Required (M)-2,032.00-1,270.00-762.00
(=) Excess Retained (M)6,445.007,207.007,715.00
(/) Shares Outstanding (M)223.26223.26223.26
(=) Excess Retained per Share28.8732.2834.56
LTM Dividend per Share7.547.547.54
(+) Excess Retained per Share28.8732.2834.56
(=) Adjusted Dividend36.4139.8242.09
WACC / Discount Rate11.27%11.27%11.27%
Growth Rate5.50%6.50%7.50%
Fair Value$665.81$889.29$1,200.74
Upside / Downside-56.25%-41.57%-21.11%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10,160.0010,820.4011,523.7312,272.7713,070.5013,920.0814,337.68
Payout Ratio16.56%31.25%45.94%60.63%75.31%90.00%92.50%
Projected Dividends (M)1,683.003,381.595,293.887,440.499,843.7812,528.0713,262.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate11.27%11.27%11.27%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)3,010.583,039.123,067.66
Year 2 PV (M)4,195.994,275.914,356.59
Year 3 PV (M)5,250.395,401.115,554.69
Year 4 PV (M)6,184.196,422.026,666.64
Year 5 PV (M)7,007.057,345.497,696.89
PV of Terminal Value (M)89,709.6694,042.6798,541.52
Equity Value (M)115,357.87120,526.33125,883.98
Shares Outstanding (M)223.26223.26223.26
Fair Value$516.69$539.84$563.84
Upside / Downside-66.05%-64.53%-62.95%

High-Yield Dividend Screener

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