Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Flughafen Wien AG (0RHU.L)

Company Dividend Discount ModelIndustry: General TransportationSector: Industrials

Valuation Snapshot

Stable Growth$61.16 - $163.88$93.82
Multi-Stage$64.78 - $70.93$67.80
Blended Fair Value$80.81
Current Price$53.40
Upside51.33%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.17%15.03%1.320.770.000.000.000.890.680.630.500.41
YoY Growth--71.43%0.00%0.00%0.00%-100.00%30.88%8.80%25.00%21.21%26.92%
Dividend Yield--2.44%1.52%0.00%0.00%0.00%3.79%1.80%1.88%1.69%1.72%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)221.75
(-) Cash Dividends Paid (M)138.39
(=) Cash Retained (M)83.35
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)44.3527.7216.63
Cash Retained (M)83.3583.3583.35
(-) Cash Required (M)-44.35-27.72-16.63
(=) Excess Retained (M)39.0055.6366.72
(/) Shares Outstanding (M)83.8783.8783.87
(=) Excess Retained per Share0.470.660.80
LTM Dividend per Share1.651.651.65
(+) Excess Retained per Share0.470.660.80
(=) Adjusted Dividend2.122.312.45
WACC / Discount Rate6.84%6.84%6.84%
Growth Rate3.27%4.27%5.27%
Fair Value$61.16$93.82$163.88
Upside / Downside14.54%75.69%206.89%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)221.75231.20241.07251.35262.07273.25281.45
Payout Ratio62.41%67.93%73.45%78.96%84.48%90.00%92.50%
Projected Dividends (M)138.39157.05177.06198.48221.40245.93260.34

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.84%6.84%6.84%
Growth Rate3.27%4.27%5.27%
Year 1 PV (M)145.59147.00148.41
Year 2 PV (M)152.16155.12158.11
Year 3 PV (M)158.12162.76167.49
Year 4 PV (M)163.52169.94176.56
Year 5 PV (M)168.38176.69185.32
PV of Terminal Value (M)4,645.894,875.245,113.55
Equity Value (M)5,433.665,686.755,949.45
Shares Outstanding (M)83.8783.8783.87
Fair Value$64.78$67.80$70.93
Upside / Downside21.32%26.97%32.83%

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