Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

MAHLE Metal Leve S.A. (LEVE3.SA)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$722.46 - $851.26$797.72
Multi-Stage$508.52 - $558.29$532.94
Blended Fair Value$665.33
Current Price$27.31
Upside2,336.21%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.88%2.26%2.356.892.810.620.112.041.700.550.641.60
YoY Growth---65.91%144.80%357.46%474.60%-94.75%20.12%206.17%-13.17%-60.04%-14.99%
Dividend Yield--8.27%20.31%9.36%2.43%0.47%11.79%7.06%2.29%2.98%6.88%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)583.27
(-) Cash Dividends Paid (M)247.45
(=) Cash Retained (M)335.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)116.6572.9143.75
Cash Retained (M)335.82335.82335.82
(-) Cash Required (M)-116.65-72.91-43.75
(=) Excess Retained (M)219.17262.92292.08
(/) Shares Outstanding (M)135.54135.54135.54
(=) Excess Retained per Share1.621.942.15
LTM Dividend per Share1.831.831.83
(+) Excess Retained per Share1.621.942.15
(=) Adjusted Dividend3.443.773.98
WACC / Discount Rate1.20%1.20%1.20%
Growth Rate4.93%5.93%6.93%
Fair Value$722.46$797.72$851.26
Upside / Downside2,545.40%2,820.98%3,017.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)583.27617.84654.46693.25734.33777.85801.19
Payout Ratio42.42%51.94%61.45%70.97%80.48%90.00%92.50%
Projected Dividends (M)247.45320.90402.19491.99591.03700.07741.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.20%1.20%1.20%
Growth Rate4.93%5.93%6.93%
Year 1 PV (M)314.11317.10320.10
Year 2 PV (M)385.35392.73400.18
Year 3 PV (M)461.41474.73488.30
Year 4 PV (M)542.55563.53585.12
Year 5 PV (M)629.05659.60691.33
PV of Terminal Value (M)66,592.0769,826.4073,185.20
Equity Value (M)68,924.5472,234.1075,670.22
Shares Outstanding (M)135.54135.54135.54
Fair Value$508.52$532.94$558.29
Upside / Downside1,762.04%1,851.44%1,944.27%

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