Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PWO AG (PWO.DE)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$582.03 - $686.18$642.84
Multi-Stage$390.17 - $429.49$409.45
Blended Fair Value$526.15
Current Price$28.80
Upside1,726.90%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.33%-0.28%1.751.651.500.000.001.351.651.601.551.45
YoY Growth--6.07%9.98%0.00%0.00%-100.00%-18.17%3.12%3.22%6.91%-19.45%
Dividend Yield--6.06%5.31%4.83%0.00%0.00%8.47%5.94%3.72%3.55%3.92%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)11.19
(-) Cash Dividends Paid (M)5.47
(=) Cash Retained (M)5.72
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.241.400.84
Cash Retained (M)5.725.725.72
(-) Cash Required (M)-2.24-1.40-0.84
(=) Excess Retained (M)3.484.324.88
(/) Shares Outstanding (M)3.133.133.13
(=) Excess Retained per Share1.111.381.56
LTM Dividend per Share1.751.751.75
(+) Excess Retained per Share1.111.381.56
(=) Adjusted Dividend2.863.123.30
WACC / Discount Rate-0.14%-0.14%-0.14%
Growth Rate1.89%2.89%3.89%
Fair Value$582.03$642.84$686.18
Upside / Downside1,920.94%2,132.10%2,282.58%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)11.1911.5111.8412.1912.5412.9013.29
Payout Ratio48.89%57.11%65.33%73.55%81.78%90.00%92.50%
Projected Dividends (M)5.476.577.748.9610.2511.6112.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-0.14%-0.14%-0.14%
Growth Rate1.89%2.89%3.89%
Year 1 PV (M)6.526.586.65
Year 2 PV (M)7.617.767.91
Year 3 PV (M)8.749.009.27
Year 4 PV (M)9.9210.3110.72
Year 5 PV (M)11.1311.6912.27
PV of Terminal Value (M)1,178.681,237.671,298.99
Equity Value (M)1,222.601,283.011,345.80
Shares Outstanding (M)3.133.133.13
Fair Value$390.17$409.45$429.49
Upside / Downside1,254.75%1,321.70%1,391.27%

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