Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

CSX Corporation (0HRJ.L)

Company Dividend Discount ModelIndustry: General TransportationSector: Industrials

Valuation Snapshot

Stable Growth$33.83 - $87.32$51.30
Multi-Stage$50.20 - $55.15$52.63
Blended Fair Value$51.96
Current Price$35.51
Upside46.33%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.04%3.99%0.490.470.450.440.420.400.400.380.360.36
YoY Growth--5.44%3.52%1.55%5.27%4.46%1.60%6.07%4.12%-0.87%9.06%
Dividend Yield--1.67%1.27%1.51%1.19%1.31%2.12%1.56%2.02%2.32%4.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,881.00
(-) Cash Dividends Paid (M)960.00
(=) Cash Retained (M)1,921.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)576.20360.13216.08
Cash Retained (M)1,921.001,921.001,921.00
(-) Cash Required (M)-576.20-360.13-216.08
(=) Excess Retained (M)1,344.801,560.881,704.93
(/) Shares Outstanding (M)1,887.251,887.251,887.25
(=) Excess Retained per Share0.710.830.90
LTM Dividend per Share0.510.510.51
(+) Excess Retained per Share0.710.830.90
(=) Adjusted Dividend1.221.341.41
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate1.99%2.99%3.99%
Fair Value$33.83$51.30$87.32
Upside / Downside-4.73%44.46%145.89%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,881.002,967.083,055.743,147.053,241.083,337.923,438.06
Payout Ratio33.32%44.66%55.99%67.33%78.66%90.00%92.50%
Projected Dividends (M)960.001,325.021,711.002,118.872,549.573,004.133,180.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate1.99%2.99%3.99%
Year 1 PV (M)1,241.751,253.931,266.10
Year 2 PV (M)1,502.711,532.321,562.22
Year 3 PV (M)1,743.971,795.781,848.60
Year 4 PV (M)1,966.602,044.872,125.46
Year 5 PV (M)2,171.602,280.172,393.04
PV of Terminal Value (M)86,110.9690,416.1894,891.90
Equity Value (M)94,737.5999,323.25104,087.33
Shares Outstanding (M)1,887.251,887.251,887.25
Fair Value$50.20$52.63$55.15
Upside / Downside41.37%48.21%55.32%

High-Yield Dividend Screener

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