Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Marble Point Loan Financing Limited (MPLF.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$0.85 - $1.36$1.08
Multi-Stage$2.43 - $2.68$2.55
Blended Fair Value$1.82
Current Price$61.00
Upside-97.02%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017
DPS1.48%0.00%0.070.090.080.070.080.060.010.000.000.00
YoY Growth---24.93%6.97%25.07%-18.75%31.89%323.47%0.00%0.00%0.00%0.00%
Dividend Yield--0.11%0.16%0.12%0.10%0.10%0.08%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)16.32
(-) Cash Dividends Paid (M)15.18
(=) Cash Retained (M)1.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.262.041.22
Cash Retained (M)1.151.151.15
(-) Cash Required (M)-3.26-2.04-1.22
(=) Excess Retained (M)-2.12-0.89-0.08
(/) Shares Outstanding (M)202.04202.04202.04
(=) Excess Retained per Share-0.010.000.00
LTM Dividend per Share0.080.080.08
(+) Excess Retained per Share-0.010.000.00
(=) Adjusted Dividend0.060.070.07
WACC / Discount Rate5.49%5.49%5.49%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.85$1.08$1.36
Upside / Downside-98.61%-98.23%-97.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)16.3216.1616.0015.8415.6815.5215.99
Payout Ratio92.98%92.39%91.79%91.19%90.60%90.00%92.50%
Projected Dividends (M)15.1814.9314.6814.4414.2013.9714.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.49%5.49%5.49%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)14.0114.1514.29
Year 2 PV (M)12.9313.1913.46
Year 3 PV (M)11.9312.3012.68
Year 4 PV (M)11.0111.4711.94
Year 5 PV (M)10.1610.6911.24
PV of Terminal Value (M)431.58454.05477.45
Equity Value (M)491.62515.86541.07
Shares Outstanding (M)202.04202.04202.04
Fair Value$2.43$2.55$2.68
Upside / Downside-96.01%-95.81%-95.61%

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