Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Academy Of Learning Company (9541.SR)

Company Dividend Discount ModelIndustry: Education & Training ServicesSector: Consumer Defensive

Valuation Snapshot

Stable Growth$4.79 - $7.27$5.96
Multi-Stage$10.27 - $11.28$10.77
Blended Fair Value$8.36
Current Price$9.50
Upside-11.99%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021
DPS0.00%0.00%0.100.230.100.040.000.000.000.000.000.00
YoY Growth---57.14%133.33%172.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.10%3.66%3.62%1.05%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49.80
(-) Cash Dividends Paid (M)39.00
(=) Cash Retained (M)10.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.966.223.73
Cash Retained (M)10.8010.8010.80
(-) Cash Required (M)-9.96-6.22-3.73
(=) Excess Retained (M)0.844.577.06
(/) Shares Outstanding (M)90.6990.6990.69
(=) Excess Retained per Share0.010.050.08
LTM Dividend per Share0.430.430.43
(+) Excess Retained per Share0.010.050.08
(=) Adjusted Dividend0.440.480.51
WACC / Discount Rate6.99%6.99%6.99%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.79$5.96$7.27
Upside / Downside-49.57%-37.30%-23.46%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.8049.3048.8048.3247.8347.3548.78
Payout Ratio78.32%80.66%82.99%85.33%87.66%90.00%92.50%
Projected Dividends (M)39.0039.7640.5041.2341.9342.6245.12

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.99%6.99%6.99%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)36.7937.1737.54
Year 2 PV (M)34.6835.3936.11
Year 3 PV (M)32.6633.6734.70
Year 4 PV (M)30.7332.0133.32
Year 5 PV (M)28.9030.4131.97
PV of Terminal Value (M)767.70807.68849.30
Equity Value (M)931.46976.321,022.94
Shares Outstanding (M)90.6990.6990.69
Fair Value$10.27$10.77$11.28
Upside / Downside8.12%13.32%18.74%

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