Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Bullpen Parlay Acquisition Company (BPAC)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$5.70 - $8.95$7.19
Multi-Stage$13.89 - $15.30$14.58
Blended Fair Value$10.89
Current Price$10.42
Upside4.49%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20222021
DPS0.00%0.00%92.670.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--889.38%0.00%0.00%0.00%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)15.98
(-) Cash Dividends Paid (M)5.77
(=) Cash Retained (M)10.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.202.001.20
Cash Retained (M)10.2110.2110.21
(-) Cash Required (M)-3.20-2.00-1.20
(=) Excess Retained (M)7.028.219.01
(/) Shares Outstanding (M)27.3127.3127.31
(=) Excess Retained per Share0.260.300.33
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.260.300.33
(=) Adjusted Dividend0.470.510.54
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.70$7.19$8.95
Upside / Downside-45.28%-30.96%-14.08%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)15.9815.8215.6615.5015.3515.2015.65
Payout Ratio36.09%46.87%57.66%68.44%79.22%90.00%92.50%
Projected Dividends (M)5.777.429.0310.6112.1613.6814.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.04%6.04%6.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)6.926.997.06
Year 2 PV (M)7.878.038.19
Year 3 PV (M)8.638.909.17
Year 4 PV (M)9.239.6210.01
Year 5 PV (M)9.6910.2010.72
PV of Terminal Value (M)337.01354.56372.83
Equity Value (M)379.36398.29417.99
Shares Outstanding (M)27.3127.3127.31
Fair Value$13.89$14.58$15.30
Upside / Downside33.30%39.95%46.87%

High-Yield Dividend Screener

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