Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Deyaar Development PJSC (DEYAAR.AE)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$1.25 - $1.98$1.58
Multi-Stage$1.53 - $1.67$1.60
Blended Fair Value$1.59
Current Price$0.99
Upside60.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%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)536.33
(-) Cash Dividends Paid (M)218.79
(=) Cash Retained (M)317.53
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)107.2767.0440.22
Cash Retained (M)317.53317.53317.53
(-) Cash Required (M)-107.27-67.04-40.22
(=) Excess Retained (M)210.27250.49277.31
(/) Shares Outstanding (M)4,375.844,375.844,375.84
(=) Excess Retained per Share0.050.060.06
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.050.060.06
(=) Adjusted Dividend0.100.110.11
WACC / Discount Rate9.72%9.72%9.72%
Growth Rate1.77%2.77%3.77%
Fair Value$1.25$1.58$1.98
Upside / Downside26.72%60.10%99.60%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)536.33551.16566.40582.06598.16614.70633.14
Payout Ratio40.79%50.64%60.48%70.32%80.16%90.00%92.50%
Projected Dividends (M)218.79279.08342.54409.29479.48553.23585.65

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.72%9.72%9.72%
Growth Rate1.77%2.77%3.77%
Year 1 PV (M)251.89254.36256.84
Year 2 PV (M)279.03284.54290.11
Year 3 PV (M)300.92309.88319.01
Year 4 PV (M)318.17330.86343.93
Year 5 PV (M)331.33347.93365.20
PV of Terminal Value (M)5,220.405,481.985,753.95
Equity Value (M)6,701.737,009.557,329.02
Shares Outstanding (M)4,375.844,375.844,375.84
Fair Value$1.53$1.60$1.67
Upside / Downside54.70%61.81%69.18%

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