Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Doha Insurance Group Q.P.S.C. (DOHI.QA)

Company Dividend Discount ModelIndustry: Insurance - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$6.45 - $12.23$8.79
Multi-Stage$5.13 - $5.59$5.35
Blended Fair Value$7.07
Current Price$2.52
Upside180.59%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS16.95%5.45%0.180.150.120.100.080.080.080.060.100.10
YoY Growth--17.15%28.41%17.84%26.10%-2.14%6.67%25.00%-40.00%0.00%-2.87%
Dividend Yield--7.31%6.54%5.98%5.15%3.98%7.64%6.27%4.39%6.04%5.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)201.65
(-) Cash Dividends Paid (M)93.57
(=) Cash Retained (M)108.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)40.3325.2115.12
Cash Retained (M)108.08108.08108.08
(-) Cash Required (M)-40.33-25.21-15.12
(=) Excess Retained (M)67.7582.8792.95
(/) Shares Outstanding (M)498.78498.78498.78
(=) Excess Retained per Share0.140.170.19
LTM Dividend per Share0.190.190.19
(+) Excess Retained per Share0.140.170.19
(=) Adjusted Dividend0.320.350.37
WACC / Discount Rate10.79%10.79%10.79%
Growth Rate5.50%6.50%7.50%
Fair Value$6.45$8.79$12.23
Upside / Downside156.11%248.74%385.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)201.65214.76228.72243.59259.42276.28284.57
Payout Ratio46.40%55.12%63.84%72.56%81.28%90.00%92.50%
Projected Dividends (M)93.57118.38146.02176.75210.86248.65263.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.79%10.79%10.79%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)105.85106.86107.86
Year 2 PV (M)116.75118.97121.21
Year 3 PV (M)126.36129.98133.68
Year 4 PV (M)134.79139.97145.30
Year 5 PV (M)142.12148.99156.11
PV of Terminal Value (M)1,932.122,025.442,122.33
Equity Value (M)2,557.982,670.212,786.50
Shares Outstanding (M)498.78498.78498.78
Fair Value$5.13$5.35$5.59
Upside / Downside103.51%112.44%121.69%

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