Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

AS MADARA Cosmetics (MDARA.RG)

Company Dividend Discount ModelIndustry: Household & Personal ProductsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$50.15 - $201.94$85.67
Multi-Stage$32.20 - $35.15$33.65
Blended Fair Value$59.66
Current Price$13.50
Upside341.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS37.27%0.00%0.580.350.500.400.150.120.090.050.030.01
YoY Growth--65.79%-29.92%25.04%168.38%25.00%33.33%68.54%66.67%164.08%0.00%
Dividend Yield--5.32%2.33%3.06%1.45%0.75%1.51%1.12%0.71%0.44%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)6.35
(-) Cash Dividends Paid (M)3.51
(=) Cash Retained (M)2.84
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.270.790.48
Cash Retained (M)2.842.842.84
(-) Cash Required (M)-1.27-0.79-0.48
(=) Excess Retained (M)1.572.042.36
(/) Shares Outstanding (M)3.783.783.78
(=) Excess Retained per Share0.410.540.62
LTM Dividend per Share0.930.930.93
(+) Excess Retained per Share0.410.540.62
(=) Adjusted Dividend1.341.471.55
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Fair Value$50.15$85.67$201.94
Upside / Downside271.46%534.61%1,395.82%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)6.356.767.207.678.178.708.96
Payout Ratio55.30%62.24%69.18%76.12%83.06%90.00%92.50%
Projected Dividends (M)3.514.214.985.846.787.838.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)3.853.893.92
Year 2 PV (M)4.174.254.33
Year 3 PV (M)4.464.594.72
Year 4 PV (M)4.744.935.11
Year 5 PV (M)5.015.255.50
PV of Terminal Value (M)99.50104.30109.29
Equity Value (M)121.73127.20132.88
Shares Outstanding (M)3.783.783.78
Fair Value$32.20$33.65$35.15
Upside / Downside138.54%149.27%160.39%

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