Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Verallia S.A. (VRLA.PA)

Company Dividend Discount ModelIndustry: Packaging & ContainersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$33.12 - $49.80$41.01
Multi-Stage$69.48 - $76.19$72.77
Blended Fair Value$56.89
Current Price$28.20
Upside101.75%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS0.00%0.00%2.141.391.040.970.110.000.000.000.740.00
YoY Growth--53.79%33.50%7.44%771.76%0.00%0.00%0.00%-100.00%0.00%0.00%
Dividend Yield--8.81%3.99%3.29%3.13%0.38%0.00%0.00%0.00%2.62%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)462.50
(-) Cash Dividends Paid (M)452.30
(=) Cash Retained (M)10.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)92.5057.8134.69
Cash Retained (M)10.2010.2010.20
(-) Cash Required (M)-92.50-57.81-34.69
(=) Excess Retained (M)-82.30-47.61-24.49
(/) Shares Outstanding (M)117.80117.80117.80
(=) Excess Retained per Share-0.70-0.40-0.21
LTM Dividend per Share3.843.843.84
(+) Excess Retained per Share-0.70-0.40-0.21
(=) Adjusted Dividend3.143.443.63
WACC / Discount Rate7.29%7.29%7.29%
Growth Rate-2.00%-1.00%0.00%
Fair Value$33.12$41.01$49.80
Upside / Downside17.46%45.43%76.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)462.50457.88453.30448.76444.28439.83453.03
Payout Ratio97.79%96.24%94.68%93.12%91.56%90.00%92.50%
Projected Dividends (M)452.30440.64429.17417.88406.77395.85419.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.29%7.29%7.29%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)406.54410.69414.84
Year 2 PV (M)365.31372.81380.38
Year 3 PV (M)328.18338.33348.68
Year 4 PV (M)294.74306.95319.54
Year 5 PV (M)264.62278.40292.75
PV of Terminal Value (M)6,525.626,865.427,219.24
Equity Value (M)8,185.018,572.608,975.43
Shares Outstanding (M)117.80117.80117.80
Fair Value$69.48$72.77$76.19
Upside / Downside146.40%158.06%170.19%

High-Yield Dividend Screener

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