Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

MAHLE Metal Leve S.A. (LEVE3.SA)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$722.46 - $851.26$797.72
Multi-Stage$505.11 - $554.54$529.36
Blended Fair Value$663.54
Current Price$27.31
Upside2,329.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.88%2.26%2.356.892.810.620.112.041.700.550.641.60
YoY Growth---65.91%144.80%357.46%474.60%-94.75%20.12%206.17%-13.17%-60.04%-14.99%
Dividend Yield--8.27%20.31%9.36%2.43%0.47%11.79%7.06%2.29%2.98%6.88%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)583.27
(-) Cash Dividends Paid (M)247.45
(=) Cash Retained (M)335.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)116.6572.9143.75
Cash Retained (M)335.82335.82335.82
(-) Cash Required (M)-116.65-72.91-43.75
(=) Excess Retained (M)219.17262.92292.08
(/) Shares Outstanding (M)135.54135.54135.54
(=) Excess Retained per Share1.621.942.15
LTM Dividend per Share1.831.831.83
(+) Excess Retained per Share1.621.942.15
(=) Adjusted Dividend3.443.773.98
WACC / Discount Rate1.34%1.34%1.34%
Growth Rate4.93%5.93%6.93%
Fair Value$722.46$797.72$851.26
Upside / Downside2,545.40%2,820.98%3,017.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)583.27617.84654.46693.25734.33777.85801.19
Payout Ratio42.42%51.94%61.45%70.97%80.48%90.00%92.50%
Projected Dividends (M)247.45320.90402.19491.99591.03700.07741.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.34%1.34%1.34%
Growth Rate4.93%5.93%6.93%
Year 1 PV (M)313.68316.67319.66
Year 2 PV (M)384.30391.66399.09
Year 3 PV (M)459.53472.79486.31
Year 4 PV (M)539.60560.47581.94
Year 5 PV (M)624.78655.12686.64
PV of Terminal Value (M)66,139.7269,352.0872,688.07
Equity Value (M)68,461.6171,748.8075,161.70
Shares Outstanding (M)135.54135.54135.54
Fair Value$505.11$529.36$554.54
Upside / Downside1,749.53%1,838.33%1,930.54%

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