Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Brompton Lifeco Split Corp. (LCS.TO)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$258.39 - $1,322.06$528.84
Multi-Stage$141.35 - $154.68$147.89
Blended Fair Value$338.37
Current Price$8.84
Upside3,727.70%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS26.37%8.55%0.830.930.360.500.190.260.690.610.160.62
YoY Growth---11.09%157.34%-28.24%163.42%-25.50%-62.71%11.91%286.54%-74.46%71.17%
Dividend Yield--9.67%16.57%9.29%8.34%5.81%4.70%28.67%10.00%2.69%12.24%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49.50
(-) Cash Dividends Paid (M)8.68
(=) Cash Retained (M)40.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.906.193.71
Cash Retained (M)40.8240.8240.82
(-) Cash Required (M)-9.90-6.19-3.71
(=) Excess Retained (M)30.9234.6337.11
(/) Shares Outstanding (M)7.457.457.45
(=) Excess Retained per Share4.154.654.98
LTM Dividend per Share1.171.171.17
(+) Excess Retained per Share4.154.654.98
(=) Adjusted Dividend5.325.826.15
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate5.50%6.50%7.50%
Fair Value$258.39$528.84$1,322.06
Upside / Downside2,822.97%5,882.41%14,855.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.5052.7256.1559.8063.6867.8269.86
Payout Ratio17.54%32.03%46.53%61.02%75.51%90.00%92.50%
Projected Dividends (M)8.6816.8926.1236.4948.0961.0464.62

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)15.5415.6815.83
Year 2 PV (M)22.1122.5322.96
Year 3 PV (M)28.4129.2330.06
Year 4 PV (M)34.4535.7837.14
Year 5 PV (M)40.2442.1844.20
PV of Terminal Value (M)911.85955.891,001.62
Equity Value (M)1,052.611,101.301,151.81
Shares Outstanding (M)7.457.457.45
Fair Value$141.35$147.89$154.68
Upside / Downside1,499.02%1,572.99%1,649.73%

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