Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Tubacex, S.A. (0KD1.L)

Company Dividend Discount ModelIndustry: Industrial MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$28.57 - $63.50$59.51
Multi-Stage$9.91 - $10.83$10.36
Blended Fair Value$34.93
Current Price$4.22
Upside727.84%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS19.30%17.04%0.120.070.000.000.000.050.000.000.030.08
YoY Growth--79.15%0.00%0.00%0.00%-100.00%0.00%0.00%-100.00%-64.59%216.17%
Dividend Yield--3.01%1.96%0.00%0.00%0.00%3.74%0.00%0.00%0.92%3.66%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)39.66
(-) Cash Dividends Paid (M)39.50
(=) Cash Retained (M)0.16
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.934.962.97
Cash Retained (M)0.160.160.16
(-) Cash Required (M)-7.93-4.96-2.97
(=) Excess Retained (M)-7.77-4.80-2.82
(/) Shares Outstanding (M)124.20124.20124.20
(=) Excess Retained per Share-0.06-0.04-0.02
LTM Dividend per Share0.320.320.32
(+) Excess Retained per Share-0.06-0.04-0.02
(=) Adjusted Dividend0.260.280.30
WACC / Discount Rate6.44%6.44%6.44%
Growth Rate5.50%6.50%7.50%
Fair Value$28.57$59.51$63.50
Upside / Downside576.99%1,310.20%1,404.78%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)39.6642.2444.9847.9051.0254.3355.96
Payout Ratio99.60%97.68%95.76%93.84%91.92%90.00%92.50%
Projected Dividends (M)39.5041.2643.0744.9546.9048.9051.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.44%6.44%6.44%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)38.4038.7639.12
Year 2 PV (M)37.3138.0238.73
Year 3 PV (M)36.2337.2738.33
Year 4 PV (M)35.1836.5337.92
Year 5 PV (M)34.1435.7937.50
PV of Terminal Value (M)1,049.561,100.251,152.88
Equity Value (M)1,230.811,286.621,344.50
Shares Outstanding (M)124.20124.20124.20
Fair Value$9.91$10.36$10.83
Upside / Downside134.83%145.48%156.52%

High-Yield Dividend Screener

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