Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Plato Income Maximiser Limited (PL8.AX)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$1.83 - $2.79$2.28
Multi-Stage$3.89 - $4.28$4.08
Blended Fair Value$3.18
Current Price$1.39
Upside128.81%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202520242023202220212020201920182016
DPS0.00%0.00%0.000.060.050.050.030.030.040.020.000.00
YoY Growth---100.00%16.73%17.51%63.77%-11.00%-13.52%114.55%0.00%0.00%0.00%
Dividend Yield--0.00%5.30%4.32%3.99%2.25%3.24%3.31%1.71%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)149.52
(-) Cash Dividends Paid (M)70.58
(=) Cash Retained (M)78.94
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)29.9018.6911.21
Cash Retained (M)78.9478.9478.94
(-) Cash Required (M)-29.90-18.69-11.21
(=) Excess Retained (M)49.0360.2567.72
(/) Shares Outstanding (M)720.65720.65720.65
(=) Excess Retained per Share0.070.080.09
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.070.080.09
(=) Adjusted Dividend0.170.180.19
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.83$2.28$2.79
Upside / Downside31.92%64.28%100.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)149.52148.02146.54145.08143.63142.19146.46
Payout Ratio47.21%55.76%64.32%72.88%81.44%90.00%92.50%
Projected Dividends (M)70.5882.5494.26105.74116.97127.97135.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.87%6.87%6.87%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)76.4677.2478.02
Year 2 PV (M)80.8782.5384.21
Year 3 PV (M)84.0386.6389.28
Year 4 PV (M)86.1089.6793.35
Year 5 PV (M)87.2591.7996.53
PV of Terminal Value (M)2,386.232,510.492,639.87
Equity Value (M)2,800.942,938.353,081.24
Shares Outstanding (M)720.65720.65720.65
Fair Value$3.89$4.08$4.28
Upside / Downside179.62%193.34%207.60%

High-Yield Dividend Screener

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