Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wendel (MF.PA)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$163.06 - $427.78$248.51
Multi-Stage$271.34 - $297.88$284.36
Blended Fair Value$266.44
Current Price$89.60
Upside197.36%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.79%7.12%3.733.022.832.752.662.692.622.332.152.01
YoY Growth--23.51%6.92%2.76%3.26%-0.89%2.57%12.40%8.71%6.59%7.18%
Dividend Yield--4.02%3.75%3.24%2.61%2.72%2.27%2.50%1.64%1.88%1.84%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)334.75
(-) Cash Dividends Paid (M)271.60
(=) Cash Retained (M)63.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)66.9541.8425.11
Cash Retained (M)63.1563.1563.15
(-) Cash Required (M)-66.95-41.84-25.11
(=) Excess Retained (M)-3.8021.3138.04
(/) Shares Outstanding (M)46.0146.0146.01
(=) Excess Retained per Share-0.080.460.83
LTM Dividend per Share5.905.905.90
(+) Excess Retained per Share-0.080.460.83
(=) Adjusted Dividend5.826.376.73
WACC / Discount Rate5.39%5.39%5.39%
Growth Rate1.76%2.76%3.76%
Fair Value$163.06$248.51$427.78
Upside / Downside81.99%177.36%377.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)334.75343.99353.49363.25373.28383.58395.09
Payout Ratio81.14%82.91%84.68%86.45%88.23%90.00%92.50%
Projected Dividends (M)271.60285.20299.34314.04329.33345.23365.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.39%5.39%5.39%
Growth Rate1.76%2.76%3.76%
Year 1 PV (M)267.97270.60273.24
Year 2 PV (M)264.27269.49274.76
Year 3 PV (M)260.50268.26276.16
Year 4 PV (M)256.68266.92277.46
Year 5 PV (M)252.82265.48278.65
PV of Terminal Value (M)11,182.3911,742.7312,325.33
Equity Value (M)12,484.6213,083.4913,705.60
Shares Outstanding (M)46.0146.0146.01
Fair Value$271.34$284.36$297.88
Upside / Downside202.84%217.37%232.46%

High-Yield Dividend Screener

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