Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

River Tech p.l.c. (RIVER.OL)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$5.59 - $8.39$6.92
Multi-Stage$11.24 - $12.34$11.78
Blended Fair Value$9.35
Current Price$1.30
Upside619.06%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%0.430.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--27.28%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)13.76
(-) Cash Dividends Paid (M)8.86
(=) Cash Retained (M)4.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.751.721.03
Cash Retained (M)4.904.904.90
(-) Cash Required (M)-2.75-1.72-1.03
(=) Excess Retained (M)2.153.183.87
(/) Shares Outstanding (M)20.5520.5520.55
(=) Excess Retained per Share0.100.150.19
LTM Dividend per Share0.430.430.43
(+) Excess Retained per Share0.100.150.19
(=) Adjusted Dividend0.540.590.62
WACC / Discount Rate7.38%7.38%7.38%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.59$6.92$8.39
Upside / Downside330.32%432.18%545.24%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)13.7613.6213.4913.3513.2213.0913.48
Payout Ratio64.39%69.51%74.63%79.75%84.88%90.00%92.50%
Projected Dividends (M)8.869.4710.0610.6511.2211.7812.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.38%7.38%7.38%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)8.738.828.91
Year 2 PV (M)8.558.738.91
Year 3 PV (M)8.348.608.86
Year 4 PV (M)8.108.448.78
Year 5 PV (M)7.848.258.67
PV of Terminal Value (M)189.36199.22209.49
Equity Value (M)230.92242.05253.62
Shares Outstanding (M)20.5520.5520.55
Fair Value$11.24$11.78$12.34
Upside / Downside764.30%805.94%849.24%

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