Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Taurus Armas S.A. (TASA3.SA)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$23.32 - $66.78$36.49
Multi-Stage$15.57 - $17.02$16.28
Blended Fair Value$26.38
Current Price$4.81
Upside448.49%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.291.341.470.000.000.000.000.000.000.00
YoY Growth---78.31%-9.03%0.00%0.00%0.00%0.00%0.00%0.00%-100.00%0.00%
Dividend Yield--3.93%11.27%10.02%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)123.77
(-) Cash Dividends Paid (M)25.64
(=) Cash Retained (M)98.13
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)24.7515.479.28
Cash Retained (M)98.1398.1398.13
(-) Cash Required (M)-24.75-15.47-9.28
(=) Excess Retained (M)73.3782.6688.85
(/) Shares Outstanding (M)131.81131.81131.81
(=) Excess Retained per Share0.560.630.67
LTM Dividend per Share0.190.190.19
(+) Excess Retained per Share0.560.630.67
(=) Adjusted Dividend0.750.820.87
WACC / Discount Rate8.90%8.90%8.90%
Growth Rate5.50%6.50%7.50%
Fair Value$23.32$36.49$66.78
Upside / Downside384.85%658.54%1,288.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)123.77131.81140.38149.50159.22169.57174.66
Payout Ratio20.71%34.57%48.43%62.29%76.14%90.00%92.50%
Projected Dividends (M)25.6445.5767.9893.12121.24152.61161.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.90%8.90%8.90%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)41.4541.8542.24
Year 2 PV (M)56.2657.3358.41
Year 3 PV (M)70.0972.1174.16
Year 4 PV (M)83.0286.2189.49
Year 5 PV (M)95.0699.65104.42
PV of Terminal Value (M)1,706.141,788.551,874.11
Equity Value (M)2,052.022,145.692,242.83
Shares Outstanding (M)131.81131.81131.81
Fair Value$15.57$16.28$17.02
Upside / Downside223.67%238.44%253.76%

High-Yield Dividend Screener

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