Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Blue Square Real Estate Ltd (BLSR.TA)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$11,916.85 - $14,040.06$13,157.60
Multi-Stage$3,282.12 - $3,596.24$3,436.27
Blended Fair Value$8,296.93
Current Price$361.80
Upside2,193.24%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS32.51%22.48%31.158.206.5616.394.927.625.338.942.464.92
YoY Growth--280.00%25.00%-60.00%233.33%-35.48%43.08%-40.37%263.33%-50.00%20.00%
Dividend Yield--10.54%3.27%3.36%5.99%2.12%5.40%3.73%6.80%1.45%4.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)861.22
(-) Cash Dividends Paid (M)390.00
(=) Cash Retained (M)471.22
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)172.24107.6564.59
Cash Retained (M)471.22471.22471.22
(-) Cash Required (M)-172.24-107.65-64.59
(=) Excess Retained (M)298.97363.57406.63
(/) Shares Outstanding (M)12.2012.2012.20
(=) Excess Retained per Share24.5129.8033.33
LTM Dividend per Share31.9731.9731.97
(+) Excess Retained per Share24.5129.8033.33
(=) Adjusted Dividend56.4861.7765.30
WACC / Discount Rate5.25%5.25%5.25%
Growth Rate5.50%6.50%7.50%
Fair Value$11,916.85$13,157.60$14,040.06
Upside / Downside3,193.77%3,536.70%3,780.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)861.22917.20976.811,040.311,107.931,179.941,215.34
Payout Ratio45.28%54.23%63.17%72.11%81.06%90.00%92.50%
Projected Dividends (M)390.00497.38617.06750.21898.051,061.951,124.19

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.25%5.25%5.25%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)468.13472.57477.00
Year 2 PV (M)546.63557.04567.55
Year 3 PV (M)625.50643.46661.75
Year 4 PV (M)704.74731.84759.72
Year 5 PV (M)784.36822.24861.58
PV of Terminal Value (M)36,909.2238,691.9540,542.91
Equity Value (M)40,038.5841,919.1043,870.52
Shares Outstanding (M)12.2012.2012.20
Fair Value$3,282.12$3,436.27$3,596.24
Upside / Downside807.16%849.77%893.99%

High-Yield Dividend Screener

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