Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Polar Capital Holdings plc (POLR.L)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$25.72 - $114.51$44.91
Multi-Stage$16.22 - $17.71$16.95
Blended Fair Value$30.93
Current Price$4.80
Upside544.38%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS7.69%6.85%0.450.450.460.440.330.310.280.230.230.23
YoY Growth--0.17%-0.34%2.49%36.02%4.08%12.38%18.95%1.71%2.16%-3.57%
Dividend Yield--10.65%10.13%10.06%7.16%4.70%8.16%5.37%4.57%6.62%6.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)80.91
(-) Cash Dividends Paid (M)44.33
(=) Cash Retained (M)36.58
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)16.1810.116.07
Cash Retained (M)36.5836.5836.58
(-) Cash Required (M)-16.18-10.11-6.07
(=) Excess Retained (M)20.3926.4630.51
(/) Shares Outstanding (M)97.6397.6397.63
(=) Excess Retained per Share0.210.270.31
LTM Dividend per Share0.450.450.45
(+) Excess Retained per Share0.210.270.31
(=) Adjusted Dividend0.660.730.77
WACC / Discount Rate8.22%8.22%8.22%
Growth Rate5.50%6.50%7.50%
Fair Value$25.72$44.91$114.51
Upside / Downside435.79%835.59%2,285.64%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)80.9186.1791.7797.73104.09110.85114.18
Payout Ratio54.79%61.84%68.88%75.92%82.96%90.00%92.50%
Projected Dividends (M)44.3353.2863.2174.2086.3599.77105.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.22%8.22%8.22%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)48.7749.2349.70
Year 2 PV (M)52.9653.9754.99
Year 3 PV (M)56.9158.5460.21
Year 4 PV (M)60.6262.9565.35
Year 5 PV (M)64.1267.2170.43
PV of Terminal Value (M)1,300.361,363.171,428.38
Equity Value (M)1,583.741,655.081,729.05
Shares Outstanding (M)97.6397.6397.63
Fair Value$16.22$16.95$17.71
Upside / Downside237.95%253.17%268.96%

High-Yield Dividend Screener

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