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Ricegrowers Limited (SGLLV.AX)

Company Dividend Discount ModelIndustry: Agricultural Farm ProductsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$211.07 - $392.74$368.06
Multi-Stage$62.41 - $68.29$65.30
Blended Fair Value$216.68
Current Price$11.00
Upside1,869.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS22.72%11.70%0.580.390.280.300.220.210.210.250.280.22
YoY Growth--49.65%40.42%-7.03%36.86%4.09%1.79%-16.24%-11.21%26.93%13.04%
Dividend Yield--5.29%5.97%4.41%4.33%3.31%4.06%3.16%2.96%3.33%2.62%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)131.55
(-) Cash Dividends Paid (M)71.76
(=) Cash Retained (M)59.79
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.3116.449.87
Cash Retained (M)59.7959.7959.79
(-) Cash Required (M)-26.31-16.44-9.87
(=) Excess Retained (M)33.4843.3549.93
(/) Shares Outstanding (M)66.6166.6166.61
(=) Excess Retained per Share0.500.650.75
LTM Dividend per Share1.081.081.08
(+) Excess Retained per Share0.500.650.75
(=) Adjusted Dividend1.581.731.83
WACC / Discount Rate6.29%6.29%6.29%
Growth Rate5.50%6.50%7.50%
Fair Value$211.07$368.06$392.74
Upside / Downside1,818.86%3,245.98%3,470.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)131.55140.10149.20158.90169.23180.23185.64
Payout Ratio54.55%61.64%68.73%75.82%82.91%90.00%92.50%
Projected Dividends (M)71.7686.35102.54120.48140.31162.21171.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.29%6.29%6.29%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)80.4881.2482.01
Year 2 PV (M)89.0790.7792.48
Year 3 PV (M)97.53100.33103.18
Year 4 PV (M)105.86109.93114.12
Year 5 PV (M)114.06119.57125.29
PV of Terminal Value (M)3,670.413,847.694,031.76
Equity Value (M)4,157.414,349.534,548.83
Shares Outstanding (M)66.6166.6166.61
Fair Value$62.41$65.30$68.29
Upside / Downside467.39%493.61%520.81%

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