Andrew Stolz

FEBRUARY 7, 2022

Massive dividend yield secured by strong cash generation. Download the full report as a PDF. Cash machine ensures consistent massive dividend yield. It consistently delivered strong FCFF that were more than sufficient to cover high dividends. The FCF yield shows ROEC’s dividend-paying potential.

Dividends 52

Dividends Net Debt EBIT Marketability 52

Andrew Stolz

JANUARY 16, 2022

Download the full report as a PDF. Share repurchases and dividends. The dividend yield could return to 5% in 2022. Strong operating cash flow allows the company to pay out dividends which are in line with its pre-pandemic policy. EBIT margin expansion in 22E probably only short-lived. Advancing ESG issues.

Dividends 52

Dividends EBIT Marketability Business Valuation 52

Andrew Stolz

JANUARY 13, 2022

Download the full report as a PDF. Strong operating cash flow allows the company to pay out dividends which are in line with its pre=pandemic policy. We expect that the dividend yield over the near-term to range between 2-3%. EBIT margin is likely to expand significantly through better cost control. Ratios – Ralph Lauren.

EBIT 52

EBIT Dividends Marketability Business Valuation 52

Andrew Stolz

JANUARY 17, 2022

Value play with strong dividend growth potential. Download the full report as a PDF. Strong operating cash flow allows the company to resume its dividend payments in line with its pre-pandemic policy. I expect dividend yield over the near-term to range between 2.5-3.5%. EBIT margin expansion in 21E likely to stay.

Marketability 52

Marketability Dividends Net Debt Start-ups 52

Andrew Stolz

NOVEMBER 21, 2021

Download the full report as a PDF. The company pays out dividends on a consistent basis. Dividend payout ratio is almost constant around 30%. Competitors like VW and GM only achieve EBIT margin between 5 and 7%. Solid dividend and share buyback offer attractive return even without upside. Do you own Toyota?

Dividends 52

Dividends EBIT Treasury Equity 52

Andrew Stolz

NOVEMBER 28, 2021

Download the full report as a PDF. Given its losses over the past years, it did not pay out any dividends since 2016. We assume that there will be no dividends at least for the next 3 years. It will be a challenge for the company to drive its EBIT margin to the industry average of 7-9%. Download the full report as a PDF.

Dividends 52

Dividends EBIT Equity Business Valuation 52

Musings on Markets

JANUARY 5, 2024

I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year. Dividends and Potential Dividends (FCFE) 1. Dividend yield & payout 3. Buybacks 2.

Dividends 100

Dividends Risk Premium Equity Book Value 100