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Definitive Analysis

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Page: Dividend Discount Model

PIMCO High Income Fund

Ticker: PHK | Industry: Asset Management - Income | Sector: Financial Services
$4.92 0.00 (0.00%)
As of: 2026-01-23

Master Data Export


Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$2.32 - $2.72$2.53
Multi-Stage DDM$1.90 - $2.12$2.01
Blended Fair Value$2.27
Stock Price$4.86

Dividend History (Last 10 Years)

Metric2025202420232022202120202019201820172016
DPS0.5150.5190.5390.4680.5180.6450.8180.9411.0450.000
YoY %-0.82%-3.63%15.16%-9.73%-19.69%-21.09%-13.14%-9.92%0.00%-100.00%
Yield10.592%10.679%11.081%9.622%10.660%13.274%16.822%19.367%21.500%0.000%

CAGRValue
5 Year-4.41%
10 Year-9.22%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-23.73% to -21.73%-22.73%
WACC9.57%9.57%
Fair Value$2.32 - $2.72$2.53

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income103.47103.47103.47
(=) Cash Required20.6912.937.76
Cash Retained103.47103.47103.47
(-) Cash Required-20.69-12.93-7.76
(=) Excess Retained82.7790.5395.71
(/) Shares Outstanding166,841,935166,841,935166,841,935
(=) Excess Retained per Share0.500.540.57
LTM Dividend per Share0.5150.5150.515
(+) Excess Retained per Share0.500.540.57
(=) Adjusted Dividend1.0111.0571.088

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income103.4779.9561.7847.7436.8928.50
Payout Ratio83.0%25.0%41.0%57.0%73.0%90.0%
Projected Dividends85.8819.9925.3327.2126.9325.65

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV18.8519.0919.34
Year 2 PV21.5222.0822.66
Year 3 PV20.8221.6522.50
Year 4 PV18.5619.5620.59
Year 5 PV15.9317.0018.13
TV PV220.71235.57251.21
Equity Value316.39334.96354.43
Fair Value$1.90$2.01$2.12
Stock Price$4.86$4.86$4.86

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