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    Year Constant Payout Ratio Walter Model Gordon Model MM Model

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    Ayan Choksi
    This document shows the payout ratios and stock prices according to four valuation models (constant payout ratio, Walter, Gordon, and Modigliani-Miller) for a company over the years 2007 to 2011. The constant payout ratio model yielded the highest stock prices each year, while the Walter model provided the next highest prices and the Gordon model the next lowest prices. The Modigliani-Miller model consistently provided the lowest stock price estimates of the four models over this period.

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    Year Constant Payout Ratio Walter Model Gordon Model MM Model

    Uploaded by

    Ayan Choksi
    31 views2 pages
    This document shows the payout ratios and stock prices according to four valuation models (constant payout ratio, Walter, Gordon, and Modigliani-Miller) for a company over the years 2007 to 2011. The constant payout ratio model yielded the highest stock prices each year, while the Walter model provided the next highest prices and the Gordon model the next lowest prices. The Modigliani-Miller model consistently provided the lowest stock price estimates of the four models over this period.

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    numerical

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    Book1

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    This document shows the payout ratios and stock prices according to four valuation models (constant payout ratio, Walter, Gordon, and Modigliani-Miller) for a company over the years 2007 to 2011. The constant payout ratio model yielded the highest stock prices each year, while the Walter model provided the next highest prices and the Gordon model the next lowest prices. The Modigliani-Miller model consistently provided the lowest stock price estimates of the four models over this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    31 views2 pages

    Year Constant Payout Ratio Walter Model Gordon Model MM Model

    Uploaded by

    Ayan Choksi
    This document shows the payout ratios and stock prices according to four valuation models (constant payout ratio, Walter, Gordon, and Modigliani-Miller) for a company over the years 2007 to 2011. The constant payout ratio model yielded the highest stock prices each year, while the Walter model provided the next highest prices and the Gordon model the next lowest prices. The Modigliani-Miller model consistently provided the lowest stock price estimates of the four models over this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    Year

    2011
    2010
    2009
    2008
    2007

    Constant
    Payout
    Ratio
    479.25
    373.85
    181.83
    136.46
    142

    Walter
    model

    Gordon MM
    model
    model

    109.91
    83.74
    83.81
    72.29
    53.9

    67.59
    58.25
    43.34
    58.88
    44.66

    632.68
    492.75
    217.75
    163.11
    170.93

    700
    600
    500
    400
    300
    200
    100
    0
    2011

    2010

    X = year
    Y = Price of share

    Constant Payout Ratio


    Walter model

    Gordon model
    MM model

    2009

    2008

    2007

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