Frontiers · Global Equities · Shareholder returns
From business performance to investor return.
Shareholder returns appraisal
Trace revenue, margins, diluted shares, multiples, dividends, fees and currency through to the investor’s cash.
Modelled outcome
Appraisal summary
Annualised investor IRR
7.8%
7-year scenario
Investor net profit
$32,800
After modelled fees & withholding
Final net sale proceeds
$75,355
Distributions shown separately
Investor NPV
-$6,300
10% annual hurdle
The business-to-share bridge
Traditional share case: how company earnings translate into a per-share price path.
Entry earnings / share
3 CU
20× entry P/E
Final earnings / share
5.05 CU
18× terminal P/E
Final share price
90.88 CU
Scenario output, not a target
Net-flow multiple
1.66×
Positive ÷ negative net flows
Revenue, margin, share count and P/E are independent assumptions. No automatic reinvestment budget or buyback funding is modelled.
Position value through the scenario
Market value of the holding before sale costs, against the initial budget.
A smooth annual scenario, not a volatility forecast. Position value excludes cash distributions and externally paid account fees.
Investor cash summary
Where the money went over the hold.
| Measure | USD |
|---|---|
| Initial budget | $50,000 |
| Cash distributions received | $8,339 |
| Passed dividends, before withholding | $8,339 |
| Dividend withholding | $0 |
| All modelled fees | $1,208 |
| Final net sale | $75,355 |
| Total investor profit | $32,800 |
Reinvested dividends remain in the position and are not also counted as distributed cash. Fees include entry, reinvestment, custody and sale.
Own the business — or a claim linked to it?
The return here assumes ordinary shareholder economics.
Traditional shares, issuer-sponsored tokens, custodial interests and synthetic exposure can carry different rights. Compare additional costs and contractual cash-flow differences in the ownership view.
Inspect the ownership structure →Annual investor schedule
Year-end dividends, fees and the final sale, in USD.
| Year | EPS (CU) | Price (CU) | USD / CU | Shares held | Cash distribution | Account fee | Investor net flow |
|---|---|---|---|---|---|---|---|
| 1 | 3.24 | 63.84 | 1 | 831.26 | $942 | $106 | $836 |
| 2 | 3.49 | 67.87 | 1 | 831.26 | $1,016 | $113 | $903 |
| 3 | 3.77 | 72.08 | 1 | 831.26 | $1,095 | $120 | $976 |
| 4 | 4.06 | 76.48 | 1 | 831.26 | $1,180 | $127 | $1,053 |
| 5 | 4.37 | 81.07 | 1 | 831.26 | $1,270 | $135 | $1,135 |
| 6 | 4.7 | 85.87 | 1 | 831.26 | $1,366 | $143 | $1,224 |
| 7 | 5.05 | 90.88 | 1 | 831.26 | $1,469 | $151 | $76,673 |
The last flow includes sale. Dividends and fees occur at year-end. Account fees are paid externally and do not reduce the share count.
Next: compare the multiple-based path with a cash-flow valuation.
Valuation lab →