Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PDS Limited (PDSL.BO)

Company Dividend Discount ModelIndustry: Specialty Business ServicesSector: Industrials

Valuation Snapshot

Stable Growth$675.44 - $1,510.59$1,415.64
Multi-Stage$226.18 - $247.56$236.67
Blended Fair Value$826.16
Current Price$318.15
Upside159.68%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS29.48%0.00%4.543.796.662.883.301.250.000.000.000.00
YoY Growth--19.70%-43.08%131.24%-12.61%164.31%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.11%0.68%1.97%0.86%1.65%2.29%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,081.68
(-) Cash Dividends Paid (M)413.40
(=) Cash Retained (M)668.28
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)216.34135.2181.13
Cash Retained (M)668.28668.28668.28
(-) Cash Required (M)-216.34-135.21-81.13
(=) Excess Retained (M)451.95533.07587.16
(/) Shares Outstanding (M)142.41142.41142.41
(=) Excess Retained per Share3.173.744.12
LTM Dividend per Share2.902.902.90
(+) Excess Retained per Share3.173.744.12
(=) Adjusted Dividend6.086.657.03
WACC / Discount Rate6.45%6.45%6.45%
Growth Rate5.50%6.50%7.50%
Fair Value$675.44$1,415.64$1,510.59
Upside / Downside112.30%344.96%374.80%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,081.681,151.991,226.871,306.611,391.541,482.001,526.46
Payout Ratio38.22%48.57%58.93%69.29%79.64%90.00%92.50%
Projected Dividends (M)413.40559.57723.00905.321,108.281,333.801,411.97

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.45%6.45%6.45%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)520.74525.67530.61
Year 2 PV (M)626.13638.05650.09
Year 3 PV (M)729.60750.54771.88
Year 4 PV (M)831.17863.14896.02
Year 5 PV (M)930.88975.841,022.52
PV of Terminal Value (M)28,570.7929,950.7731,383.57
Equity Value (M)32,209.3133,704.0235,254.69
Shares Outstanding (M)142.41142.41142.41
Fair Value$226.18$236.67$247.56
Upside / Downside-28.91%-25.61%-22.19%

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