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PT Darya-Varia Laboratoria Tbk (DVLA.JK)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$2,207.08 - $4,028.59$2,962.21
Multi-Stage$3,733.79 - $4,096.04$3,911.46
Blended Fair Value$3,436.84
Current Price$1,625.00
Upside111.50%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.22%17.25%108.00121.00116.00112.00107.00106.80106.6199.6434.8769.75
YoY Growth---10.74%4.31%3.57%4.67%0.19%0.18%7.00%185.71%-50.00%217.02%
Dividend Yield--7.61%8.18%5.89%4.07%4.51%5.09%5.05%4.99%2.05%5.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)173,089.61
(-) Cash Dividends Paid (M)123,200.00
(=) Cash Retained (M)49,889.61
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)34,617.9221,636.2012,981.72
Cash Retained (M)49,889.6149,889.6149,889.61
(-) Cash Required (M)-34,617.92-21,636.20-12,981.72
(=) Excess Retained (M)15,271.6928,253.4136,907.89
(/) Shares Outstanding (M)1,120.001,120.001,120.00
(=) Excess Retained per Share13.6425.2332.95
LTM Dividend per Share110.00110.00110.00
(+) Excess Retained per Share13.6425.2332.95
(=) Adjusted Dividend123.64135.23142.95
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate0.86%1.86%2.86%
Fair Value$2,207.08$2,962.21$4,028.59
Upside / Downside35.82%82.29%147.91%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)173,089.61176,310.08179,590.48182,931.91186,335.51189,802.44195,496.51
Payout Ratio71.18%74.94%78.71%82.47%86.24%90.00%92.50%
Projected Dividends (M)123,200.00132,129.61141,348.85150,865.42160,687.18170,822.20180,834.28

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate0.86%1.86%2.86%
Year 1 PV (M)122,835.18124,053.05125,270.92
Year 2 PV (M)122,162.40124,596.81127,055.23
Year 3 PV (M)121,215.34124,856.64128,570.14
Year 4 PV (M)120,025.01124,856.31129,832.01
Year 5 PV (M)118,619.88124,618.03130,856.41
PV of Terminal Value (M)3,576,984.663,757,859.123,945,977.59
Equity Value (M)4,181,842.484,380,839.964,587,562.31
Shares Outstanding (M)1,120.001,120.001,120.00
Fair Value$3,733.79$3,911.46$4,096.04
Upside / Downside129.77%140.71%152.06%

High-Yield Dividend Screener

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