Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

PT Mitra Pack Tbk (PTMP.JK)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$25.66 - $36.66$31.06
Multi-Stage$43.25 - $47.30$45.24
Blended Fair Value$38.15
Current Price$95.00
Upside-59.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)10,916.54
(-) Cash Dividends Paid (M)8,430.07
(=) Cash Retained (M)2,486.47
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,183.311,364.57818.74
Cash Retained (M)2,486.472,486.472,486.47
(-) Cash Required (M)-2,183.31-1,364.57-818.74
(=) Excess Retained (M)303.161,121.901,667.73
(/) Shares Outstanding (M)2,905.152,905.152,905.15
(=) Excess Retained per Share0.100.390.57
LTM Dividend per Share2.902.902.90
(+) Excess Retained per Share0.100.390.57
(=) Adjusted Dividend3.013.293.48
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate-2.00%-1.00%0.00%
Fair Value$25.66$31.06$36.66
Upside / Downside-72.99%-67.31%-61.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10,916.5410,807.3810,699.3010,592.3110,486.3910,381.5210,692.97
Payout Ratio77.22%79.78%82.33%84.89%87.44%90.00%92.50%
Projected Dividends (M)8,430.078,621.958,809.148,991.729,169.789,343.379,891.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.48%9.48%9.48%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)7,795.707,875.257,954.80
Year 2 PV (M)7,201.687,349.407,498.62
Year 3 PV (M)6,646.516,852.057,061.80
Year 4 PV (M)6,128.576,382.576,644.39
Year 5 PV (M)5,646.185,940.186,246.32
PV of Terminal Value (M)92,217.9097,019.90102,019.89
Equity Value (M)125,636.54131,419.37137,425.82
Shares Outstanding (M)2,905.152,905.152,905.15
Fair Value$43.25$45.24$47.30
Upside / Downside-54.48%-52.38%-50.21%

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