Definitive Analysis
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Definitive Analysis

Financial Statements

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Industry

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MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság (MOL.BD)

Company Dividend Discount ModelIndustry: Oil & Gas IntegratedSector: Energy

Valuation Snapshot

Stable Growth$7,400.87 - $16,731.61$10,743.84
Multi-Stage$5,689.81 - $6,193.83$5,937.34
Blended Fair Value$8,340.59
Current Price$2,698.00
Upside209.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.86%14.65%258.04303.71253.0978.620.00129.10114.1269.7063.2655.80
YoY Growth---15.03%20.00%221.92%5,940,300.00%-100.00%13.13%63.74%10.18%13.37%-15.13%
Dividend Yield--8.81%10.25%9.87%2.68%0.00%6.69%3.44%2.51%2.56%2.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)276,734.00
(-) Cash Dividends Paid (M)215,061.00
(=) Cash Retained (M)61,673.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)55,346.8034,591.7520,755.05
Cash Retained (M)61,673.0061,673.0061,673.00
(-) Cash Required (M)-55,346.80-34,591.75-20,755.05
(=) Excess Retained (M)6,326.2027,081.2540,917.95
(/) Shares Outstanding (M)755.62755.62755.62
(=) Excess Retained per Share8.3735.8454.15
LTM Dividend per Share284.62284.62284.62
(+) Excess Retained per Share8.3735.8454.15
(=) Adjusted Dividend292.99320.46338.77
WACC / Discount Rate9.68%9.68%9.68%
Growth Rate5.50%6.50%7.50%
Fair Value$7,400.87$10,743.84$16,731.61
Upside / Downside174.31%298.22%520.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)276,734.00294,721.71313,878.62334,280.73356,008.98379,149.56390,524.05
Payout Ratio77.71%80.17%82.63%85.09%87.54%90.00%92.50%
Projected Dividends (M)215,061.00236,281.88259,352.84284,424.74311,660.21341,234.61361,234.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.68%9.68%9.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)213,412.28215,435.14217,458.01
Year 2 PV (M)211,577.26215,607.21219,675.18
Year 3 PV (M)209,572.51215,588.59221,718.71
Year 4 PV (M)207,413.64215,390.18223,594.61
Year 5 PV (M)205,115.27215,022.42225,308.73
PV of Terminal Value (M)3,252,227.813,409,311.633,572,407.42
Equity Value (M)4,299,318.784,486,355.184,680,162.66
Shares Outstanding (M)755.62755.62755.62
Fair Value$5,689.81$5,937.34$6,193.83
Upside / Downside110.89%120.06%129.57%

High-Yield Dividend Screener

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