Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

PT Sigma Energy Compressindo Tbk (SICO.JK)

Company Dividend Discount ModelIndustry: Oil & Gas Equipment & ServicesSector: Energy

Valuation Snapshot

Stable Growth$89.73 - $128.79$108.83
Multi-Stage$147.42 - $161.66$154.40
Blended Fair Value$131.62
Current Price$112.00
Upside17.51%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%5.004.002.000.000.000.000.000.000.000.00
YoY Growth--25.04%99.82%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.00%4.08%1.37%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)11,705.08
(-) Cash Dividends Paid (M)5,460.39
(=) Cash Retained (M)6,244.69
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,341.021,463.13877.88
Cash Retained (M)6,244.696,244.696,244.69
(-) Cash Required (M)-2,341.02-1,463.13-877.88
(=) Excess Retained (M)3,903.674,781.555,366.81
(/) Shares Outstanding (M)910.06910.06910.06
(=) Excess Retained per Share4.295.255.90
LTM Dividend per Share6.006.006.00
(+) Excess Retained per Share4.295.255.90
(=) Adjusted Dividend10.2911.2511.90
WACC / Discount Rate9.24%9.24%9.24%
Growth Rate-2.00%-1.00%0.00%
Fair Value$89.73$108.83$128.79
Upside / Downside-19.88%-2.83%14.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)11,705.0811,588.0311,472.1511,357.4211,243.8511,131.4111,465.35
Payout Ratio46.65%55.32%63.99%72.66%81.33%90.00%92.50%
Projected Dividends (M)5,460.396,410.477,341.018,252.299,144.6210,018.2710,605.45

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.24%9.24%9.24%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)5,809.095,868.375,927.64
Year 2 PV (M)6,028.266,151.916,276.82
Year 3 PV (M)6,140.856,330.766,524.55
Year 4 PV (M)6,166.486,422.056,685.49
Year 5 PV (M)6,121.856,440.626,772.55
PV of Terminal Value (M)103,893.23109,303.19114,936.21
Equity Value (M)134,159.75140,516.90147,123.25
Shares Outstanding (M)910.06910.06910.06
Fair Value$147.42$154.40$161.66
Upside / Downside31.62%37.86%44.34%

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