Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

CSC Steel Holdings Berhad (5094.KL)

Company Dividend Discount ModelIndustry: SteelSector: Basic Materials

Valuation Snapshot

Stable Growth$0.92 - $1.38$1.14
Multi-Stage$1.11 - $1.22$1.17
Blended Fair Value$1.15
Current Price$1.15
Upside0.17%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS18.64%2.92%0.090.030.140.070.070.040.100.140.080.03
YoY Growth--213.33%-78.57%100.00%6.06%65.00%-60.00%-28.57%75.27%165.46%-57.32%
Dividend Yield--8.17%2.21%12.28%4.27%4.62%6.61%9.62%10.22%4.49%2.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)38.02
(-) Cash Dividends Paid (M)0.00
(=) Cash Retained (M)38.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.604.752.85
Cash Retained (M)38.0238.0238.02
(-) Cash Required (M)-7.60-4.75-2.85
(=) Excess Retained (M)30.4133.2635.17
(/) Shares Outstanding (M)369.30369.30369.30
(=) Excess Retained per Share0.080.090.10
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.080.090.10
(=) Adjusted Dividend0.080.090.10
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate0.92%1.92%2.92%
Fair Value$0.92$1.14$1.38
Upside / Downside-20.41%-1.21%20.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)38.0238.7539.4940.2541.0241.8143.06
Payout Ratio0.00%18.00%36.00%54.00%72.00%90.00%92.50%
Projected Dividends (M)0.006.9714.2221.7329.5337.6339.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate0.92%1.92%2.92%
Year 1 PV (M)6.286.346.40
Year 2 PV (M)11.5211.7511.98
Year 3 PV (M)15.8516.3316.81
Year 4 PV (M)19.3920.1720.98
Year 5 PV (M)22.2423.3624.53
PV of Terminal Value (M)336.33353.33371.00
Equity Value (M)411.61431.28451.71
Shares Outstanding (M)369.30369.30369.30
Fair Value$1.11$1.17$1.22
Upside / Downside-3.08%1.55%6.36%

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