Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Absolute Clean Energy Public Company Limited (ACE-R.BK)

Company Dividend Discount ModelIndustry: Renewable UtilitiesSector: Utilities

Valuation Snapshot

Stable Growth$0.95 - $1.56$1.22
Multi-Stage$1.32 - $1.45$1.38
Blended Fair Value$1.30
Current Price$1.31
Upside-0.58%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.020.020.030.000.000.050.000.00
YoY Growth---100.00%-100.00%11.00%-39.94%0.00%0.00%-100.00%0.00%-100.00%-95.77%
Dividend Yield--0.00%0.00%0.89%0.75%1.25%0.00%0.00%1.95%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)839.07
(-) Cash Dividends Paid (M)0.00
(=) Cash Retained (M)839.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)167.81104.8862.93
Cash Retained (M)839.07839.07839.07
(-) Cash Required (M)-167.81-104.88-62.93
(=) Excess Retained (M)671.25734.18776.14
(/) Shares Outstanding (M)9,994.349,994.349,994.34
(=) Excess Retained per Share0.070.070.08
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.070.070.08
(=) Adjusted Dividend0.070.070.08
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate0.85%1.85%2.85%
Fair Value$0.95$1.22$1.56
Upside / Downside-27.44%-6.76%18.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)839.07854.61870.44886.56902.97919.70947.29
Payout Ratio0.00%18.00%36.00%54.00%72.00%90.00%92.50%
Projected Dividends (M)0.00153.83313.36478.74650.14827.73876.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate0.85%1.85%2.85%
Year 1 PV (M)141.07142.47143.86
Year 2 PV (M)263.51268.76274.07
Year 3 PV (M)369.18380.28391.59
Year 4 PV (M)459.76478.27497.33
Year 5 PV (M)536.77563.92592.15
PV of Terminal Value (M)11,415.5611,992.8512,593.27
Equity Value (M)13,185.8613,826.5414,492.27
Shares Outstanding (M)9,994.349,994.349,994.34
Fair Value$1.32$1.38$1.45
Upside / Downside0.71%5.61%10.69%

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