Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Panorama Sentrawisata Tbk (PANR.JK)

Company Dividend Discount ModelIndustry: Travel ServicesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$3,404.38 - $5,999.43$4,505.74
Multi-Stage$3,782.21 - $4,142.18$3,958.84
Blended Fair Value$4,232.29
Current Price$885.00
Upside378.22%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.000.003.535.25
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%-100.00%-32.78%-25.79%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.53%1.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)347,296.93
(-) Cash Dividends Paid (M)83,250.00
(=) Cash Retained (M)264,046.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)69,459.3943,412.1226,047.27
Cash Retained (M)264,046.93264,046.93264,046.93
(-) Cash Required (M)-69,459.39-43,412.12-26,047.27
(=) Excess Retained (M)194,587.54220,634.81237,999.66
(/) Shares Outstanding (M)1,387.501,387.501,387.50
(=) Excess Retained per Share140.24159.02171.53
LTM Dividend per Share60.0060.0060.00
(+) Excess Retained per Share140.24159.02171.53
(=) Adjusted Dividend200.24219.02231.53
WACC / Discount Rate8.73%8.73%8.73%
Growth Rate2.69%3.69%4.69%
Fair Value$3,404.38$4,505.74$5,999.43
Upside / Downside284.68%409.12%577.90%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)347,296.93360,122.85373,422.44387,213.20401,513.25416,341.42428,831.66
Payout Ratio23.97%37.18%50.38%63.59%76.79%90.00%92.50%
Projected Dividends (M)83,250.00133,881.70188,139.58246,222.43308,338.76374,707.28396,669.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.73%8.73%8.73%
Growth Rate2.69%3.69%4.69%
Year 1 PV (M)121,940.96123,128.39124,315.82
Year 2 PV (M)156,076.30159,130.77162,214.83
Year 3 PV (M)186,042.78191,530.79197,125.68
Year 4 PV (M)212,198.21220,585.06229,218.10
Year 5 PV (M)234,873.55246,534.16258,653.35
PV of Terminal Value (M)4,336,682.204,551,982.404,775,750.02
Equity Value (M)5,247,814.005,492,891.565,747,277.81
Shares Outstanding (M)1,387.501,387.501,387.50
Fair Value$3,782.21$3,958.84$4,142.18
Upside / Downside327.37%347.33%368.04%

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