Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dayang Enterprise Holdings Bhd (5141.KL)

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

Valuation Snapshot

Stable Growth$2.60 - $5.05$3.58
Multi-Stage$2.85 - $3.11$2.98
Blended Fair Value$3.28
Current Price$1.60
Upside104.85%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%1.86%0.060.030.020.020.000.000.000.000.000.03
YoY Growth--100.00%99.99%0.00%0.00%0.00%0.00%0.00%0.00%-100.00%-46.84%
Dividend Yield--3.14%1.24%1.12%1.67%0.00%0.00%0.00%0.00%0.00%2.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)186.04
(-) Cash Dividends Paid (M)162.09
(=) Cash Retained (M)23.95
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.2123.2613.95
Cash Retained (M)23.9523.9523.95
(-) Cash Required (M)-37.21-23.26-13.95
(=) Excess Retained (M)-13.250.7010.00
(/) Shares Outstanding (M)1,157.771,157.771,157.77
(=) Excess Retained per Share-0.010.000.01
LTM Dividend per Share0.140.140.14
(+) Excess Retained per Share-0.010.000.01
(=) Adjusted Dividend0.130.140.15
WACC / Discount Rate8.39%8.39%8.39%
Growth Rate3.29%4.29%5.29%
Fair Value$2.60$3.58$5.05
Upside / Downside62.71%123.51%215.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)186.04194.02202.34211.02220.07229.51236.40
Payout Ratio87.12%87.70%88.27%88.85%89.42%90.00%92.50%
Projected Dividends (M)162.09170.16178.62187.49196.80206.56218.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.39%8.39%8.39%
Growth Rate3.29%4.29%5.29%
Year 1 PV (M)155.48156.99158.49
Year 2 PV (M)149.14152.04154.97
Year 3 PV (M)143.04147.24151.52
Year 4 PV (M)137.20142.59148.13
Year 5 PV (M)131.58138.07144.82
PV of Terminal Value (M)2,584.552,712.112,844.66
Equity Value (M)3,300.993,449.033,602.59
Shares Outstanding (M)1,157.771,157.771,157.77
Fair Value$2.85$2.98$3.11
Upside / Downside78.20%86.19%94.48%

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