Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

International Network System Public Company Limited (ITNS.BK)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$1.33 - $1.96$1.64
Multi-Stage$2.55 - $2.79$2.66
Blended Fair Value$2.15
Current Price$1.34
Upside60.46%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%0.120.130.250.130.240.000.000.000.000.00
YoY Growth---1.81%-49.73%88.85%-44.40%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--8.92%5.18%5.92%3.42%6.15%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)35.89
(-) Cash Dividends Paid (M)31.98
(=) Cash Retained (M)3.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.184.492.69
Cash Retained (M)3.913.913.91
(-) Cash Required (M)-7.18-4.49-2.69
(=) Excess Retained (M)-3.27-0.581.22
(/) Shares Outstanding (M)209.00209.00209.00
(=) Excess Retained per Share-0.020.000.01
LTM Dividend per Share0.150.150.15
(+) Excess Retained per Share-0.020.000.01
(=) Adjusted Dividend0.140.150.16
WACC / Discount Rate8.09%8.09%8.09%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.33$1.64$1.96
Upside / Downside-0.48%22.05%46.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)35.8935.5335.1734.8234.4734.1335.15
Payout Ratio89.11%89.29%89.47%89.65%89.82%90.00%92.50%
Projected Dividends (M)31.9831.7231.4731.2130.9630.7132.51

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.09%8.09%8.09%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)29.0529.3529.64
Year 2 PV (M)26.3926.9327.48
Year 3 PV (M)23.9724.7125.47
Year 4 PV (M)21.7822.6823.61
Year 5 PV (M)19.7820.8121.88
PV of Terminal Value (M)411.08432.48454.77
Equity Value (M)532.05556.97582.86
Shares Outstanding (M)209.00209.00209.00
Fair Value$2.55$2.66$2.79
Upside / Downside89.98%98.87%108.12%

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