Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Wikana S.A. (WIK.WA)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$9.32 - $19.64$13.20
Multi-Stage$7.39 - $8.04$7.71
Blended Fair Value$10.46
Current Price$8.00
Upside30.69%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.400.250.250.150.000.000.000.000.000.00
YoY Growth--59.99%0.00%66.69%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.78%3.67%7.67%3.12%0.00%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)10.00
(-) Cash Dividends Paid (M)7.90
(=) Cash Retained (M)2.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.001.250.75
Cash Retained (M)2.102.102.10
(-) Cash Required (M)-2.00-1.25-0.75
(=) Excess Retained (M)0.100.851.35
(/) Shares Outstanding (M)19.9519.9519.95
(=) Excess Retained per Share0.000.040.07
LTM Dividend per Share0.400.400.40
(+) Excess Retained per Share0.000.040.07
(=) Adjusted Dividend0.400.440.46
WACC / Discount Rate10.04%10.04%10.04%
Growth Rate5.50%6.50%7.50%
Fair Value$9.32$13.20$19.64
Upside / Downside16.54%65.05%145.52%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)10.0010.6511.3412.0812.8613.7014.11
Payout Ratio79.03%81.22%83.42%85.61%87.81%90.00%92.50%
Projected Dividends (M)7.908.659.4610.3411.2912.3313.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.04%10.04%10.04%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)7.797.867.93
Year 2 PV (M)7.677.817.96
Year 3 PV (M)7.547.767.98
Year 4 PV (M)7.427.708.00
Year 5 PV (M)7.297.648.01
PV of Terminal Value (M)109.67114.96120.46
Equity Value (M)147.37153.74160.34
Shares Outstanding (M)19.9519.9519.95
Fair Value$7.39$7.71$8.04
Upside / Downside-7.65%-3.66%0.47%

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