Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

PT Wilmar Cahaya Indonesia Tbk. (CEKA.JK)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$8,414.26 - $17,844.16$11,944.71
Multi-Stage$6,271.77 - $6,843.12$6,552.30
Blended Fair Value$9,248.51
Current Price$2,650.00
Upside249.00%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%7.19%99.8699.8699.8699.8699.8699.8544.89149.750.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.01%122.41%-70.02%0.00%0.00%-100.00%
Dividend Yield--4.76%5.26%4.94%5.37%5.40%8.32%4.34%11.35%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)266,933.42
(-) Cash Dividends Paid (M)89,123.43
(=) Cash Retained (M)177,809.99
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53,386.6833,366.6820,020.01
Cash Retained (M)177,809.99177,809.99177,809.99
(-) Cash Required (M)-53,386.68-33,366.68-20,020.01
(=) Excess Retained (M)124,423.31144,443.31157,789.99
(/) Shares Outstanding (M)595.00595.00595.00
(=) Excess Retained per Share209.11242.76265.19
LTM Dividend per Share149.79149.79149.79
(+) Excess Retained per Share209.11242.76265.19
(=) Adjusted Dividend358.90392.55414.98
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.50%6.50%7.50%
Fair Value$8,414.26$11,944.71$17,844.16
Upside / Downside217.52%350.74%573.36%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)266,933.42284,284.09302,762.56322,442.13343,400.87365,721.92376,693.58
Payout Ratio33.39%44.71%56.03%67.36%78.68%90.00%92.50%
Projected Dividends (M)89,123.43127,104.30169,646.14217,181.39270,179.48329,149.73348,441.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)114,464.39115,549.36116,634.33
Year 2 PV (M)137,582.85140,203.42142,848.71
Year 3 PV (M)158,618.24163,171.60167,811.27
Year 4 PV (M)177,702.29184,536.22191,565.39
Year 5 PV (M)194,959.47204,376.09214,153.10
PV of Terminal Value (M)2,948,375.163,090,782.783,238,640.68
Equity Value (M)3,731,702.403,898,619.474,071,653.48
Shares Outstanding (M)595.00595.00595.00
Fair Value$6,271.77$6,552.30$6,843.12
Upside / Downside136.67%147.26%158.23%

High-Yield Dividend Screener

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