Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Samudera Shipping Line Ltd (S56.SI)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$5.31 - $24.04$9.31
Multi-Stage$3.47 - $3.79$3.63
Blended Fair Value$6.47
Current Price$0.66
Upside885.50%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS67.93%0.00%0.070.200.150.010.010.010.010.000.010.01
YoY Growth---63.47%36.36%1,174.79%116.52%-2.86%-2.21%57.86%-33.52%-59.46%0.00%
Dividend Yield--11.31%33.06%15.63%2.75%2.83%4.73%4.78%1.95%4.17%8.72%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)91.79
(-) Cash Dividends Paid (M)55.63
(=) Cash Retained (M)36.15
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.3611.476.88
Cash Retained (M)36.1536.1536.15
(-) Cash Required (M)-18.36-11.47-6.88
(=) Excess Retained (M)17.8024.6829.27
(/) Shares Outstanding (M)538.04538.04538.04
(=) Excess Retained per Share0.030.050.05
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.030.050.05
(=) Adjusted Dividend0.140.150.16
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.31%6.31%7.31%
Fair Value$5.31$9.31$24.04
Upside / Downside709.68%1,318.53%3,562.66%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)91.7997.58103.74110.29117.26124.66128.40
Payout Ratio60.61%66.49%72.37%78.24%84.12%90.00%92.50%
Projected Dividends (M)55.6364.8875.0886.3098.64112.19118.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.31%6.31%7.31%
Year 1 PV (M)59.5060.0760.63
Year 2 PV (M)63.1464.3465.56
Year 3 PV (M)66.5668.4770.42
Year 4 PV (M)69.7772.4575.22
Year 5 PV (M)72.7776.2979.95
PV of Terminal Value (M)1,535.211,609.491,686.62
Equity Value (M)1,866.941,951.122,038.41
Shares Outstanding (M)538.04538.04538.04
Fair Value$3.47$3.63$3.79
Upside / Downside428.64%452.47%477.19%

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