Definitive Analysis
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MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság (MOL.BD)

Company Dividend Discount ModelIndustry: Oil & Gas IntegratedSector: Energy

Valuation Snapshot

Stable Growth$24,687.07 - $72,835.10$68,257.15
Multi-Stage$10,270.00 - $11,221.79$10,737.23
Blended Fair Value$39,497.19
Current Price$2,698.00
Upside1,363.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.86%14.65%258.04303.71253.0978.620.00129.10114.1269.7063.2655.80
YoY Growth---15.03%20.00%221.92%5,940,300.00%-100.00%13.13%63.74%10.18%13.37%-15.13%
Dividend Yield--8.81%10.25%9.87%2.68%0.00%6.69%3.44%2.51%2.56%2.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)276,734.00
(-) Cash Dividends Paid (M)215,061.00
(=) Cash Retained (M)61,673.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)55,346.8034,591.7520,755.05
Cash Retained (M)61,673.0061,673.0061,673.00
(-) Cash Required (M)-55,346.80-34,591.75-20,755.05
(=) Excess Retained (M)6,326.2027,081.2540,917.95
(/) Shares Outstanding (M)755.62755.62755.62
(=) Excess Retained per Share8.3735.8454.15
LTM Dividend per Share284.62284.62284.62
(+) Excess Retained per Share8.3735.8454.15
(=) Adjusted Dividend292.99320.46338.77
WACC / Discount Rate6.75%6.75%6.75%
Growth Rate5.50%6.50%7.50%
Fair Value$24,687.07$68,257.15$72,835.10
Upside / Downside815.01%2,429.92%2,599.60%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)276,734.00294,721.71313,878.62334,280.73356,008.98379,149.56390,524.05
Payout Ratio77.71%80.17%82.63%85.09%87.54%90.00%92.50%
Projected Dividends (M)215,061.00236,281.88259,352.84284,424.74311,660.21341,234.61361,234.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.75%6.75%6.75%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)219,258.74221,337.02223,415.30
Year 2 PV (M)223,328.42227,582.20231,876.11
Year 3 PV (M)227,272.47233,796.65240,444.50
Year 4 PV (M)231,093.29239,980.48249,121.58
Year 5 PV (M)234,793.21246,133.80257,908.44
PV of Terminal Value (M)6,624,444.396,944,407.537,276,616.41
Equity Value (M)7,760,190.518,113,237.688,479,382.34
Shares Outstanding (M)755.62755.62755.62
Fair Value$10,270.00$10,737.23$11,221.79
Upside / Downside280.65%297.97%315.93%

High-Yield Dividend Screener

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