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Precise Corporation Public Company Limited (PCC.BK)

Company Dividend Discount ModelIndustry: ConglomeratesSector: Industrials

Valuation Snapshot

Stable Growth$5.75 - $10.86$7.82
Multi-Stage$9.59 - $10.53$10.05
Blended Fair Value$8.94
Current Price$2.94
Upside203.98%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192017201620152014
DPS36.09%0.00%0.210.200.390.040.040.040.020.000.000.00
YoY Growth--5.00%-48.63%765.50%0.00%0.00%83.54%0.00%0.00%0.00%0.00%
Dividend Yield--8.01%6.52%12.22%1.11%1.11%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)469.61
(-) Cash Dividends Paid (M)257.57
(=) Cash Retained (M)212.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)93.9258.7035.22
Cash Retained (M)212.04212.04212.04
(-) Cash Required (M)-93.92-58.70-35.22
(=) Excess Retained (M)118.11153.34176.82
(/) Shares Outstanding (M)1,237.211,237.211,237.21
(=) Excess Retained per Share0.100.120.14
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.100.120.14
(=) Adjusted Dividend0.300.330.35
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate1.01%2.01%3.01%
Fair Value$5.75$7.82$10.86
Upside / Downside95.69%166.06%269.28%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)469.61479.05488.69498.52508.54518.77534.34
Payout Ratio54.85%61.88%68.91%75.94%82.97%90.00%92.50%
Projected Dividends (M)257.57296.43336.75378.57421.94466.90494.26

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.34%6.34%6.34%
Growth Rate1.01%2.01%3.01%
Year 1 PV (M)276.02278.75281.48
Year 2 PV (M)291.97297.78303.64
Year 3 PV (M)305.62314.79324.14
Year 4 PV (M)317.18329.93343.05
Year 5 PV (M)326.80343.31360.46
PV of Terminal Value (M)10,349.3810,871.9211,415.34
Equity Value (M)11,866.9712,436.4613,028.13
Shares Outstanding (M)1,237.211,237.211,237.21
Fair Value$9.59$10.05$10.53
Upside / Downside226.25%241.91%258.17%

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