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PJSC Krasnoyarskenergosbyt (KRSB.ME)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$544.29 - $976.15$914.80
Multi-Stage$159.23 - $174.08$166.52
Blended Fair Value$540.66
Current Price$16.46
Upside3,184.69%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.91%140.98%1.541.310.980.750.700.530.590.510.890.32
YoY Growth--17.47%33.73%30.80%6.69%33.26%-10.27%14.32%-42.16%179.37%136,282.47%
Dividend Yield--9.33%6.70%9.37%9.38%7.45%9.97%14.45%12.73%22.92%10.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,246.47
(-) Cash Dividends Paid (M)2,680.08
(=) Cash Retained (M)566.39
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)649.29405.81243.48
Cash Retained (M)566.39566.39566.39
(-) Cash Required (M)-649.29-405.81-243.48
(=) Excess Retained (M)-82.90160.58322.91
(/) Shares Outstanding (M)661.41661.41661.41
(=) Excess Retained per Share-0.130.240.49
LTM Dividend per Share4.054.054.05
(+) Excess Retained per Share-0.130.240.49
(=) Adjusted Dividend3.934.294.54
WACC / Discount Rate6.26%6.26%6.26%
Growth Rate5.50%6.50%7.50%
Fair Value$544.29$914.80$976.15
Upside / Downside3,206.75%5,457.70%5,830.45%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,246.473,457.493,682.223,921.574,176.474,447.944,581.38
Payout Ratio82.55%84.04%85.53%87.02%88.51%90.00%92.50%
Projected Dividends (M)2,680.082,905.773,149.493,412.603,696.624,003.154,237.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.26%6.26%6.26%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)2,708.882,734.562,760.23
Year 2 PV (M)2,737.142,789.272,841.90
Year 3 PV (M)2,764.852,844.222,925.09
Year 4 PV (M)2,792.022,899.403,009.84
Year 5 PV (M)2,818.672,954.813,096.16
PV of Terminal Value (M)91,498.6495,918.05100,506.61
Equity Value (M)105,320.20110,140.31115,139.84
Shares Outstanding (M)661.41661.41661.41
Fair Value$159.23$166.52$174.08
Upside / Downside867.41%911.68%957.60%

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