Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Xolare RCR Energy Tbk. (SOLA.JK)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$56.12 - $83.71$69.25
Multi-Stage$103.91 - $114.46$109.08
Blended Fair Value$89.16
Current Price$140.00
Upside-36.31%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%0.000.001.200.000.000.000.000.000.000.00
YoY Growth--0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%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)21,007.54
(-) Cash Dividends Paid (M)1,970.70
(=) Cash Retained (M)19,036.84
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,201.512,625.941,575.57
Cash Retained (M)19,036.8419,036.8419,036.84
(-) Cash Required (M)-4,201.51-2,625.94-1,575.57
(=) Excess Retained (M)14,835.3316,410.9017,461.28
(/) Shares Outstanding (M)3,065.673,065.673,065.67
(=) Excess Retained per Share4.845.355.70
LTM Dividend per Share0.640.640.64
(+) Excess Retained per Share4.845.355.70
(=) Adjusted Dividend5.486.006.34
WACC / Discount Rate7.57%7.57%7.57%
Growth Rate-2.00%-1.00%0.00%
Fair Value$56.12$69.25$83.71
Upside / Downside-59.91%-50.54%-40.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)21,007.5420,797.4720,589.4920,383.6020,179.7619,977.9620,577.30
Payout Ratio9.38%25.50%41.63%57.75%73.88%90.00%92.50%
Projected Dividends (M)1,970.705,304.348,571.1111,772.0114,908.0417,980.1719,034.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.57%7.57%7.57%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4,881.144,930.954,980.76
Year 2 PV (M)7,258.017,406.897,557.28
Year 3 PV (M)9,173.229,456.909,746.38
Year 4 PV (M)10,690.1011,133.1511,589.84
Year 5 PV (M)11,864.3912,482.1913,125.47
PV of Terminal Value (M)274,691.16288,994.97303,888.53
Equity Value (M)318,558.02334,405.06350,888.26
Shares Outstanding (M)3,065.673,065.673,065.67
Fair Value$103.91$109.08$114.46
Upside / Downside-25.78%-22.09%-18.24%

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