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PT Tera Data Indonusa Tbk (AXIO.JK)

Company Dividend Discount ModelIndustry: Computer HardwareSector: Technology

Valuation Snapshot

Stable Growth$84.69 - $128.45$105.26
Multi-Stage$181.69 - $199.49$190.42
Blended Fair Value$147.84
Current Price$131.00
Upside12.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%13.0015.000.000.000.000.000.000.000.000.00
YoY Growth---13.33%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--12.26%7.43%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)56,817.01
(-) Cash Dividends Paid (M)46,721.01
(=) Cash Retained (M)10,096.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11,363.407,102.134,261.28
Cash Retained (M)10,096.0010,096.0010,096.00
(-) Cash Required (M)-11,363.40-7,102.13-4,261.28
(=) Excess Retained (M)-1,267.412,993.875,834.72
(/) Shares Outstanding (M)5,840.135,840.135,840.13
(=) Excess Retained per Share-0.220.511.00
LTM Dividend per Share8.008.008.00
(+) Excess Retained per Share-0.220.511.00
(=) Adjusted Dividend7.788.519.00
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate-2.00%-1.00%0.00%
Fair Value$84.69$105.26$128.45
Upside / Downside-35.35%-19.65%-1.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)56,817.0156,248.8455,686.3555,129.4954,578.1954,032.4155,653.38
Payout Ratio82.23%83.78%85.34%86.89%88.45%90.00%92.50%
Projected Dividends (M)46,721.0147,127.8347,521.8447,903.2648,272.3048,629.1751,479.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.01%7.01%7.01%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)43,597.3144,042.1844,487.05
Year 2 PV (M)40,668.4641,502.6642,345.33
Year 3 PV (M)37,923.7939,096.6140,293.36
Year 4 PV (M)35,353.0436,818.2638,328.56
Year 5 PV (M)32,946.3934,661.9936,448.32
PV of Terminal Value (M)870,600.22915,934.40963,137.73
Equity Value (M)1,061,089.211,112,056.091,165,040.34
Shares Outstanding (M)5,840.135,840.135,840.13
Fair Value$181.69$190.42$199.49
Upside / Downside38.69%45.36%52.28%

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