Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Toba Surimi Industries Tbk (CRAB.JK)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$101.04 - $143.49$121.96
Multi-Stage$151.00 - $165.93$158.32
Blended Fair Value$140.14
Current Price$246.00
Upside-43.03%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%2.001.000.000.000.000.000.000.000.000.00
YoY Growth--100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.75%0.37%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)29,707.38
(-) Cash Dividends Paid (M)3,900.00
(=) Cash Retained (M)25,807.38
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5,941.483,713.422,228.05
Cash Retained (M)25,807.3825,807.3825,807.38
(-) Cash Required (M)-5,941.48-3,713.42-2,228.05
(=) Excess Retained (M)19,865.9122,093.9623,579.33
(/) Shares Outstanding (M)1,950.001,950.001,950.00
(=) Excess Retained per Share10.1911.3312.09
LTM Dividend per Share2.002.002.00
(+) Excess Retained per Share10.1911.3312.09
(=) Adjusted Dividend12.1913.3314.09
WACC / Discount Rate9.82%9.82%9.82%
Growth Rate-2.00%-1.00%0.00%
Fair Value$101.04$121.96$143.49
Upside / Downside-58.93%-50.42%-41.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)29,707.3829,410.3129,116.2128,825.0528,536.7928,251.4329,098.97
Payout Ratio13.13%28.50%43.88%59.25%74.63%90.00%92.50%
Projected Dividends (M)3,900.008,382.6612,775.2717,079.1921,295.7625,426.2826,916.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.82%9.82%9.82%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)7,555.947,633.047,710.15
Year 2 PV (M)10,379.6810,592.6010,807.67
Year 3 PV (M)12,508.0212,894.8313,289.55
Year 4 PV (M)14,057.9314,640.5615,241.12
Year 5 PV (M)15,129.2815,917.0916,737.39
PV of Terminal Value (M)234,818.15247,045.67259,777.35
Equity Value (M)294,448.99308,723.80323,563.22
Shares Outstanding (M)1,950.001,950.001,950.00
Fair Value$151.00$158.32$165.93
Upside / Downside-38.62%-35.64%-32.55%

High-Yield Dividend Screener

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