Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT PP (Persero) Tbk (PTPP.JK)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$631.16 - $1,083.19$826.60
Multi-Stage$3,814.16 - $4,234.75$4,020.04
Blended Fair Value$2,423.32
Current Price$438.00
Upside453.27%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-42.73%-17.46%2.990.000.000.0033.8448.5746.9949.6428.6117.20
YoY Growth--0.00%0.00%0.00%-100.00%-30.32%3.36%-5.34%73.48%66.34%-15.70%
Dividend Yield--0.98%0.00%0.00%0.00%2.47%8.83%2.18%1.90%0.86%0.47%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)333,901.06
(-) Cash Dividends Paid (M)18,513.14
(=) Cash Retained (M)315,387.92
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)66,780.2141,737.6325,042.58
Cash Retained (M)315,387.92315,387.92315,387.92
(-) Cash Required (M)-66,780.21-41,737.63-25,042.58
(=) Excess Retained (M)248,607.71273,650.29290,345.34
(/) Shares Outstanding (M)6,185.346,185.346,185.34
(=) Excess Retained per Share40.1944.2446.94
LTM Dividend per Share2.992.992.99
(+) Excess Retained per Share40.1944.2446.94
(=) Adjusted Dividend43.1947.2349.93
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate-6.28%-5.28%-4.28%
Fair Value$631.16$826.60$1,083.19
Upside / Downside44.10%88.72%147.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)333,901.06316,260.04299,551.05283,724.84268,734.78254,536.70262,172.80
Payout Ratio5.54%22.44%39.33%56.22%73.11%90.00%92.50%
Projected Dividends (M)18,513.1470,954.84117,803.54159,503.86196,469.04229,083.03242,509.84

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate-6.28%-5.28%-4.28%
Year 1 PV (M)70,115.1670,863.3271,611.48
Year 2 PV (M)115,031.87117,499.86119,994.03
Year 3 PV (M)153,907.92158,887.48163,973.31
Year 4 PV (M)187,332.80195,457.40203,843.44
Year 5 PV (M)215,845.27227,609.50239,881.18
PV of Terminal Value (M)22,849,619.8424,094,994.7225,394,088.61
Equity Value (M)23,591,852.8624,865,312.2826,193,392.06
Shares Outstanding (M)6,185.346,185.346,185.34
Fair Value$3,814.16$4,020.04$4,234.75
Upside / Downside770.81%817.82%866.84%

High-Yield Dividend Screener

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