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PT Colorpak Indonesia Tbk (CLPI.JK)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$3,023.04 - $5,484.72$4,047.72
Multi-Stage$5,165.70 - $5,668.81$5,412.45
Blended Fair Value$4,730.09
Current Price$1,280.00
Upside269.54%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS18.41%18.61%128.2861.4071.2389.4256.5755.1163.89102.9039.4163.03
YoY Growth--108.92%-13.79%-20.34%58.07%2.65%-13.75%-37.90%161.12%-37.48%170.66%
Dividend Yield--12.22%6.11%7.54%8.60%6.94%11.43%9.33%11.06%3.57%7.50%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)65,613.27
(-) Cash Dividends Paid (M)42,648.26
(=) Cash Retained (M)22,965.01
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13,122.658,201.664,921.00
Cash Retained (M)22,965.0122,965.0122,965.01
(-) Cash Required (M)-13,122.65-8,201.66-4,921.00
(=) Excess Retained (M)9,842.3514,763.3518,044.01
(/) Shares Outstanding (M)306.26306.26306.26
(=) Excess Retained per Share32.1448.2058.92
LTM Dividend per Share139.25139.25139.25
(+) Excess Retained per Share32.1448.2058.92
(=) Adjusted Dividend171.39187.46198.17
WACC / Discount Rate6.49%6.49%6.49%
Growth Rate0.77%1.77%2.77%
Fair Value$3,023.04$4,047.72$5,484.72
Upside / Downside136.17%216.23%328.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)65,613.2766,777.4167,962.2069,168.0270,395.2371,644.2173,793.53
Payout Ratio65.00%70.00%75.00%80.00%85.00%90.00%92.50%
Projected Dividends (M)42,648.2646,743.8950,971.4355,334.2659,835.8664,479.7968,259.02

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.49%6.49%6.49%
Growth Rate0.77%1.77%2.77%
Year 1 PV (M)43,464.7843,896.0944,327.40
Year 2 PV (M)44,070.9144,949.9045,837.56
Year 3 PV (M)44,486.8845,824.4247,188.50
Year 4 PV (M)44,731.3546,533.4648,389.48
Year 5 PV (M)44,821.5347,089.9649,449.33
PV of Terminal Value (M)1,360,492.511,429,347.541,500,962.59
Equity Value (M)1,582,067.971,657,641.371,736,154.86
Shares Outstanding (M)306.26306.26306.26
Fair Value$5,165.70$5,412.45$5,668.81
Upside / Downside303.57%322.85%342.88%

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