Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Makkah Construction & Development Company (4100.SR)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$395.13 - $465.55$436.28
Multi-Stage$298.01 - $327.02$312.24
Blended Fair Value$374.26
Current Price$92.00
Upside306.81%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222022202120202019201820172016
DPS-5.11%-5.06%1.280.850.000.001.221.661.700.002.112.14
YoY Growth--51.23%0.00%0.00%-100.00%-26.71%-2.28%0.00%-100.00%-1.45%-0.52%
Dividend Yield--1.18%1.00%0.00%0.00%2.34%3.24%2.67%0.00%2.30%2.92%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)448.99
(-) Cash Dividends Paid (M)296.54
(=) Cash Retained (M)152.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)89.8056.1233.67
Cash Retained (M)152.45152.45152.45
(-) Cash Required (M)-89.80-56.12-33.67
(=) Excess Retained (M)62.6596.33118.78
(/) Shares Outstanding (M)191.37191.37191.37
(=) Excess Retained per Share0.330.500.62
LTM Dividend per Share1.551.551.55
(+) Excess Retained per Share0.330.500.62
(=) Adjusted Dividend1.882.052.17
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate5.26%6.26%7.26%
Fair Value$395.13$436.28$465.55
Upside / Downside329.49%374.22%406.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)448.99477.09506.94538.67572.37608.19626.44
Payout Ratio66.05%70.84%75.63%80.42%85.21%90.00%92.50%
Projected Dividends (M)296.54337.95383.39433.19487.72547.37579.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.13%0.13%0.13%
Growth Rate5.26%6.26%7.26%
Year 1 PV (M)334.34337.52340.69
Year 2 PV (M)375.24382.40389.63
Year 3 PV (M)419.44431.51443.81
Year 4 PV (M)467.20485.20503.73
Year 5 PV (M)518.74543.85569.93
PV of Terminal Value (M)54,914.2257,572.8260,333.40
Equity Value (M)57,029.1759,753.3062,581.19
Shares Outstanding (M)191.37191.37191.37
Fair Value$298.01$312.24$327.02
Upside / Downside223.92%239.40%255.46%

High-Yield Dividend Screener

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