DDM Analysis: TBIG.JK

Valuation Snapshot

Stable Growth	$4,700.71 - $12,867.00	$12,058.26
Multi-Stage	$1,869.71 - $2,042.71	$1,954.63
Blended Fair Value	$7,006.45
Current Price	$2,300.00
Upside	204.63%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	15.69%	15.76%	55.36	58.57	36.31	30.81	26.96	26.71	33.87	29.60	26.35	0.00
YoY Growth	-	-	-5.48%	61.31%	17.84%	14.29%	0.95%	-21.15%	14.42%	12.33%	0.00%	-100.00%
Dividend Yield	-	-	2.78%	3.14%	1.68%	1.07%	1.30%	2.95%	4.29%	2.65%	2.42%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,453,472.00
(-) Cash Dividends Paid (M)	1,241,463.00
(=) Cash Retained (M)	212,009.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	290,694.40	181,684.00	109,010.40
Cash Retained (M)	212,009.00	212,009.00	212,009.00
(-) Cash Required (M)	-290,694.40	-181,684.00	-109,010.40
(=) Excess Retained (M)	-78,685.40	30,325.00	102,998.60
(/) Shares Outstanding (M)	22,465.16	22,465.16	22,465.16
(=) Excess Retained per Share	-3.50	1.35	4.58
LTM Dividend per Share	55.26	55.26	55.26
(+) Excess Retained per Share	-3.50	1.35	4.58
(=) Adjusted Dividend	51.76	56.61	59.85
WACC / Discount Rate	6.66%	6.66%	6.66%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$4,700.71	$12,058.26	$12,867.00
Upside / Downside	104.38%	424.27%	459.43%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,453,472.00	1,547,947.68	1,648,564.28	1,755,720.96	1,869,842.82	1,991,382.60	2,051,124.08
Payout Ratio	85.41%	86.33%	87.25%	88.17%	89.08%	90.00%	92.50%
Projected Dividends (M)	1,241,463.00	1,336,357.06	1,438,342.16	1,547,939.22	1,665,706.91	1,792,244.34	1,897,289.77

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.66%	6.66%	6.66%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	1,241,129.39	1,252,893.65	1,264,657.91
Year 2 PV (M)	1,240,655.79	1,264,286.80	1,288,140.74
Year 3 PV (M)	1,240,045.29	1,275,642.54	1,311,914.59
Year 4 PV (M)	1,239,300.93	1,286,960.95	1,335,982.58
Year 5 PV (M)	1,238,425.70	1,298,242.13	1,360,347.87
PV of Terminal Value (M)	35,803,822.06	37,533,160.06	39,328,683.89
Equity Value (M)	42,003,379.17	43,911,186.12	45,889,727.57
Shares Outstanding (M)	22,465.16	22,465.16	22,465.16
Fair Value	$1,869.71	$1,954.63	$2,042.71
Upside / Downside	-18.71%	-15.02%	-11.19%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 25 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
MDC	M.D.C. Holdings, Inc.	0.86%	$0.54	55.94%
AXP	American Express Company	0.85%	$3.17	20.85%
FOXA	Fox Corporation	0.85%	$0.62	13.96%
LMST	Limestone Bancorp, Inc.	0.85%	$0.20	8.06%
RCL	Royal Caribbean Cruises Ltd.	0.85%	$2.41	16.19%
AZZ	AZZ Inc.	0.84%	$0.92	8.89%
HIBB	Hibbett, Inc.	0.84%	$0.74	9.00%
MAR	Marriott International, Inc.	0.84%	$2.62	27.38%
MORN	Morningstar, Inc.	0.84%	$1.77	20.03%
SGH	SMART Global Holdings, Inc.	0.84%	$0.14	30.96%
URI	United Rentals, Inc.	0.84%	$7.13	18.10%
0HYJ.L	Cintas Corporation	0.83%	$1.54	34.15%
EFX	Equifax Inc.	0.83%	$1.78	33.46%
GM	General Motors Company	0.82%	$0.66	21.22%
KVSA	Khosla Ventures Acquisition Co.	0.81%	$0.09	9.61%
WMT	Walmart Inc.	0.81%	$0.91	31.92%
BMI	Badger Meter, Inc.	0.80%	$1.41	30.10%
FRD	Friedman Industries, Incorporated	0.80%	$0.16	9.82%
ITT	ITT Inc.	0.80%	$1.40	22.66%
MLI	Mueller Industries, Inc.	0.80%	$0.94	13.89%
SSSSL	SuRo Capital Corp. 6.00% Notes due 2026	0.80%	$0.20	8.46%
RGLD	Royal Gold, Inc.	0.79%	$1.75	24.00%
VRSK	Verisk Analytics, Inc.	0.79%	$1.74	26.41%
COF	Capital One Financial Corporation	0.78%	$1.94	87.57%
EE	Excelerate Energy, Inc.	0.78%	$0.22	9.21%
0K36.L	Moody's Corporation	0.77%	$3.82	30.70%
HCI	HCI Group, Inc.	0.77%	$1.42	9.00%
PH	Parker-Hannifin Corporation	0.77%	$6.85	24.15%
SEI	Solaris Energy Infrastructure, Inc.	0.77%	$0.39	44.96%
0HQN.L	Cboe Global Markets, Inc.	0.76%	$1.90	20.31%
ASIC	Ategrity Specialty Holdings LLC	0.76%	$0.15	12.77%
GL	Globe Life Inc.	0.75%	$1.03	7.35%
0KYY.L	S&P Global Inc.	0.74%	$3.81	28.09%
PHM	PulteGroup, Inc.	0.74%	$0.89	6.67%
ROP	Roper Technologies, Inc.	0.74%	$3.20	22.09%
ZWS	Zurn Elkay Water Solutions Corporation	0.74%	$0.35	30.63%
JOE	The St. Joe Company	0.73%	$0.43	24.05%
TOL	Toll Brothers, Inc.	0.73%	$0.99	7.16%
TTEK	Tetra Tech, Inc.	0.73%	$0.25	26.25%
0HCB.L	Alcoa Corporation	0.72%	$0.40	9.08%
A	Agilent Technologies, Inc.	0.72%	$0.99	21.64%
FCFS	FirstCash Holdings, Inc	0.72%	$1.13	16.40%
TRAK	ReposiTrak, Inc.	0.72%	$0.09	22.94%
BKNG	Booking Holdings Inc.	0.71%	$37.78	24.39%
PGC	Peapack-Gladstone Financial Corporation	0.71%	$0.20	10.22%
ASO	Academy Sports and Outdoors, Inc.	0.70%	$0.37	6.63%
BRO	Brown & Brown, Inc.	0.70%	$0.54	18.02%
INTU	Intuit Inc.	0.70%	$4.39	29.97%
MSFT	Microsoft Corporation	0.70%	$3.31	23.52%
NCR	NCR Corporation	0.70%	$0.11	1.70%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

PT Tower Bersama Infrastructure Tbk (TBIG.JK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener