Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Christiani & Nielsen (Thai) Public Company Limited (CNT.BK)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$0.45 - $0.64$0.54
Multi-Stage$1.28 - $1.41$1.35
Blended Fair Value$0.95
Current Price$1.11
Upside-14.86%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.050.040.000.050.110.050.00
YoY Growth--0.00%0.00%-100.00%25.00%0.00%-100.00%-55.18%123.61%0.00%-100.00%
Dividend Yield--0.00%0.00%0.00%2.82%2.41%0.00%2.44%4.20%1.16%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)72.82
(-) Cash Dividends Paid (M)41.12
(=) Cash Retained (M)31.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14.569.105.46
Cash Retained (M)31.7031.7031.70
(-) Cash Required (M)-14.56-9.10-5.46
(=) Excess Retained (M)17.1422.6026.24
(/) Shares Outstanding (M)1,027.901,027.901,027.90
(=) Excess Retained per Share0.020.020.03
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.020.020.03
(=) Adjusted Dividend0.060.060.07
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-5.46%-4.46%-3.46%
Fair Value$0.45$0.54$0.64
Upside / Downside-59.37%-50.97%-42.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)72.8269.5766.4663.5060.6757.9659.70
Payout Ratio56.47%63.17%69.88%76.59%83.29%90.00%92.50%
Projected Dividends (M)41.1243.9546.4548.6350.5352.1655.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate-5.46%-4.46%-3.46%
Year 1 PV (M)40.8641.3041.73
Year 2 PV (M)40.1641.0141.87
Year 3 PV (M)39.1040.3541.63
Year 4 PV (M)37.7739.4041.07
Year 5 PV (M)36.2638.2240.26
PV of Terminal Value (M)1,122.431,183.071,246.29
Equity Value (M)1,316.591,383.341,452.86
Shares Outstanding (M)1,027.901,027.901,027.90
Fair Value$1.28$1.35$1.41
Upside / Downside15.39%21.24%27.34%

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