Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Aksa Enerji Üretim A.S. (AKSEN.IS)

Company Dividend Discount ModelIndustry: Renewable UtilitiesSector: Utilities

Valuation Snapshot

Stable Growth$33.79 - $78.62$49.54
Multi-Stage$23.52 - $25.72$24.60
Blended Fair Value$37.07
Current Price$37.28
Upside-0.57%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1.511.170.570.000.000.000.000.000.000.00
YoY Growth--29.41%104.24%0.00%0.00%0.00%0.00%0.00%0.00%-100.00%0.00%
Dividend Yield--4.39%3.42%2.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,987.97
(-) Cash Dividends Paid (M)109.01
(=) Cash Retained (M)1,878.96
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)397.59248.50149.10
Cash Retained (M)1,878.961,878.961,878.96
(-) Cash Required (M)-397.59-248.50-149.10
(=) Excess Retained (M)1,481.371,630.461,729.86
(/) Shares Outstanding (M)1,225.391,225.391,225.39
(=) Excess Retained per Share1.211.331.41
LTM Dividend per Share0.090.090.09
(+) Excess Retained per Share1.211.331.41
(=) Adjusted Dividend1.301.421.50
WACC / Discount Rate9.55%9.55%9.55%
Growth Rate5.50%6.50%7.50%
Fair Value$33.79$49.54$78.62
Upside / Downside-9.36%32.87%110.88%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,987.972,117.192,254.802,401.372,557.452,723.692,805.40
Payout Ratio5.48%22.39%39.29%56.19%73.10%90.00%92.50%
Projected Dividends (M)109.01473.97885.911,349.411,869.412,451.322,594.99

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.55%9.55%9.55%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)428.58432.64436.71
Year 2 PV (M)724.36738.16752.09
Year 3 PV (M)997.681,026.321,055.50
Year 4 PV (M)1,249.791,297.851,347.29
Year 5 PV (M)1,481.881,553.461,627.77
PV of Terminal Value (M)23,942.9425,099.4026,300.11
Equity Value (M)28,825.2430,147.8331,519.46
Shares Outstanding (M)1,225.391,225.391,225.39
Fair Value$23.52$24.60$25.72
Upside / Downside-36.90%-34.01%-31.00%

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