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PT Ateliers Mecaniques D'Indonesie Tbk (AMIN.JK)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$170.31 - $262.38$213.13
Multi-Stage$387.86 - $426.44$406.77
Blended Fair Value$309.95
Current Price$190.00
Upside63.13%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-8.97%0.00%5.000.000.000.000.008.008.008.008.008.40
YoY Growth--0.00%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%-4.79%0.00%
Dividend Yield--3.50%0.00%0.00%0.00%0.00%2.00%1.85%1.79%2.38%7.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)20,039.29
(-) Cash Dividends Paid (M)14,040.00
(=) Cash Retained (M)5,999.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,007.862,504.911,502.95
Cash Retained (M)5,999.295,999.295,999.29
(-) Cash Required (M)-4,007.86-2,504.91-1,502.95
(=) Excess Retained (M)1,991.433,494.384,496.34
(/) Shares Outstanding (M)1,080.061,080.061,080.06
(=) Excess Retained per Share1.843.244.16
LTM Dividend per Share13.0013.0013.00
(+) Excess Retained per Share1.843.244.16
(=) Adjusted Dividend14.8416.2317.16
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate-2.00%-1.00%0.00%
Fair Value$170.31$213.13$262.38
Upside / Downside-10.36%12.17%38.09%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)20,039.2919,838.8919,640.5119,444.1019,249.6619,057.1619,628.88
Payout Ratio70.06%74.05%78.04%82.02%86.01%90.00%92.50%
Projected Dividends (M)14,040.0014,690.6815,326.9415,949.0116,557.1117,151.4518,156.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)13,649.4613,788.7413,928.02
Year 2 PV (M)13,231.3113,502.7113,776.87
Year 3 PV (M)12,792.4813,188.1013,591.78
Year 4 PV (M)12,338.9712,850.3713,377.49
Year 5 PV (M)11,875.9612,494.3713,138.28
PV of Terminal Value (M)355,029.86373,517.09392,766.56
Equity Value (M)418,918.05439,341.38460,579.01
Shares Outstanding (M)1,080.061,080.061,080.06
Fair Value$387.86$406.77$426.44
Upside / Downside104.14%114.09%124.44%

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