Definitive Analysis
Definitive Analysis

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Limak Dogu Anadolu Cimento Sny Ve Tcr AS (LMKDC.IS)

Company Dividend Discount ModelIndustry: Construction MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$36.84 - $57.23$46.27
Multi-Stage$84.44 - $93.04$88.65
Blended Fair Value$67.46
Current Price$26.98
Upside150.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth---100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.01%0.00%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)2,016.45
(-) Cash Dividends Paid (M)562.54
(=) Cash Retained (M)1,453.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)403.29252.06151.23
Cash Retained (M)1,453.911,453.911,453.91
(-) Cash Required (M)-403.29-252.06-151.23
(=) Excess Retained (M)1,050.621,201.861,302.68
(/) Shares Outstanding (M)516.03516.03516.03
(=) Excess Retained per Share2.042.332.52
LTM Dividend per Share1.091.091.09
(+) Excess Retained per Share2.042.332.52
(=) Adjusted Dividend3.133.423.61
WACC / Discount Rate6.32%6.32%6.32%
Growth Rate-2.00%-1.00%0.00%
Fair Value$36.84$46.27$57.23
Upside / Downside36.54%71.48%112.11%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,016.451,996.291,976.321,956.561,936.991,917.621,975.15
Payout Ratio27.90%40.32%52.74%65.16%77.58%90.00%92.50%
Projected Dividends (M)562.54804.861,042.281,274.871,502.711,725.861,827.02

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.32%6.32%6.32%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)749.40757.04764.69
Year 2 PV (M)903.58922.12940.84
Year 3 PV (M)1,029.061,060.881,093.36
Year 4 PV (M)1,129.381,176.191,224.43
Year 5 PV (M)1,207.711,270.601,336.08
PV of Terminal Value (M)38,552.1140,559.6042,649.87
Equity Value (M)43,571.2345,746.4348,009.27
Shares Outstanding (M)516.03516.03516.03
Fair Value$84.44$88.65$93.04
Upside / Downside212.96%228.58%244.83%

High-Yield Dividend Screener

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