Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Multipolar Technology Tbk (MLPT.JK)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$11,857.98 - $33,447.38$31,345.09
Multi-Stage$4,700.34 - $5,141.09$4,916.68
Blended Fair Value$18,130.89
Current Price$147,000.00
Upside-87.67%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS38.55%67.08%217.00181.00290.00115.00133.0042.5030.0031.507.004.57
YoY Growth--19.89%-37.59%152.17%-13.53%212.94%41.67%-4.76%350.00%53.27%256.87%
Dividend Yield--0.53%11.95%14.80%3.38%11.42%12.43%2.12%5.58%0.54%0.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)315,343.00
(-) Cash Dividends Paid (M)161,250.00
(=) Cash Retained (M)154,093.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)63,068.6039,417.8823,650.73
Cash Retained (M)154,093.00154,093.00154,093.00
(-) Cash Required (M)-63,068.60-39,417.88-23,650.73
(=) Excess Retained (M)91,024.40114,675.13130,442.28
(/) Shares Outstanding (M)1,875.001,875.001,875.00
(=) Excess Retained per Share48.5561.1669.57
LTM Dividend per Share86.0086.0086.00
(+) Excess Retained per Share48.5561.1669.57
(=) Adjusted Dividend134.55147.16155.57
WACC / Discount Rate6.70%6.70%6.70%
Growth Rate5.50%6.50%7.50%
Fair Value$11,857.98$31,345.09$33,447.38
Upside / Downside-91.93%-78.68%-77.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)315,343.00335,840.30357,669.91380,918.46405,678.16432,047.24445,008.66
Payout Ratio51.13%58.91%66.68%74.45%82.23%90.00%92.50%
Projected Dividends (M)161,250.00197,836.25238,497.44283,608.72333,576.81388,842.51411,633.01

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.70%6.70%6.70%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)183,677.64185,418.67187,159.69
Year 2 PV (M)205,581.75209,497.51213,450.20
Year 3 PV (M)226,971.25233,486.78240,125.82
Year 4 PV (M)247,854.92257,386.73267,190.84
Year 5 PV (M)268,241.43281,197.60294,649.62
PV of Terminal Value (M)7,680,801.318,051,786.888,436,970.95
Equity Value (M)8,813,128.329,218,774.169,639,547.13
Shares Outstanding (M)1,875.001,875.001,875.00
Fair Value$4,700.34$4,916.68$5,141.09
Upside / Downside-96.80%-96.66%-96.50%

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