Definitive Analysis
| Stable Growth | $166.67 - $762.78 | $379.32 |
| Multi-Stage | $86.47 - $94.62 | $90.47 |
| Blended Fair Value | $234.89 | |
| Current Price | $36.77 | |
| Upside | 538.82% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.45% | 0.00% | 0.83 | 0.80 | 0.61 | 0.60 | 0.56 | 0.48 | 0.29 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | 2.99% | 30.88% | 2.44% | 6.72% | 16.67% | 63.53% | 0.00% | 0.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 2.75% | 3.52% | 3.64% | 2.66% | 3.18% | 3.37% | 1.70% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 24.92 |
| (-) Cash Dividends Paid (M) | 5.70 |
| (=) Cash Retained (M) | 19.22 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4.98 | 3.12 | 1.87 |
| Cash Retained (M) | 19.22 | 19.22 | 19.22 |
| (-) Cash Required (M) | -4.98 | -3.12 | -1.87 |
| (=) Excess Retained (M) | 14.24 | 16.11 | 17.35 |
| (/) Shares Outstanding (M) | 6.50 | 6.50 | 6.50 |
| (=) Excess Retained per Share | 2.19 | 2.48 | 2.67 |
| LTM Dividend per Share | 0.88 | 0.88 | 0.88 |
| (+) Excess Retained per Share | 2.19 | 2.48 | 2.67 |
| (=) Adjusted Dividend | 3.07 | 3.36 | 3.55 |
| WACC / Discount Rate | 7.44% | 7.44% | 7.44% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $166.67 | $379.32 | $762.78 |
| Upside / Downside | 353.28% | 931.60% | 1,974.47% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 24.92 | 26.54 | 28.27 | 30.11 | 32.06 | 34.15 | 35.17 |
| Payout Ratio | 22.87% | 36.30% | 49.72% | 63.15% | 76.57% | 90.00% | 92.50% |
| Projected Dividends (M) | 5.70 | 9.63 | 14.06 | 19.01 | 24.55 | 30.73 | 32.53 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.44% | 7.44% | 7.44% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8.88 | 8.97 | 9.05 |
| Year 2 PV (M) | 11.95 | 12.18 | 12.41 |
| Year 3 PV (M) | 14.90 | 15.33 | 15.76 |
| Year 4 PV (M) | 17.74 | 18.42 | 19.13 |
| Year 5 PV (M) | 20.48 | 21.47 | 22.49 |
| PV of Terminal Value (M) | 487.95 | 511.52 | 535.99 |
| Equity Value (M) | 561.90 | 587.88 | 614.83 |
| Shares Outstanding (M) | 6.50 | 6.50 | 6.50 |
| Fair Value | $86.47 | $90.47 | $94.62 |
| Upside / Downside | 135.16% | 146.04% | 157.32% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| EMTK.JK | PT Elang Mahkota Teknologi Tbk | 3.98% | $43.78 | 48.47% |
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| 3217.TWO | Argosy Research Inc. | 3.97% | $6.40 | 54.14% |
| 5434.TW | Topco Scientific Co.,Ltd. | 3.97% | $11.76 | 59.09% |
| ALTXC.PA | TXCOM Group | 3.97% | $0.30 | 35.01% |
| MND.AX | Monadelphous Group Limited | 3.97% | $1.05 | 72.16% |
| MXI.AX | MaxiPARTS Limited | 3.97% | $0.09 | 46.30% |
| 027410.KS | BGF Co., Ltd. | 3.96% | $152.83 | 25.29% |
| CNT.BK | Christiani & Nielsen (Thai) Public Company Limited | 3.96% | $0.04 | 56.47% |
| UCID.JK | PT Uni-Charm Indonesia Tbk | 3.96% | $16.86 | 78.76% |
| 002758.SZ | ZJAMP Group Co., Ltd. | 3.95% | $0.40 | 46.30% |
| 4065.KL | PPB Group Berhad | 3.95% | $0.42 | 72.75% |
| 600585.SS | Anhui Conch Cement Company Limited | 3.95% | $0.86 | 51.83% |
| 8464.TW | Nien Made Enterprise Co., Ltd. | 3.95% | $14.49 | 64.65% |
| BRFS3.SA | BRF S.A. | 3.95% | $0.71 | 31.92% |
| F34.SI | Wilmar International Limited | 3.95% | $0.12 | 63.66% |
| 000848.SZ | Cheng De Lolo Company Limited | 3.94% | $0.33 | 55.15% |
| 6412.T | Heiwa Corporation | 3.94% | $80.00 | 63.34% |
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| NDT.MI | Neodecortech S.p.A. | 3.94% | $0.15 | 28.43% |
| TCSG.ME | TCS Group Holding PLC | 3.94% | $129.27 | 21.76% |
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| 282330.KS | BGF retail Co. Ltd. | 3.93% | $4,100.00 | 37.49% |
| 4953.TWO | WITS Corp. | 3.93% | $4.91 | 84.65% |
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| 601789.SS | Ningbo Construction Co., Ltd. | 3.93% | $0.20 | 78.65% |
| EMA | Emera Incorporated | 3.93% | $1.93 | 49.45% |
| TSPC.JK | PT Tempo Scan Pacific Tbk | 3.93% | $111.90 | 33.61% |
| TTALO.HE | Terveystalo Oyj | 3.93% | $0.38 | 55.32% |
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