Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

FIZIKA Scientific and Production Association Open Joint-Stock Company (NPOF.ME)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$24,961.48 - $42,819.46$32,680.45
Multi-Stage$39,520.97 - $43,476.43$41,460.52
Blended Fair Value$37,070.48
Current Price$11,850.00
Upside212.83%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2021202020192018201720162015201420122011
DPS130.07%0.00%935.6224.4038.7044.1518.1514.5118.5625.850.000.00
YoY Growth--3,735.20%-36.96%-12.35%143.28%25.04%-21.79%-28.20%0.00%0.00%0.00%
Dividend Yield--7.90%0.21%0.33%0.37%0.15%0.12%0.16%0.22%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)179.22
(-) Cash Dividends Paid (M)3.40
(=) Cash Retained (M)175.82
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)35.8422.4013.44
Cash Retained (M)175.82175.82175.82
(-) Cash Required (M)-35.84-22.40-13.44
(=) Excess Retained (M)139.98153.42162.38
(/) Shares Outstanding (M)0.090.090.09
(=) Excess Retained per Share1,550.791,699.711,798.99
LTM Dividend per Share37.6537.6537.65
(+) Excess Retained per Share1,550.791,699.711,798.99
(=) Adjusted Dividend1,588.441,737.361,836.64
WACC / Discount Rate6.95%6.95%6.95%
Growth Rate0.55%1.55%2.55%
Fair Value$24,961.48$32,680.45$42,819.46
Upside / Downside110.65%175.78%261.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)179.22182.00184.83187.70190.61193.57199.38
Payout Ratio1.90%19.52%37.14%54.76%72.38%90.00%92.50%
Projected Dividends (M)3.4035.5268.64102.78137.97174.22184.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.95%6.95%6.95%
Growth Rate0.55%1.55%2.55%
Year 1 PV (M)32.8933.2133.54
Year 2 PV (M)58.8360.0161.20
Year 3 PV (M)81.5684.0186.52
Year 4 PV (M)101.35105.44109.66
Year 5 PV (M)118.49124.50130.75
PV of Terminal Value (M)3,174.133,335.143,502.61
Equity Value (M)3,567.243,742.313,924.27
Shares Outstanding (M)0.090.090.09
Fair Value$39,520.97$41,460.52$43,476.43
Upside / Downside233.51%249.88%266.89%

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