Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PJSC TNS energo Kuban (KBSB.ME)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$1,037.94 - $2,502.50$1,539.77
Multi-Stage$1,142.23 - $1,252.08$1,196.13
Blended Fair Value$1,367.95
Current Price$539.00
Upside153.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.65%0.00%14.8617.990.000.053.9813.694.260.000.000.00
YoY Growth---17.42%8,035,825.00%-99.53%-98.81%-70.94%221.44%0.00%0.00%0.00%0.00%
Dividend Yield--3.60%3.75%0.00%0.03%3.10%10.37%3.23%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)880.64
(-) Cash Dividends Paid (M)321.44
(=) Cash Retained (M)559.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)176.13110.0866.05
Cash Retained (M)559.21559.21559.21
(-) Cash Required (M)-176.13-110.08-66.05
(=) Excess Retained (M)383.08449.12493.16
(/) Shares Outstanding (M)17.8717.8717.87
(=) Excess Retained per Share21.4425.1327.60
LTM Dividend per Share17.9917.9917.99
(+) Excess Retained per Share21.4425.1327.60
(=) Adjusted Dividend39.4343.1245.59
WACC / Discount Rate6.93%6.93%6.93%
Growth Rate3.01%4.01%5.01%
Fair Value$1,037.94$1,539.77$2,502.50
Upside / Downside92.57%185.67%364.29%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)880.64915.98952.74990.971,030.741,072.101,104.26
Payout Ratio36.50%47.20%57.90%68.60%79.30%90.00%92.50%
Projected Dividends (M)321.44432.35551.64679.81817.37964.891,021.44

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.93%6.93%6.93%
Growth Rate3.01%4.01%5.01%
Year 1 PV (M)400.45404.34408.23
Year 2 PV (M)473.26482.49491.81
Year 3 PV (M)540.20556.08572.27
Year 4 PV (M)601.60625.30649.70
Year 5 PV (M)657.79690.34724.17
PV of Terminal Value (M)17,737.4118,615.2219,527.45
Equity Value (M)20,410.7121,373.7822,373.63
Shares Outstanding (M)17.8717.8717.87
Fair Value$1,142.23$1,196.13$1,252.08
Upside / Downside111.92%121.92%132.30%

High-Yield Dividend Screener

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