Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Riyadh Cables Group Company (4142.SR)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$172.19 - $473.62$266.20
Multi-Stage$119.97 - $130.91$125.34
Blended Fair Value$195.77
Current Price$127.00
Upside54.15%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS14.33%0.00%3.002.501.561.311.191.541.960.000.000.00
YoY Growth--19.78%60.70%18.97%9.84%-22.34%-21.70%0.00%0.00%0.00%0.00%
Dividend Yield--2.34%2.54%2.95%3.46%3.15%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)1,069.30
(-) Cash Dividends Paid (M)524.13
(=) Cash Retained (M)545.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)213.86133.6680.20
Cash Retained (M)545.17545.17545.17
(-) Cash Required (M)-213.86-133.66-80.20
(=) Excess Retained (M)331.31411.51464.97
(/) Shares Outstanding (M)149.82149.82149.82
(=) Excess Retained per Share2.212.753.10
LTM Dividend per Share3.503.503.50
(+) Excess Retained per Share2.212.753.10
(=) Adjusted Dividend5.716.256.60
WACC / Discount Rate9.00%9.00%9.00%
Growth Rate5.50%6.50%7.50%
Fair Value$172.19$266.20$473.62
Upside / Downside35.58%109.61%272.93%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,069.301,138.811,212.831,291.661,375.621,465.041,508.99
Payout Ratio49.02%57.21%65.41%73.61%81.80%90.00%92.50%
Projected Dividends (M)524.13651.55793.31950.751,125.301,318.531,395.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.00%9.00%9.00%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)592.14597.76603.37
Year 2 PV (M)655.25667.73680.33
Year 3 PV (M)713.69734.18755.06
Year 4 PV (M)767.71797.24827.60
Year 5 PV (M)817.53857.01898.01
PV of Terminal Value (M)14,427.6515,124.5115,848.04
Equity Value (M)17,973.9818,778.4319,612.42
Shares Outstanding (M)149.82149.82149.82
Fair Value$119.97$125.34$130.91
Upside / Downside-5.53%-1.31%3.08%

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