Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Jaya Konstruksi Manggala Pratama Tbk (JKON.JK)

Company Dividend Discount ModelIndustry: ConglomeratesSector: Industrials

Valuation Snapshot

Stable Growth$32.46 - $43.44$38.12
Multi-Stage$45.92 - $50.19$48.02
Blended Fair Value$43.07
Current Price$88.00
Upside-51.06%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.39%0.12%4.253.000.000.032.403.605.806.404.504.30
YoY Growth--41.67%929,336.93%-98.83%-98.85%-33.30%-37.96%-9.37%42.22%4.65%2.38%
Dividend Yield--6.07%3.16%0.00%0.03%1.17%0.87%1.71%1.22%0.75%0.54%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)116,686.85
(-) Cash Dividends Paid (M)53,002.69
(=) Cash Retained (M)63,684.16
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23,337.3714,585.868,751.51
Cash Retained (M)63,684.1663,684.1663,684.16
(-) Cash Required (M)-23,337.37-14,585.86-8,751.51
(=) Excess Retained (M)40,346.7949,098.3154,932.65
(/) Shares Outstanding (M)16,308.5216,308.5216,308.52
(=) Excess Retained per Share2.473.013.37
LTM Dividend per Share3.253.253.25
(+) Excess Retained per Share2.473.013.37
(=) Adjusted Dividend5.726.266.62
WACC / Discount Rate12.99%12.99%12.99%
Growth Rate-3.95%-2.95%-1.95%
Fair Value$32.46$38.12$43.44
Upside / Downside-63.11%-56.68%-50.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)116,686.85113,248.77109,911.98106,673.51103,530.46100,480.02103,494.42
Payout Ratio45.42%54.34%63.25%72.17%81.08%90.00%92.50%
Projected Dividends (M)53,002.6961,537.5869,523.5276,985.4383,947.2690,432.0295,732.34

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate12.99%12.99%12.99%
Growth Rate-3.95%-2.95%-1.95%
Year 1 PV (M)53,900.6954,461.8455,022.99
Year 2 PV (M)53,338.3354,454.7155,582.65
Year 3 PV (M)51,733.2953,365.9355,032.57
Year 4 PV (M)49,410.8051,500.8053,656.40
Year 5 PV (M)46,622.0649,100.0051,682.19
PV of Terminal Value (M)493,935.58520,188.00547,544.98
Equity Value (M)748,940.74783,071.27818,521.78
Shares Outstanding (M)16,308.5216,308.5216,308.52
Fair Value$45.92$48.02$50.19
Upside / Downside-47.81%-45.44%-42.97%

High-Yield Dividend Screener

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