Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

MKH Berhad (6114.KL)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$0.97 - $1.39$1.17
Multi-Stage$1.52 - $1.67$1.59
Blended Fair Value$1.38
Current Price$1.03
Upside34.41%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS2.65%0.00%0.040.040.030.030.040.030.000.000.000.00
YoY Growth--0.00%14.29%16.67%-25.21%14.27%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.53%2.77%2.93%0.00%0.00%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)78.20
(-) Cash Dividends Paid (M)0.00
(=) Cash Retained (M)78.19
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.649.775.86
Cash Retained (M)78.1978.1978.19
(-) Cash Required (M)-15.64-9.77-5.86
(=) Excess Retained (M)62.5568.4272.33
(/) Shares Outstanding (M)579.57579.57579.57
(=) Excess Retained per Share0.110.120.12
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.110.120.12
(=) Adjusted Dividend0.110.120.12
WACC / Discount Rate8.96%8.96%8.96%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.97$1.17$1.39
Upside / Downside-6.27%13.97%35.29%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)78.2077.4176.6475.8775.1174.3676.59
Payout Ratio0.00%18.00%36.00%54.00%72.00%90.00%92.50%
Projected Dividends (M)0.0013.9427.5940.9754.0866.9370.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.96%8.96%8.96%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)12.6612.7912.92
Year 2 PV (M)22.7723.2423.71
Year 3 PV (M)30.7331.6832.65
Year 4 PV (M)36.8538.3839.95
Year 5 PV (M)41.4343.5945.83
PV of Terminal Value (M)736.33774.67814.60
Equity Value (M)880.77924.34969.66
Shares Outstanding (M)579.57579.57579.57
Fair Value$1.52$1.59$1.67
Upside / Downside47.54%54.84%62.43%

High-Yield Dividend Screener

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