Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

UOL Group Limited (U14.SI)

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

Valuation Snapshot

Stable Growth$26.99 - $62.56$39.52
Multi-Stage$36.83 - $40.45$38.61
Blended Fair Value$39.06
Current Price$6.18
Upside532.09%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.75%11.45%0.200.180.150.150.170.170.170.090.080.07
YoY Growth--11.12%20.05%0.03%-14.22%0.06%0.08%104.90%11.93%4.49%7.67%
Dividend Yield--3.88%2.92%2.23%2.11%2.27%2.10%2.82%0.95%1.27%1.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,136.39
(-) Cash Dividends Paid (M)321.08
(=) Cash Retained (M)815.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)227.28142.0585.23
Cash Retained (M)815.32815.32815.32
(-) Cash Required (M)-227.28-142.05-85.23
(=) Excess Retained (M)588.04673.27730.09
(/) Shares Outstanding (M)845.00845.00845.00
(=) Excess Retained per Share0.700.800.86
LTM Dividend per Share0.380.380.38
(+) Excess Retained per Share0.700.800.86
(=) Adjusted Dividend1.081.181.24
WACC / Discount Rate6.20%6.20%6.20%
Growth Rate2.12%3.12%4.12%
Fair Value$26.99$39.52$62.56
Upside / Downside336.77%539.49%912.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,136.391,171.901,208.531,246.291,285.241,325.401,365.16
Payout Ratio28.25%40.60%52.95%65.30%77.65%90.00%92.50%
Projected Dividends (M)321.08475.83639.94813.85998.001,192.861,262.78

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.20%6.20%6.20%
Growth Rate2.12%3.12%4.12%
Year 1 PV (M)443.72448.07452.41
Year 2 PV (M)556.50567.45578.51
Year 3 PV (M)659.98679.55699.52
Year 4 PV (M)754.70784.70815.58
Year 5 PV (M)841.20883.20926.86
PV of Terminal Value (M)27,867.0329,258.3730,704.74
Equity Value (M)31,123.1332,621.3534,177.62
Shares Outstanding (M)845.00845.00845.00
Fair Value$36.83$38.61$40.45
Upside / Downside495.99%524.68%554.48%

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