Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Acter Group Corporation Limited (5536.TWO)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$2,119.88 - $4,596.49$4,307.58
Multi-Stage$698.48 - $764.31$730.79
Blended Fair Value$2,519.19
Current Price$397.50
Upside533.76%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.89%10.94%10.4711.376.905.516.536.534.923.042.280.75
YoY Growth---7.97%64.80%25.18%-15.57%-0.03%32.64%62.21%33.05%204.63%-79.79%
Dividend Yield--2.97%5.77%5.00%5.38%6.51%7.57%5.40%3.13%4.06%2.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,877.19
(-) Cash Dividends Paid (M)1,364.89
(=) Cash Retained (M)1,512.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)575.44359.65215.79
Cash Retained (M)1,512.301,512.301,512.30
(-) Cash Required (M)-575.44-359.65-215.79
(=) Excess Retained (M)936.861,152.651,296.51
(/) Shares Outstanding (M)124.49124.49124.49
(=) Excess Retained per Share7.539.2610.41
LTM Dividend per Share10.9610.9610.96
(+) Excess Retained per Share7.539.2610.41
(=) Adjusted Dividend18.4920.2221.38
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Fair Value$2,119.88$4,307.58$4,596.49
Upside / Downside433.30%983.67%1,056.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,877.193,064.213,263.383,475.503,701.413,942.004,060.26
Payout Ratio47.44%55.95%64.46%72.98%81.49%90.00%92.50%
Projected Dividends (M)1,364.891,714.442,103.672,536.263,016.193,547.803,755.74

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,595.891,611.011,626.14
Year 2 PV (M)1,822.791,857.511,892.55
Year 3 PV (M)2,045.642,104.372,164.20
Year 4 PV (M)2,264.512,351.592,441.17
Year 5 PV (M)2,479.442,599.192,723.53
PV of Terminal Value (M)76,743.0880,449.8084,298.39
Equity Value (M)86,951.3490,973.4895,145.99
Shares Outstanding (M)124.49124.49124.49
Fair Value$698.48$730.79$764.31
Upside / Downside75.72%83.85%92.28%

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