Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Adi Sarana Armada Tbk (ASSA.JK)

Company Dividend Discount ModelIndustry: Rental & Leasing ServicesSector: Industrials

Valuation Snapshot

Stable Growth$17,362.63 - $20,456.12$19,170.38
Multi-Stage$6,472.78 - $7,095.67$6,778.45
Blended Fair Value$12,974.41
Current Price$845.00
Upside1,435.43%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%17.21%40.531.270.000.000.000.0011.056.443.684.60
YoY Growth--3,096.49%0.00%0.00%0.00%0.00%-100.00%71.43%75.00%-20.00%-44.44%
Dividend Yield--7.65%0.16%0.00%0.00%0.00%0.00%1.38%2.55%1.47%4.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)379,667.42
(-) Cash Dividends Paid (M)204,394.25
(=) Cash Retained (M)175,273.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)75,933.4847,458.4328,475.06
Cash Retained (M)175,273.17175,273.17175,273.17
(-) Cash Required (M)-75,933.48-47,458.43-28,475.06
(=) Excess Retained (M)99,339.69127,814.74146,798.11
(/) Shares Outstanding (M)3,691.143,691.143,691.14
(=) Excess Retained per Share26.9134.6339.77
LTM Dividend per Share55.3755.3755.37
(+) Excess Retained per Share26.9134.6339.77
(=) Adjusted Dividend82.2990.0095.14
WACC / Discount Rate4.68%4.68%4.68%
Growth Rate5.50%6.50%7.50%
Fair Value$17,362.63$19,170.38$20,456.12
Upside / Downside1,954.75%2,168.68%2,320.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)379,667.42404,345.80430,628.28458,619.12488,429.36520,177.27535,782.58
Payout Ratio53.84%61.07%68.30%75.53%82.77%90.00%92.50%
Projected Dividends (M)204,394.25246,926.14294,123.62346,413.50404,258.40468,159.54495,598.89

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.68%4.68%4.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)233,676.95235,891.90238,106.85
Year 2 PV (M)263,407.12268,424.29273,488.79
Year 3 PV (M)293,589.98302,017.90310,605.58
Year 4 PV (M)324,230.81336,699.81349,525.05
Year 5 PV (M)355,334.94372,497.75390,317.42
PV of Terminal Value (M)22,421,671.7823,504,646.9124,629,070.05
Equity Value (M)23,891,911.5925,020,178.5626,191,113.73
Shares Outstanding (M)3,691.143,691.143,691.14
Fair Value$6,472.78$6,778.45$7,095.67
Upside / Downside666.01%702.18%739.72%

High-Yield Dividend Screener

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