Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

P.C.S. Machine Group Holding Public Company Limited (PCSGH.BK)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$14.10 - $74.09$28.31
Multi-Stage$36.28 - $40.16$38.18
Blended Fair Value$33.24
Current Price$3.20
Upside938.85%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.45%-2.20%0.300.400.300.400.200.200.270.280.240.40
YoY Growth---25.00%33.33%-25.00%100.00%0.00%-25.93%-3.57%16.67%-40.00%6.71%
Dividend Yield--8.58%8.01%5.83%7.77%3.85%4.43%3.97%3.92%3.97%7.41%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)623.89
(-) Cash Dividends Paid (M)381.25
(=) Cash Retained (M)242.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)124.7877.9946.79
Cash Retained (M)242.64242.64242.64
(-) Cash Required (M)-124.78-77.99-46.79
(=) Excess Retained (M)117.86164.65195.85
(/) Shares Outstanding (M)1,523.551,523.551,523.55
(=) Excess Retained per Share0.080.110.13
LTM Dividend per Share0.250.250.25
(+) Excess Retained per Share0.080.110.13
(=) Adjusted Dividend0.330.360.38
WACC / Discount Rate-1.97%-1.97%-1.97%
Growth Rate-4.20%-3.20%-2.20%
Fair Value$14.10$28.31$74.09
Upside / Downside340.72%784.55%2,215.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)623.89603.95584.64565.96547.87530.35546.26
Payout Ratio61.11%66.89%72.67%78.44%84.22%90.00%92.50%
Projected Dividends (M)381.25403.96424.83443.96461.42477.32505.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.97%-1.97%-1.97%
Growth Rate-4.20%-3.20%-2.20%
Year 1 PV (M)407.83412.08416.34
Year 2 PV (M)433.00442.09451.27
Year 3 PV (M)456.82471.28486.03
Year 4 PV (M)479.34499.67520.64
Year 5 PV (M)500.60527.27555.08
PV of Terminal Value (M)52,993.6455,817.7358,760.96
Equity Value (M)55,271.2358,170.1261,190.31
Shares Outstanding (M)1,523.551,523.551,523.55
Fair Value$36.28$38.18$40.16
Upside / Downside1,033.69%1,093.15%1,155.09%

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