Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Teladan Prima Agro Tbk (TLDN.JK)

Company Dividend Discount ModelIndustry: Agricultural Farm ProductsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$832.44 - $1,255.99$1,032.31
Multi-Stage$1,664.07 - $1,831.36$1,746.08
Blended Fair Value$1,389.19
Current Price$700.00
Upside98.46%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS0.00%0.00%12.2313.506.170.000.000.000.000.000.000.00
YoY Growth---9.38%118.78%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.42%3.00%1.21%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)1,260,982.58
(-) Cash Dividends Paid (M)399,958.04
(=) Cash Retained (M)861,024.55
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)252,196.52157,622.8294,573.69
Cash Retained (M)861,024.55861,024.55861,024.55
(-) Cash Required (M)-252,196.52-157,622.82-94,573.69
(=) Excess Retained (M)608,828.03703,401.72766,450.85
(/) Shares Outstanding (M)12,946.5312,946.5312,946.53
(=) Excess Retained per Share47.0354.3359.20
LTM Dividend per Share30.8930.8930.89
(+) Excess Retained per Share47.0354.3359.20
(=) Adjusted Dividend77.9285.2290.09
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate-2.00%-1.00%0.00%
Fair Value$832.44$1,032.31$1,255.99
Upside / Downside18.92%47.47%79.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,260,982.581,248,372.761,235,889.031,223,530.141,211,294.841,199,181.891,235,157.35
Payout Ratio31.72%43.37%55.03%66.69%78.34%90.00%92.50%
Projected Dividends (M)399,958.04541,473.86680,119.37815,937.83948,971.901,079,263.701,142,520.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)500,129.37505,232.73510,336.09
Year 2 PV (M)580,222.91592,124.61604,147.13
Year 3 PV (M)642,941.79662,825.20683,114.38
Year 4 PV (M)690,673.52719,298.71748,804.60
Year 5 PV (M)725,524.17763,303.90802,641.31
PV of Terminal Value (M)18,404,488.6719,362,853.0920,360,731.53
Equity Value (M)21,543,980.4222,605,638.2423,709,775.04
Shares Outstanding (M)12,946.5312,946.5312,946.53
Fair Value$1,664.07$1,746.08$1,831.36
Upside / Downside137.72%149.44%161.62%

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