Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Ateliers Mecaniques D'Indonesie Tbk (AMIN.JK)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$126.21 - $180.17$152.70
Multi-Stage$209.96 - $229.77$219.68
Blended Fair Value$186.19
Current Price$190.00
Upside-2.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-8.97%0.00%5.000.000.000.000.008.008.008.008.008.40
YoY Growth--0.00%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%-4.79%0.00%
Dividend Yield--3.50%0.00%0.00%0.00%0.00%2.00%1.85%1.79%2.38%7.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)20,039.29
(-) Cash Dividends Paid (M)14,040.00
(=) Cash Retained (M)5,999.29
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,007.862,504.911,502.95
Cash Retained (M)5,999.295,999.295,999.29
(-) Cash Required (M)-4,007.86-2,504.91-1,502.95
(=) Excess Retained (M)1,991.433,494.384,496.34
(/) Shares Outstanding (M)1,080.061,080.061,080.06
(=) Excess Retained per Share1.843.244.16
LTM Dividend per Share13.0013.0013.00
(+) Excess Retained per Share1.843.244.16
(=) Adjusted Dividend14.8416.2317.16
WACC / Discount Rate9.53%9.53%9.53%
Growth Rate-2.00%-1.00%0.00%
Fair Value$126.21$152.70$180.17
Upside / Downside-33.57%-19.63%-5.17%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)20,039.2919,838.8919,640.5119,444.1019,249.6619,057.1619,628.88
Payout Ratio70.06%74.05%78.04%82.02%86.01%90.00%92.50%
Projected Dividends (M)14,040.0014,690.6815,326.9415,949.0116,557.1117,151.4518,156.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.53%9.53%9.53%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)13,277.5513,413.0413,548.52
Year 2 PV (M)12,520.1012,776.9213,036.34
Year 3 PV (M)11,775.0312,139.1912,510.77
Year 4 PV (M)11,048.1411,506.0311,978.01
Year 5 PV (M)10,343.8310,882.4611,443.29
PV of Terminal Value (M)167,807.84176,545.98185,644.40
Equity Value (M)226,772.49237,263.61248,161.34
Shares Outstanding (M)1,080.061,080.061,080.06
Fair Value$209.96$219.68$229.77
Upside / Downside10.51%15.62%20.93%

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