Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Anabatic Technologies Tbk (ATIC.JK)

Company Dividend Discount ModelIndustry: Information Technology ServicesSector: Technology

Valuation Snapshot

Stable Growth$2,980.64 - $15,368.87$6,061.05
Multi-Stage$1,780.62 - $1,947.06$1,862.32
Blended Fair Value$3,961.68
Current Price$394.00
Upside905.50%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.007.4546.4710.844.747.226.95
YoY Growth--0.00%0.00%0.00%-100.00%-83.98%328.73%128.76%-34.37%3.90%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%1.05%6.45%1.24%0.64%1.00%1.14%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)214,666.57
(-) Cash Dividends Paid (M)96,150.38
(=) Cash Retained (M)118,516.18
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)42,933.3126,833.3216,099.99
Cash Retained (M)118,516.18118,516.18118,516.18
(-) Cash Required (M)-42,933.31-26,833.32-16,099.99
(=) Excess Retained (M)75,582.8791,682.86102,416.19
(/) Shares Outstanding (M)2,769.922,769.922,769.92
(=) Excess Retained per Share27.2933.1036.97
LTM Dividend per Share34.7134.7134.71
(+) Excess Retained per Share27.2933.1036.97
(=) Adjusted Dividend62.0067.8171.69
WACC / Discount Rate7.38%7.38%7.38%
Growth Rate5.19%6.19%7.19%
Fair Value$2,980.64$6,061.05$15,368.87
Upside / Downside656.51%1,438.34%3,800.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)214,666.57227,964.66242,086.54257,083.24273,008.95289,921.22298,618.85
Payout Ratio44.79%53.83%62.87%71.92%80.96%90.00%92.50%
Projected Dividends (M)96,150.38122,718.98152,210.32184,884.57221,022.90260,929.10276,222.44

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.38%7.38%7.38%
Growth Rate5.19%6.19%7.19%
Year 1 PV (M)113,205.54114,281.69115,357.84
Year 2 PV (M)129,525.71132,000.01134,497.71
Year 3 PV (M)145,133.78149,312.25153,570.16
Year 4 PV (M)160,051.97166,225.24172,575.38
Year 5 PV (M)174,301.94182,745.68191,513.53
PV of Terminal Value (M)4,209,963.744,413,907.804,625,680.14
Equity Value (M)4,932,182.685,158,472.665,393,194.76
Shares Outstanding (M)2,769.922,769.922,769.92
Fair Value$1,780.62$1,862.32$1,947.06
Upside / Downside351.93%372.67%394.18%

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