Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT WEHA Transportasi Indonesia Tbk (WEHA.JK)

Company Dividend Discount ModelIndustry: RailroadsSector: Industrials

Valuation Snapshot

Stable Growth$2,523.81 - $2,976.28$2,787.91
Multi-Stage$2,102.44 - $2,318.08$2,208.15
Blended Fair Value$2,498.03
Current Price$115.00
Upside2,072.20%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%6.000.000.000.000.000.001.650.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%
Dividend Yield--6.19%0.00%0.00%0.00%0.00%0.00%1.15%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)22,943.73
(-) Cash Dividends Paid (M)8,763.33
(=) Cash Retained (M)14,180.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4,588.752,867.971,720.78
Cash Retained (M)14,180.4014,180.4014,180.40
(-) Cash Required (M)-4,588.75-2,867.97-1,720.78
(=) Excess Retained (M)9,591.6611,312.4412,459.62
(/) Shares Outstanding (M)1,460.561,460.561,460.56
(=) Excess Retained per Share6.577.758.53
LTM Dividend per Share6.006.006.00
(+) Excess Retained per Share6.577.758.53
(=) Adjusted Dividend12.5713.7514.53
WACC / Discount Rate-5.58%-5.58%-5.58%
Growth Rate0.41%1.41%2.41%
Fair Value$2,523.81$2,787.91$2,976.28
Upside / Downside2,094.62%2,324.27%2,488.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)22,943.7323,267.9823,596.8223,930.3024,268.4924,611.4625,349.81
Payout Ratio38.19%48.56%58.92%69.28%79.64%90.00%92.50%
Projected Dividends (M)8,763.3311,297.9813,902.5216,578.4219,327.1822,150.3223,448.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-5.58%-5.58%-5.58%
Growth Rate0.41%1.41%2.41%
Year 1 PV (M)11,847.2411,965.2212,083.21
Year 2 PV (M)15,287.1415,593.1415,902.18
Year 3 PV (M)19,115.8019,692.6220,280.92
Year 4 PV (M)23,368.6824,313.5725,286.84
Year 5 PV (M)28,084.2029,510.7630,994.72
PV of Terminal Value (M)2,973,024.623,124,042.213,281,135.25
Equity Value (M)3,070,727.683,225,117.533,385,683.12
Shares Outstanding (M)1,460.561,460.561,460.56
Fair Value$2,102.44$2,208.15$2,318.08
Upside / Downside1,728.21%1,820.13%1,915.72%

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