Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Mark Dynamics Indonesia Tbk (MARK.JK)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$3,715.15 - $14,105.68$10,812.03
Multi-Stage$1,840.71 - $2,008.79$1,923.23
Blended Fair Value$6,367.63
Current Price$635.00
Upside902.78%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS58.49%0.00%70.0040.0050.0015.007.007.003.000.000.000.00
YoY Growth--75.00%-20.00%233.33%114.29%0.00%133.33%0.00%0.00%0.00%0.00%
Dividend Yield--7.78%4.82%7.94%1.20%0.69%2.00%0.61%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)269,523.92
(-) Cash Dividends Paid (M)266,000.02
(=) Cash Retained (M)3,523.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53,904.7833,690.4920,214.29
Cash Retained (M)3,523.903,523.903,523.90
(-) Cash Required (M)-53,904.78-33,690.49-20,214.29
(=) Excess Retained (M)-50,380.88-30,166.59-16,690.39
(/) Shares Outstanding (M)3,800.003,800.003,800.00
(=) Excess Retained per Share-13.26-7.94-4.39
LTM Dividend per Share70.0070.0070.00
(+) Excess Retained per Share-13.26-7.94-4.39
(=) Adjusted Dividend56.7462.0665.61
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate5.50%6.50%7.50%
Fair Value$3,715.15$10,812.03$14,105.68
Upside / Downside485.06%1,602.68%2,121.37%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)269,523.92287,042.98305,700.77325,571.32346,733.46369,271.13380,349.26
Payout Ratio98.69%96.95%95.22%93.48%91.74%90.00%92.50%
Projected Dividends (M)266,000.02278,299.75291,074.60304,334.36318,088.10332,344.02351,823.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.11%7.11%7.11%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)257,383.28259,822.93262,262.58
Year 2 PV (M)248,965.59253,707.68258,494.52
Year 3 PV (M)240,742.91247,653.78254,695.65
Year 4 PV (M)232,711.29241,660.71250,865.81
Year 5 PV (M)224,866.83235,727.98247,004.82
PV of Terminal Value (M)5,790,035.676,069,696.566,360,060.73
Equity Value (M)6,994,705.577,308,269.647,633,384.10
Shares Outstanding (M)3,800.003,800.003,800.00
Fair Value$1,840.71$1,923.23$2,008.79
Upside / Downside189.88%202.87%216.34%

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