Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Roda Vivatex Tbk (RDTX.JK)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$37,203.46 - $195,603.65$67,120.95
Multi-Stage$33,364.83 - $36,494.48$34,900.75
Blended Fair Value$51,010.85
Current Price$12,300.00
Upside314.72%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS65.14%26.57%1,103.931,003.92464.50134.8789.8789.8855.0090.0074.7284.68
YoY Growth--9.96%116.13%244.41%50.07%-0.01%63.41%-38.89%20.45%-11.76%-19.05%
Dividend Yield--9.05%7.05%4.42%1.87%1.34%1.91%0.71%1.76%1.00%1.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)310,301.35
(-) Cash Dividends Paid (M)296,737.12
(=) Cash Retained (M)13,564.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)62,060.2738,787.6723,272.60
Cash Retained (M)13,564.2313,564.2313,564.23
(-) Cash Required (M)-62,060.27-38,787.67-23,272.60
(=) Excess Retained (M)-48,496.04-25,223.44-9,708.38
(/) Shares Outstanding (M)268.80268.80268.80
(=) Excess Retained per Share-180.42-93.84-36.12
LTM Dividend per Share1,103.931,103.931,103.93
(+) Excess Retained per Share-180.42-93.84-36.12
(=) Adjusted Dividend923.521,010.101,067.82
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate3.85%4.85%5.85%
Fair Value$37,203.46$67,120.95$195,603.65
Upside / Downside202.47%445.70%1,490.27%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)310,301.35325,340.46341,108.46357,640.68374,974.15393,147.70404,942.13
Payout Ratio95.63%94.50%93.38%92.25%91.13%90.00%92.50%
Projected Dividends (M)296,737.12307,456.35318,517.58329,928.81341,697.96353,832.93374,571.47

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate3.85%4.85%5.85%
Year 1 PV (M)286,140.95288,896.37291,651.79
Year 2 PV (M)275,884.01281,222.89286,612.93
Year 3 PV (M)265,956.07273,713.43281,620.19
Year 4 PV (M)256,347.22266,364.83276,673.22
Year 5 PV (M)247,047.82259,173.97271,771.67
PV of Terminal Value (M)7,637,089.388,011,949.778,401,387.53
Equity Value (M)8,968,465.459,381,321.269,809,717.33
Shares Outstanding (M)268.80268.80268.80
Fair Value$33,364.83$34,900.75$36,494.48
Upside / Downside171.26%183.75%196.70%

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