Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Anadolu Anonim Türk Sigorta Sirketi (ANSGR.IS)

Company Dividend Discount ModelIndustry: Insurance - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$124.24 - $240.59$170.58
Multi-Stage$93.79 - $102.40$98.02
Blended Fair Value$134.30
Current Price$21.42
Upside526.97%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.110.090.070.040.020.000.01
YoY Growth--0.00%0.00%-100.00%18.53%35.45%66.01%100.06%0.00%-100.00%0.00%
Dividend Yield--0.00%0.00%0.00%7.84%5.44%5.79%3.99%1.90%0.00%3.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)12,217.63
(-) Cash Dividends Paid (M)2,100.00
(=) Cash Retained (M)10,117.63
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,443.531,527.20916.32
Cash Retained (M)10,117.6310,117.6310,117.63
(-) Cash Required (M)-2,443.53-1,527.20-916.32
(=) Excess Retained (M)7,674.108,590.439,201.31
(/) Shares Outstanding (M)1,625.001,625.001,625.00
(=) Excess Retained per Share4.725.295.66
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share4.725.295.66
(=) Adjusted Dividend6.016.586.95
WACC / Discount Rate10.61%10.61%10.61%
Growth Rate5.50%6.50%7.50%
Fair Value$124.24$170.58$240.59
Upside / Downside480.04%696.35%1,023.22%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)12,217.6313,011.7813,857.5414,758.2815,717.5716,739.2117,241.39
Payout Ratio17.19%31.75%46.31%60.88%75.44%90.00%92.50%
Projected Dividends (M)2,100.004,131.326,417.848,984.1511,856.9715,065.2915,948.28

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.61%10.61%10.61%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)3,700.053,735.123,770.19
Year 2 PV (M)5,147.855,245.905,344.88
Year 3 PV (M)6,454.066,639.336,828.12
Year 4 PV (M)7,628.667,922.038,223.79
Year 5 PV (M)8,681.029,100.319,535.66
PV of Terminal Value (M)120,800.86126,635.58132,693.62
Equity Value (M)152,412.49159,278.28166,396.25
Shares Outstanding (M)1,625.001,625.001,625.00
Fair Value$93.79$98.02$102.40
Upside / Downside337.87%357.60%378.05%

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