Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Bank OCBC NISP Tbk (NISP.JK)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$3,465.00 - $6,759.55$4,770.74
Multi-Stage$3,794.10 - $4,150.78$3,969.14
Blended Fair Value$4,369.94
Current Price$1,355.00
Upside222.50%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%72.0058.0022.000.000.000.000.000.000.000.00
YoY Growth--24.14%163.62%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.35%4.31%2.88%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,873,131.00
(-) Cash Dividends Paid (M)2,432,201.00
(=) Cash Retained (M)2,440,930.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)974,626.20609,141.38365,484.83
Cash Retained (M)2,440,930.002,440,930.002,440,930.00
(-) Cash Required (M)-974,626.20-609,141.38-365,484.83
(=) Excess Retained (M)1,466,303.801,831,788.632,075,445.18
(/) Shares Outstanding (M)22,945.3022,945.3022,945.30
(=) Excess Retained per Share63.9079.8390.45
LTM Dividend per Share106.00106.00106.00
(+) Excess Retained per Share63.9079.8390.45
(=) Adjusted Dividend169.90185.83196.45
WACC / Discount Rate8.11%8.11%8.11%
Growth Rate3.05%4.05%5.05%
Fair Value$3,465.00$4,770.74$6,759.55
Upside / Downside155.72%252.08%398.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,873,131.005,070,639.365,276,152.755,489,995.615,712,505.545,944,033.826,122,354.83
Payout Ratio49.91%57.93%65.95%73.96%81.98%90.00%92.50%
Projected Dividends (M)2,432,201.002,937,337.713,479,425.544,060,629.964,683,231.295,349,630.445,663,178.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.11%8.11%8.11%
Growth Rate3.05%4.05%5.05%
Year 1 PV (M)2,690,974.112,717,086.642,743,199.16
Year 2 PV (M)2,920,241.872,977,191.413,034,690.90
Year 3 PV (M)3,122,197.203,213,973.043,307,529.96
Year 4 PV (M)3,298,892.473,428,814.783,562,537.44
Year 5 PV (M)3,452,247.883,623,028.963,800,502.90
PV of Terminal Value (M)71,572,300.1575,112,948.0678,792,353.19
Equity Value (M)87,056,853.6891,073,042.8895,240,813.56
Shares Outstanding (M)22,945.3022,945.3022,945.30
Fair Value$3,794.10$3,969.14$4,150.78
Upside / Downside180.01%192.93%206.33%

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