Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Total Bangun Persada Tbk (TOTL.JK)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$2,010.62 - $4,250.07$2,851.19
Multi-Stage$2,895.08 - $3,174.35$3,032.08
Blended Fair Value$2,941.63
Current Price$845.00
Upside248.12%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%1.34%40.00100.0025.0010.0010.0040.0050.0045.0040.0030.00
YoY Growth---60.00%300.00%150.00%0.00%-75.00%-20.00%11.11%12.50%33.33%-14.29%
Dividend Yield--7.02%20.83%7.86%3.42%2.98%12.90%8.13%6.38%4.94%4.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)380,340.63
(-) Cash Dividends Paid (M)255,750.00
(=) Cash Retained (M)124,590.63
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)76,068.1347,542.5828,525.55
Cash Retained (M)124,590.63124,590.63124,590.63
(-) Cash Required (M)-76,068.13-47,542.58-28,525.55
(=) Excess Retained (M)48,522.5077,048.0596,065.08
(/) Shares Outstanding (M)3,410.003,410.003,410.00
(=) Excess Retained per Share14.2322.5928.17
LTM Dividend per Share75.0075.0075.00
(+) Excess Retained per Share14.2322.5928.17
(=) Adjusted Dividend89.2397.59103.17
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate1.90%2.90%3.90%
Fair Value$2,010.62$2,851.19$4,250.07
Upside / Downside137.94%237.42%402.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)380,340.63391,365.30402,709.53414,382.59426,394.01438,753.59451,916.20
Payout Ratio67.24%71.79%76.35%80.90%85.45%90.00%92.50%
Projected Dividends (M)255,750.00280,976.35307,450.26335,222.84364,347.16394,878.23418,022.49

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate1.90%2.90%3.90%
Year 1 PV (M)261,458.05264,023.91266,589.78
Year 2 PV (M)266,219.19271,470.01276,772.10
Year 3 PV (M)270,103.59278,134.01286,322.04
Year 4 PV (M)273,177.16284,059.54295,263.86
Year 5 PV (M)275,501.80289,288.18303,621.01
PV of Terminal Value (M)8,525,772.788,952,410.589,395,959.45
Equity Value (M)9,872,232.5910,339,386.2310,824,528.26
Shares Outstanding (M)3,410.003,410.003,410.00
Fair Value$2,895.08$3,032.08$3,174.35
Upside / Downside242.61%258.83%275.66%

High-Yield Dividend Screener

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