Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Suparma Tbk (SPMA.JK)

Company Dividend Discount ModelIndustry: Paper, Lumber & Forest ProductsSector: Basic Materials

Valuation Snapshot

Stable Growth$420.20 - $719.03$549.61
Multi-Stage$1,755.10 - $1,937.94$1,844.69
Blended Fair Value$1,197.15
Current Price$196.92
Upside507.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%11.970.000.0010.030.000.000.000.000.000.00
YoY Growth--0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.72%0.00%0.00%2.00%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)108,892.79
(-) Cash Dividends Paid (M)37,759.96
(=) Cash Retained (M)71,132.83
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21,778.5613,611.608,166.96
Cash Retained (M)71,132.8371,132.8371,132.83
(-) Cash Required (M)-21,778.56-13,611.60-8,166.96
(=) Excess Retained (M)49,354.2757,521.2362,965.87
(/) Shares Outstanding (M)3,154.093,154.093,154.09
(=) Excess Retained per Share15.6518.2419.96
LTM Dividend per Share11.9711.9711.97
(+) Excess Retained per Share15.6518.2419.96
(=) Adjusted Dividend27.6230.2131.93
WACC / Discount Rate4.44%4.44%4.44%
Growth Rate-2.00%-1.00%0.00%
Fair Value$420.20$549.61$719.03
Upside / Downside113.39%179.11%265.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)108,892.79107,803.86106,725.82105,658.57104,601.98103,555.96106,662.64
Payout Ratio34.68%45.74%56.81%67.87%78.94%90.00%92.50%
Projected Dividends (M)37,759.9649,310.5860,626.4271,711.0182,567.8493,200.3698,662.94

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.44%4.44%4.44%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)46,736.7347,213.6447,690.54
Year 2 PV (M)54,462.6055,579.7556,708.25
Year 3 PV (M)61,057.7162,945.9664,872.74
Year 4 PV (M)66,632.1569,393.7472,240.30
Year 5 PV (M)71,286.7474,998.8178,863.92
PV of Terminal Value (M)5,235,557.935,508,185.585,792,053.85
Equity Value (M)5,535,733.865,818,317.486,112,429.61
Shares Outstanding (M)3,154.093,154.093,154.09
Fair Value$1,755.10$1,844.69$1,937.94
Upside / Downside791.27%836.77%884.12%

High-Yield Dividend Screener

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