Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Mark Dynamics Indonesia Tbk (MARK.JK)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$1,766.48 - $5,078.36$2,766.88
Multi-Stage$1,281.90 - $1,395.38$1,337.63
Blended Fair Value$2,052.26
Current Price$635.00
Upside223.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS58.49%0.00%70.0040.0050.0015.007.007.003.000.000.000.00
YoY Growth--75.00%-20.00%233.33%114.29%0.00%133.33%0.00%0.00%0.00%0.00%
Dividend Yield--7.78%4.82%7.94%1.20%0.69%2.00%0.61%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)269,523.92
(-) Cash Dividends Paid (M)266,000.02
(=) Cash Retained (M)3,523.90
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53,904.7833,690.4920,214.29
Cash Retained (M)3,523.903,523.903,523.90
(-) Cash Required (M)-53,904.78-33,690.49-20,214.29
(=) Excess Retained (M)-50,380.88-30,166.59-16,690.39
(/) Shares Outstanding (M)3,800.003,800.003,800.00
(=) Excess Retained per Share-13.26-7.94-4.39
LTM Dividend per Share70.0070.0070.00
(+) Excess Retained per Share-13.26-7.94-4.39
(=) Adjusted Dividend56.7462.0665.61
WACC / Discount Rate8.89%8.89%8.89%
Growth Rate5.50%6.50%7.50%
Fair Value$1,766.48$2,766.88$5,078.36
Upside / Downside178.19%335.73%699.74%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)269,523.92287,042.98305,700.77325,571.32346,733.46369,271.13380,349.26
Payout Ratio98.69%96.95%95.22%93.48%91.74%90.00%92.50%
Projected Dividends (M)266,000.02278,299.75291,074.60304,334.36318,088.10332,344.02351,823.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.89%8.89%8.89%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)253,181.78255,581.61257,981.44
Year 2 PV (M)240,903.75245,492.29250,124.12
Year 3 PV (M)229,144.73235,722.65242,425.27
Year 4 PV (M)217,884.30226,263.52234,882.12
Year 5 PV (M)207,102.82217,105.96227,491.95
PV of Terminal Value (M)3,723,020.623,902,843.914,089,549.46
Equity Value (M)4,871,238.015,083,009.955,302,454.36
Shares Outstanding (M)3,800.003,800.003,800.00
Fair Value$1,281.90$1,337.63$1,395.38
Upside / Downside101.87%110.65%119.75%

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