Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Wilmar Cahaya Indonesia Tbk. (CEKA.JK)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$15,029.31 - $85,895.82$27,515.95
Multi-Stage$8,965.04 - $9,799.68$9,374.76
Blended Fair Value$18,445.35
Current Price$2,650.00
Upside596.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%7.19%99.8699.8699.8699.8699.8699.8544.89149.750.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.01%122.41%-70.02%0.00%0.00%-100.00%
Dividend Yield--4.76%5.26%4.94%5.37%5.40%8.32%4.34%11.35%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)266,933.42
(-) Cash Dividends Paid (M)89,123.43
(=) Cash Retained (M)177,809.99
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)53,386.6833,366.6820,020.01
Cash Retained (M)177,809.99177,809.99177,809.99
(-) Cash Required (M)-53,386.68-33,366.68-20,020.01
(=) Excess Retained (M)124,423.31144,443.31157,789.99
(/) Shares Outstanding (M)595.00595.00595.00
(=) Excess Retained per Share209.11242.76265.19
LTM Dividend per Share149.79149.79149.79
(+) Excess Retained per Share209.11242.76265.19
(=) Adjusted Dividend358.90392.55414.98
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.50%6.50%7.50%
Fair Value$15,029.31$27,515.95$85,895.82
Upside / Downside467.14%938.34%3,141.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)266,933.42284,284.09302,762.56322,442.13343,400.87365,721.92376,693.58
Payout Ratio33.39%44.71%56.03%67.36%78.68%90.00%92.50%
Projected Dividends (M)89,123.43127,104.30169,646.14217,181.39270,179.48329,149.73348,441.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)116,563.21117,668.08118,772.94
Year 2 PV (M)142,674.55145,392.10148,135.29
Year 3 PV (M)167,504.48172,312.93177,212.54
Year 4 PV (M)191,098.58198,447.69206,006.76
Year 5 PV (M)213,500.98223,813.15234,520.00
PV of Terminal Value (M)4,502,859.724,720,349.534,946,163.18
Equity Value (M)5,334,201.525,577,983.495,830,810.72
Shares Outstanding (M)595.00595.00595.00
Fair Value$8,965.04$9,374.76$9,799.68
Upside / Downside238.30%253.76%269.80%

High-Yield Dividend Screener

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