Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Ooredoo Q.P.S.C. (ORDS.QA)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$6.28 - $8.70$7.49
Multi-Stage$13.45 - $14.79$14.11
Blended Fair Value$10.80
Current Price$13.67
Upside-20.98%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS17.08%3.24%0.550.430.300.250.250.250.350.350.300.40
YoY Growth--27.91%43.33%20.00%0.00%0.00%-28.57%0.00%16.67%-25.00%0.00%
Dividend Yield--4.66%4.06%3.19%3.52%3.54%4.26%5.39%4.24%3.11%4.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,601.63
(-) Cash Dividends Paid (M)2,082.08
(=) Cash Retained (M)1,519.55
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)720.33450.20270.12
Cash Retained (M)1,519.551,519.551,519.55
(-) Cash Required (M)-720.33-450.20-270.12
(=) Excess Retained (M)799.231,069.351,249.43
(/) Shares Outstanding (M)3,203.203,203.203,203.20
(=) Excess Retained per Share0.250.330.39
LTM Dividend per Share0.650.650.65
(+) Excess Retained per Share0.250.330.39
(=) Adjusted Dividend0.900.981.04
WACC / Discount Rate8.19%8.19%8.19%
Growth Rate-5.36%-4.36%-3.36%
Fair Value$6.28$7.49$8.70
Upside / Downside-54.06%-45.17%-36.37%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,601.633,444.613,294.443,150.813,013.452,882.072,968.53
Payout Ratio57.81%64.25%70.69%77.12%83.56%90.00%92.50%
Projected Dividends (M)2,082.082,213.082,328.692,430.022,518.092,593.862,745.89

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.19%8.19%8.19%
Growth Rate-5.36%-4.36%-3.36%
Year 1 PV (M)2,024.072,045.452,066.84
Year 2 PV (M)1,947.911,989.292,031.11
Year 3 PV (M)1,859.071,918.631,979.44
Year 4 PV (M)1,761.921,837.571,915.64
Year 5 PV (M)1,659.931,749.501,842.89
PV of Terminal Value (M)33,826.0235,651.2737,554.47
Equity Value (M)43,078.9245,191.7247,390.40
Shares Outstanding (M)3,203.203,203.203,203.20
Fair Value$13.45$14.11$14.79
Upside / Downside-1.62%3.21%8.23%

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