Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PT Cita Mineral Investindo Tbk (CITA.JK)

Company Dividend Discount ModelIndustry: Industrial MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$5,772.72 - $8,286.07$7,001.57
Multi-Stage$9,582.34 - $10,502.80$10,033.75
Blended Fair Value$8,517.66
Current Price$4,000.00
Upside112.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%117.0010.0055.0091.0093.000.000.000.000.000.00
YoY Growth--1,070.00%-81.82%-39.56%-2.15%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.95%0.44%1.51%3.01%3.36%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)3,276,000.15
(-) Cash Dividends Paid (M)1,762,360.76
(=) Cash Retained (M)1,513,639.39
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)655,200.03409,500.02245,700.01
Cash Retained (M)1,513,639.391,513,639.391,513,639.39
(-) Cash Required (M)-655,200.03-409,500.02-245,700.01
(=) Excess Retained (M)858,439.361,104,139.371,267,939.38
(/) Shares Outstanding (M)3,960.363,960.363,960.36
(=) Excess Retained per Share216.76278.80320.16
LTM Dividend per Share445.00445.00445.00
(+) Excess Retained per Share216.76278.80320.16
(=) Adjusted Dividend661.76723.80765.16
WACC / Discount Rate9.23%9.23%9.23%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5,772.72$7,001.57$8,286.07
Upside / Downside44.32%75.04%107.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,276,000.153,243,240.153,210,807.753,178,699.673,146,912.673,115,443.543,208,906.85
Payout Ratio53.80%61.04%68.28%75.52%82.76%90.00%92.50%
Projected Dividends (M)1,762,360.761,979,572.952,192,264.652,400,504.572,604,360.472,803,899.192,968,238.84

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.23%9.23%9.23%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)1,793,921.721,812,227.051,830,532.37
Year 2 PV (M)1,800,349.991,837,279.281,874,583.49
Year 3 PV (M)1,786,481.301,841,729.451,898,105.06
Year 4 PV (M)1,756,422.581,829,218.081,904,253.26
Year 5 PV (M)1,713,650.651,802,884.421,895,797.35
PV of Terminal Value (M)29,098,679.7030,613,915.4632,191,625.41
Equity Value (M)37,949,505.9339,737,253.7341,594,896.95
Shares Outstanding (M)3,960.363,960.363,960.36
Fair Value$9,582.34$10,033.75$10,502.80
Upside / Downside139.56%150.84%162.57%

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