Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Malaysian Pacific Industries Berhad (3867.KL)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$22.40 - $66.79$35.45
Multi-Stage$18.56 - $20.32$19.42
Blended Fair Value$27.44
Current Price$28.72
Upside-4.47%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS6.23%6.24%0.350.350.350.350.300.260.260.280.260.22
YoY Growth---0.10%0.02%0.07%16.97%15.68%0.19%-6.89%7.46%17.39%15.00%
Dividend Yield--1.22%1.32%1.27%1.22%0.66%1.37%2.82%2.29%1.93%2.81%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)176.71
(-) Cash Dividends Paid (M)49.61
(=) Cash Retained (M)127.09
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)35.3422.0913.25
Cash Retained (M)127.09127.09127.09
(-) Cash Required (M)-35.34-22.09-13.25
(=) Excess Retained (M)91.75105.00113.84
(/) Shares Outstanding (M)198.97198.97198.97
(=) Excess Retained per Share0.460.530.57
LTM Dividend per Share0.250.250.25
(+) Excess Retained per Share0.460.530.57
(=) Adjusted Dividend0.710.780.82
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate4.23%5.23%6.23%
Fair Value$22.40$35.45$66.79
Upside / Downside-22.02%23.45%132.57%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)176.71185.95195.68205.92216.69228.03234.87
Payout Ratio28.08%40.46%52.85%65.23%77.62%90.00%92.50%
Projected Dividends (M)49.6175.24103.41134.32168.19205.23217.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate4.23%5.23%6.23%
Year 1 PV (M)69.3069.9670.63
Year 2 PV (M)87.7389.4291.13
Year 3 PV (M)104.96108.01111.12
Year 4 PV (M)121.04125.76130.61
Year 5 PV (M)136.04142.70149.61
PV of Terminal Value (M)3,173.193,328.363,489.54
Equity Value (M)3,692.263,864.204,042.62
Shares Outstanding (M)198.97198.97198.97
Fair Value$18.56$19.42$20.32
Upside / Downside-35.39%-32.38%-29.25%

High-Yield Dividend Screener

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