Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Al Khaleej Training and Education Company (4290.SR)

Company Dividend Discount ModelIndustry: Education & Training ServicesSector: Consumer Defensive

Valuation Snapshot

Stable Growth$16.65 - $62.06$50.00
Multi-Stage$23.48 - $25.83$24.63
Blended Fair Value$37.32
Current Price$25.50
Upside46.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.080.040.170.170.000.310.310.620.43
YoY Growth---100.00%97.01%-75.32%0.00%0.00%-100.00%0.00%-50.00%42.86%-6.67%
Dividend Yield--0.00%0.31%0.26%0.93%0.69%0.00%2.24%1.79%3.65%1.66%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)20.83
(-) Cash Dividends Paid (M)0.77
(=) Cash Retained (M)20.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.172.601.56
Cash Retained (M)20.0720.0720.07
(-) Cash Required (M)-4.17-2.60-1.56
(=) Excess Retained (M)15.9017.4618.51
(/) Shares Outstanding (M)65.0065.0065.00
(=) Excess Retained per Share0.240.270.28
LTM Dividend per Share0.010.010.01
(+) Excess Retained per Share0.240.270.28
(=) Adjusted Dividend0.260.280.30
WACC / Discount Rate4.25%4.25%4.25%
Growth Rate2.67%3.67%4.67%
Fair Value$16.65$50.00$62.06
Upside / Downside-34.72%96.08%143.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)20.8321.6022.3923.2124.0624.9525.69
Payout Ratio3.67%20.94%38.20%55.47%72.73%90.00%92.50%
Projected Dividends (M)0.774.528.5512.8817.5022.4523.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.25%4.25%4.25%
Growth Rate2.67%3.67%4.67%
Year 1 PV (M)4.304.344.38
Year 2 PV (M)7.727.878.02
Year 3 PV (M)11.0411.3611.70
Year 4 PV (M)14.2514.8215.40
Year 5 PV (M)17.3718.2319.13
PV of Terminal Value (M)1,471.411,544.481,620.42
Equity Value (M)1,526.091,601.101,679.05
Shares Outstanding (M)65.0065.0065.00
Fair Value$23.48$24.63$25.83
Upside / Downside-7.93%-3.40%1.30%

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