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  • TCM Stock Evaluation - Dividend Discount Model

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    Minh Anh
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    This document evaluates TCM stock using two valuation models: the dividend discount model and residual income model. The dividend discount model values TCM at $869.23 per share based on the company's dividend per share, plowback ratio, and expected long-term growth rate. The residual income model values TCM at $56,055.54 per share based on the company's book value per share, earnings per share, and cost of equity over a three year period plus a terminal value.

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    This document evaluates TCM stock using two valuation models: the dividend discount model and residual income model. The dividend discount model values TCM at $869.23 per share based on the company's dividend per share, plowback ratio, and expected long-term growth rate. The residual income model values TCM at $56,055.54 per share based on the company's book value per share, earnings per share, and cost of equity over a three year period plus a terminal value.

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    17 views4 pages

    TCM Stock Evaluation - Dividend Discount Model

    Uploaded by

    Minh Anh
    This document evaluates TCM stock using two valuation models: the dividend discount model and residual income model. The dividend discount model values TCM at $869.23 per share based on the company's dividend per share, plowback ratio, and expected long-term growth rate. The residual income model values TCM at $56,055.54 per share based on the company's book value per share, earnings per share, and cost of equity over a three year period plus a terminal value.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 4

    TCM Stock evaluation - Dividend discount model

    Owner's equity
    OE last year
    Average OE
    Net income
    Return on equity
    Earning per share
    Share price
    Dividend per share
    Plow-back ratio
    Growth rate
    D1
    Discounted rate
    n
    V0

    2008
    345,734,228,679.00
    317,085,719,612.00
    331,409,974,145.50
    2,898,889.00
    0.83%
    142.00
    700.00

    2009
    2010
    525,246,936,066.00
    683,363,304,802.00
    345,734,228,679.00
    525,246,936,066.00
    435,490,582,372.50
    604,305,120,434.00
    45,212,596.00
    199,587,769.00
    8.60%
    29.39%
    4,605.00
    1,291.00
    18,700.00
    500.00
    800.00
    66.88%
    8.65%
    869.23
    12%
    72.24
    23,818.14

    el
    Average
    518,114,823,182.33
    396,022,294,785.67
    457,068,558,984.00
    82,566,418.00
    12.94%
    2,012.67
    666.67

    TCM Stock evaluation - Residual Income model

    Owner's equity
    OE last year
    Average OE
    Number of share
    Net income
    Return on equity
    Earning per share
    Share price
    Dividend per share
    Book value per share
    Plow-back ratio
    Growth rate
    Cost of equity

    Book value per share


    Earning per share
    REPS
    Discount value
    V0

    2008
    345,734,228,679.00
    317,085,719,612.00
    331,409,974,145.50
    24,183,920.00
    2,898,889.00
    0.83%
    142.00
    700.00
    13,703.73

    0
    13,507.80
    4,605.00

    2009
    525,246,936,066.00
    345,734,228,679.00
    435,490,582,372.50
    37,438,243.00
    45,212,596.00
    8.60%
    1,291.00

    2010
    683,363,304,802.00
    525,246,936,066.00
    604,305,120,434.00
    44,737,486.00
    199,587,769.00
    29.39%
    4,605.00
    18,700.00
    500.00
    800.00
    11,632.24
    13,507.80
    66.88%
    8.65%
    9.02%

    1
    17,642.08
    5,003.51
    3,784.56
    3,471.31
    56,055.54

    2
    5,436.50
    3,844.48
    3,234.39

    Average
    518,114,823,182.33
    396,022,294,785.67
    457,068,558,984.00
    35,453,216.33
    82,566,418.00
    12.94%
    2,012.67
    666.67

    Terminal value
    5,436.50
    3,844.48
    35,842.04

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