Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

OK Science and Technology Co., Ltd. (001223.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$21.77 - $64.11$34.34
Multi-Stage$77.19 - $85.30$81.16
Blended Fair Value$57.75
Current Price$50.98
Upside13.28%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018
DPS93.97%0.00%0.740.000.010.160.550.030.000.000.000.00
YoY Growth--42,331.54%-86.25%-92.08%-70.82%1,936.68%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.00%0.01%0.02%0.28%0.96%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)67.95
(-) Cash Dividends Paid (M)12.30
(=) Cash Retained (M)55.65
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.598.495.10
Cash Retained (M)55.6555.6555.65
(-) Cash Required (M)-13.59-8.49-5.10
(=) Excess Retained (M)42.0647.1650.56
(/) Shares Outstanding (M)73.3573.3573.35
(=) Excess Retained per Share0.570.640.69
LTM Dividend per Share0.170.170.17
(+) Excess Retained per Share0.570.640.69
(=) Adjusted Dividend0.740.810.86
WACC / Discount Rate1.34%1.34%1.34%
Growth Rate-2.00%-1.00%0.00%
Fair Value$21.77$34.34$64.11
Upside / Downside-57.30%-32.63%25.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)67.9567.2766.6065.9365.2764.6266.56
Payout Ratio18.10%32.48%46.86%61.24%75.62%90.00%92.50%
Projected Dividends (M)12.3021.8531.2140.3749.3658.1661.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.34%1.34%1.34%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)21.3421.5621.78
Year 2 PV (M)29.7830.3931.01
Year 3 PV (M)37.6338.8039.99
Year 4 PV (M)44.9446.8048.72
Year 5 PV (M)51.7354.4257.23
PV of Terminal Value (M)5,475.905,761.046,057.94
Equity Value (M)5,661.325,953.016,256.65
Shares Outstanding (M)73.3573.3573.35
Fair Value$77.19$81.16$85.30
Upside / Downside51.40%59.20%67.32%

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