Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

YLZ Information Technology Co., Ltd (300096.SZ)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$0.49 - $0.63$0.56
Multi-Stage$0.99 - $1.10$1.04
Blended Fair Value$0.80
Current Price$7.38
Upside-89.11%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-41.09%-37.55%0.000.010.020.010.010.010.010.010.010.01
YoY Growth---95.35%-59.47%276.24%0.00%0.00%0.00%0.00%0.00%0.00%-87.29%
Dividend Yield--0.01%0.16%0.25%0.06%0.07%0.05%0.04%0.04%0.04%0.03%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)62.65
(-) Cash Dividends Paid (M)7.42
(=) Cash Retained (M)55.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.537.834.70
Cash Retained (M)55.2355.2355.23
(-) Cash Required (M)-12.53-7.83-4.70
(=) Excess Retained (M)42.7047.4050.54
(/) Shares Outstanding (M)429.87429.87429.87
(=) Excess Retained per Share0.100.110.12
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.100.110.12
(=) Adjusted Dividend0.120.130.13
WACC / Discount Rate9.06%9.06%9.06%
Growth Rate-12.06%-11.06%-10.06%
Fair Value$0.49$0.56$0.63
Upside / Downside-93.42%-92.36%-91.40%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)62.6555.7349.5644.0839.2134.8735.92
Payout Ratio11.84%27.47%43.11%58.74%74.37%90.00%92.50%
Projected Dividends (M)7.4215.3121.3625.8929.1631.3933.23

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.06%9.06%9.06%
Growth Rate-12.06%-11.06%-10.06%
Year 1 PV (M)13.8814.0414.20
Year 2 PV (M)17.5617.9618.37
Year 3 PV (M)19.3019.9620.64
Year 4 PV (M)19.7020.6121.56
Year 5 PV (M)19.2320.3521.52
PV of Terminal Value (M)336.10355.65376.10
Equity Value (M)425.77448.57472.38
Shares Outstanding (M)429.87429.87429.87
Fair Value$0.99$1.04$1.10
Upside / Downside-86.58%-85.86%-85.11%

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