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Jingjin Equipment Inc. (603279.SS)

Company Dividend Discount ModelIndustry: Industrial - Pollution & Treatment ControlsSector: Industrials

Valuation Snapshot

Stable Growth$68.74 - $213.53$200.11
Multi-Stage$30.04 - $32.79$31.39
Blended Fair Value$115.75
Current Price$16.04
Upside621.64%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS32.97%37.98%1.731.010.570.500.420.420.000.170.000.06
YoY Growth--71.78%76.25%15.25%19.12%0.00%0.00%-100.00%0.00%-100.00%-11.91%
Dividend Yield--10.02%4.80%2.04%1.71%2.87%2.76%0.00%1.22%0.00%0.44%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)618.63
(-) Cash Dividends Paid (M)616.56
(=) Cash Retained (M)2.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)123.7377.3346.40
Cash Retained (M)2.072.072.07
(-) Cash Required (M)-123.73-77.33-46.40
(=) Excess Retained (M)-121.65-75.26-44.33
(/) Shares Outstanding (M)576.16576.16576.16
(=) Excess Retained per Share-0.21-0.13-0.08
LTM Dividend per Share1.071.071.07
(+) Excess Retained per Share-0.21-0.13-0.08
(=) Adjusted Dividend0.860.940.99
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Fair Value$68.74$200.11$213.53
Upside / Downside328.55%1,147.59%1,231.27%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)618.63658.84701.66747.27795.84847.57873.00
Payout Ratio99.67%97.73%95.80%93.87%91.93%90.00%92.50%
Projected Dividends (M)616.56643.90672.19701.43731.64762.82807.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)597.14602.80608.46
Year 2 PV (M)578.10589.11600.23
Year 3 PV (M)559.45575.51591.87
Year 4 PV (M)541.16561.97583.38
Year 5 PV (M)523.25548.52574.76
PV of Terminal Value (M)14,506.7515,207.4315,934.92
Equity Value (M)17,305.8418,085.3418,893.62
Shares Outstanding (M)576.16576.16576.16
Fair Value$30.04$31.39$32.79
Upside / Downside87.26%95.70%104.44%

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