Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Beijing Centergate Technologies (holding) Co., Ltd. (000931.SZ)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$0.54 - $0.80$0.67
Multi-Stage$1.54 - $1.70$1.62
Blended Fair Value$1.14
Current Price$5.27
Upside-78.30%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-11.80%-8.21%0.040.040.050.050.080.070.080.150.090.11
YoY Growth---12.11%-19.15%12.78%-36.90%5.53%-12.38%-45.55%71.60%-22.16%24.82%
Dividend Yield--0.80%0.93%0.86%0.62%1.13%0.84%0.81%2.33%0.98%1.25%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)51.45
(-) Cash Dividends Paid (M)17.58
(=) Cash Retained (M)33.88
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.296.433.86
Cash Retained (M)33.8833.8833.88
(-) Cash Required (M)-10.29-6.43-3.86
(=) Excess Retained (M)23.5927.4530.02
(/) Shares Outstanding (M)753.51753.51753.51
(=) Excess Retained per Share0.030.040.04
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.030.040.04
(=) Adjusted Dividend0.050.060.06
WACC / Discount Rate5.93%5.93%5.93%
Growth Rate-3.79%-2.79%-1.79%
Fair Value$0.54$0.67$0.80
Upside / Downside-89.74%-87.36%-84.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)51.4550.0248.6247.2645.9444.6646.00
Payout Ratio34.16%45.33%56.50%67.66%78.83%90.00%92.50%
Projected Dividends (M)17.5822.6727.4731.9836.2240.1942.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.93%5.93%5.93%
Growth Rate-3.79%-2.79%-1.79%
Year 1 PV (M)21.1821.4021.62
Year 2 PV (M)23.9824.4824.99
Year 3 PV (M)26.0826.9127.75
Year 4 PV (M)27.6028.7729.97
Year 5 PV (M)28.6230.1431.72
PV of Terminal Value (M)1,035.161,090.091,147.33
Equity Value (M)1,162.631,221.791,283.37
Shares Outstanding (M)753.51753.51753.51
Fair Value$1.54$1.62$1.70
Upside / Downside-70.72%-69.23%-67.68%

High-Yield Dividend Screener

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