Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jiangsu Hoperun Software Co., Ltd. (300339.SZ)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$1.23 - $1.80$1.50
Multi-Stage$2.08 - $2.29$2.18
Blended Fair Value$1.84
Current Price$60.60
Upside-96.96%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-16.85%-7.27%0.040.040.050.060.070.090.100.090.070.04
YoY Growth---13.33%-17.03%-7.42%-22.34%-23.10%-8.82%11.31%33.20%88.73%-53.64%
Dividend Yield--0.07%0.18%0.20%0.28%0.82%0.97%0.72%0.77%0.48%0.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)129.00
(-) Cash Dividends Paid (M)21.93
(=) Cash Retained (M)107.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)25.8016.139.68
Cash Retained (M)107.07107.07107.07
(-) Cash Required (M)-25.80-16.13-9.68
(=) Excess Retained (M)81.2790.9597.40
(/) Shares Outstanding (M)786.21786.21786.21
(=) Excess Retained per Share0.100.120.12
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.100.120.12
(=) Adjusted Dividend0.130.140.15
WACC / Discount Rate8.46%8.46%8.46%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.23$1.50$1.80
Upside / Downside-97.97%-97.52%-97.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)129.00127.71126.44125.17123.92122.68126.36
Payout Ratio17.00%31.60%46.20%60.80%75.40%90.00%92.50%
Projected Dividends (M)21.9340.3658.4276.1193.44110.41116.89

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.46%8.46%8.46%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)36.8437.2137.59
Year 2 PV (M)48.6649.6650.67
Year 3 PV (M)57.8759.6661.48
Year 4 PV (M)64.8467.5370.30
Year 5 PV (M)69.9473.5877.37
PV of Terminal Value (M)1,357.111,427.771,501.35
Equity Value (M)1,635.261,715.421,798.77
Shares Outstanding (M)786.21786.21786.21
Fair Value$2.08$2.18$2.29
Upside / Downside-96.57%-96.40%-96.22%

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