Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wuhan Raycus Fiber Laser Technologies Co.,Ltd. (300747.SZ)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$41.29 - $48.65$45.59
Multi-Stage$32.73 - $35.93$34.30
Blended Fair Value$39.95
Current Price$26.70
Upside49.61%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.73%30.74%0.140.120.010.050.050.110.060.030.010.01
YoY Growth--11.57%811.03%-73.74%10.29%-59.20%102.02%88.45%250.22%-31.09%32.24%
Dividend Yield--0.68%0.60%0.05%0.17%0.11%0.43%0.14%0.24%0.07%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)137.26
(-) Cash Dividends Paid (M)21.29
(=) Cash Retained (M)115.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)27.4517.1610.29
Cash Retained (M)115.97115.97115.97
(-) Cash Required (M)-27.45-17.16-10.29
(=) Excess Retained (M)88.5298.81105.67
(/) Shares Outstanding (M)561.14561.14561.14
(=) Excess Retained per Share0.160.180.19
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.160.180.19
(=) Adjusted Dividend0.200.210.23
WACC / Discount Rate-0.87%-0.87%-0.87%
Growth Rate5.50%6.50%7.50%
Fair Value$41.29$45.59$48.65
Upside / Downside54.64%70.74%82.19%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)137.26146.18155.68165.80176.58188.06193.70
Payout Ratio15.51%30.41%45.31%60.20%75.10%90.00%92.50%
Projected Dividends (M)21.2944.4570.5399.82132.61169.25179.17

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-0.87%-0.87%-0.87%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)44.4244.8445.26
Year 2 PV (M)70.4371.7773.13
Year 3 PV (M)99.60102.46105.38
Year 4 PV (M)132.23137.32142.55
Year 5 PV (M)168.64176.79185.25
PV of Terminal Value (M)17,852.7818,715.0819,610.37
Equity Value (M)18,368.1219,248.2620,161.94
Shares Outstanding (M)561.14561.14561.14
Fair Value$32.73$34.30$35.93
Upside / Downside22.60%28.47%34.57%

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