Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hangzhou Onechance Tech Crop. (300792.SZ)

Company Dividend Discount ModelIndustry: Specialty RetailSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$2.19 - $3.09$2.64
Multi-Stage$3.30 - $3.62$3.46
Blended Fair Value$3.05
Current Price$35.00
Upside-91.30%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.28%0.00%0.140.150.260.340.340.130.220.060.000.00
YoY Growth---12.23%-40.44%-23.26%-0.57%167.13%-41.18%240.00%9,892.89%309.39%0.00%
Dividend Yield--0.50%0.80%0.75%0.87%0.58%0.15%1.06%0.31%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)79.73
(-) Cash Dividends Paid (M)23.66
(=) Cash Retained (M)56.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.959.975.98
Cash Retained (M)56.0756.0756.07
(-) Cash Required (M)-15.95-9.97-5.98
(=) Excess Retained (M)40.1246.1050.09
(/) Shares Outstanding (M)236.63236.63236.63
(=) Excess Retained per Share0.170.190.21
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.170.190.21
(=) Adjusted Dividend0.270.290.31
WACC / Discount Rate10.07%10.07%10.07%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.19$2.64$3.09
Upside / Downside-93.75%-92.47%-91.16%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)79.7378.9378.1477.3676.5975.8278.10
Payout Ratio29.68%41.74%53.81%65.87%77.94%90.00%92.50%
Projected Dividends (M)23.6632.9542.0550.9659.6968.2472.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.07%10.07%10.07%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)29.6329.9330.23
Year 2 PV (M)34.0134.7035.41
Year 3 PV (M)37.0738.2139.38
Year 4 PV (M)39.0440.6642.33
Year 5 PV (M)40.1442.2344.41
PV of Terminal Value (M)600.95632.24664.83
Equity Value (M)780.84817.99856.59
Shares Outstanding (M)236.63236.63236.63
Fair Value$3.30$3.46$3.62
Upside / Downside-90.57%-90.12%-89.66%

High-Yield Dividend Screener

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