Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jinyu Bio-technology Co., Ltd. (600201.SS)

Company Dividend Discount ModelIndustry: BiotechnologySector: Healthcare

Valuation Snapshot

Stable Growth$0.70 - $1.01$0.85
Multi-Stage$1.05 - $1.15$1.10
Blended Fair Value$0.98
Current Price$9.64
Upside-89.88%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-25.39%0.91%0.080.060.110.120.060.350.250.280.210.08
YoY Growth--33.33%-44.40%-10.69%101.12%-82.63%43.07%-11.89%34.42%169.09%3.82%
Dividend Yield--1.14%0.69%0.93%1.06%0.32%1.66%1.38%1.34%1.12%0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)100.76
(-) Cash Dividends Paid (M)33.30
(=) Cash Retained (M)67.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)20.1512.597.56
Cash Retained (M)67.4667.4667.46
(-) Cash Required (M)-20.15-12.59-7.56
(=) Excess Retained (M)47.3054.8659.90
(/) Shares Outstanding (M)1,089.301,089.301,089.30
(=) Excess Retained per Share0.040.050.05
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.040.050.05
(=) Adjusted Dividend0.070.080.09
WACC / Discount Rate9.42%9.42%9.42%
Growth Rate-1.09%-0.09%0.91%
Fair Value$0.70$0.85$1.01
Upside / Downside-92.78%-91.18%-89.48%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)100.76100.66100.57100.48100.39100.30103.30
Payout Ratio33.05%44.44%55.83%67.22%78.61%90.00%92.50%
Projected Dividends (M)33.3044.7456.1567.5478.9290.2795.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.42%9.42%9.42%
Growth Rate-1.09%-0.09%0.91%
Year 1 PV (M)40.4740.8841.29
Year 2 PV (M)45.9646.9047.84
Year 3 PV (M)50.0251.5553.12
Year 4 PV (M)52.8855.0557.28
Year 5 PV (M)54.7257.5460.48
PV of Terminal Value (M)901.88948.41996.83
Equity Value (M)1,145.941,200.331,256.84
Shares Outstanding (M)1,089.301,089.301,089.30
Fair Value$1.05$1.10$1.15
Upside / Downside-89.09%-88.57%-88.03%

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