Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

361 Degrees International Limited (1361.HK)

Company Dividend Discount ModelIndustry: Apparel - Footwear & AccessoriesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$184.83 - $217.76$204.08
Multi-Stage$127.50 - $139.91$133.59
Blended Fair Value$168.83
Current Price$4.55
Upside3,610.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS27.90%18.83%0.280.060.000.000.010.080.090.070.150.08
YoY Growth--376.47%0.00%0.00%-100.00%-83.60%-12.77%32.39%-53.59%91.25%60.00%
Dividend Yield--7.05%1.96%0.00%0.00%1.48%6.46%6.57%3.16%5.69%3.28%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,264.09
(-) Cash Dividends Paid (M)892.89
(=) Cash Retained (M)1,371.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)452.82283.01169.81
Cash Retained (M)1,371.201,371.201,371.20
(-) Cash Required (M)-452.82-283.01-169.81
(=) Excess Retained (M)918.381,088.191,201.39
(/) Shares Outstanding (M)2,067.692,067.692,067.69
(=) Excess Retained per Share0.440.530.58
LTM Dividend per Share0.430.430.43
(+) Excess Retained per Share0.440.530.58
(=) Adjusted Dividend0.880.961.01
WACC / Discount Rate2.04%2.04%2.04%
Growth Rate5.50%6.50%7.50%
Fair Value$184.83$204.08$217.76
Upside / Downside3,962.26%4,385.22%4,686.04%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,264.092,411.252,567.982,734.902,912.673,101.993,195.05
Payout Ratio39.44%49.55%59.66%69.77%79.89%90.00%92.50%
Projected Dividends (M)892.891,194.761,532.111,908.272,326.862,791.792,955.42

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.04%2.04%2.04%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,159.851,170.841,181.83
Year 2 PV (M)1,443.871,471.371,499.13
Year 3 PV (M)1,745.811,795.921,846.99
Year 4 PV (M)2,066.542,146.022,227.76
Year 5 PV (M)2,407.002,523.262,643.97
PV of Terminal Value (M)254,808.08267,115.40279,893.76
Equity Value (M)263,631.15276,222.82289,293.45
Shares Outstanding (M)2,067.692,067.692,067.69
Fair Value$127.50$133.59$139.91
Upside / Downside2,702.20%2,836.04%2,974.97%

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