Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jingjin Equipment Inc. (603279.SS)

Company Dividend Discount ModelIndustry: Industrial - Pollution & Treatment ControlsSector: Industrials

Valuation Snapshot

Stable Growth$32.02 - $128.63$54.68
Multi-Stage$21.48 - $23.39$22.42
Blended Fair Value$38.55
Current Price$16.04
Upside140.32%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS32.97%37.98%1.731.010.570.500.420.420.000.170.000.06
YoY Growth--71.78%76.25%15.25%19.12%0.00%0.00%-100.00%0.00%-100.00%-11.91%
Dividend Yield--10.02%4.80%2.04%1.71%2.87%2.76%0.00%1.22%0.00%0.44%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)618.63
(-) Cash Dividends Paid (M)616.56
(=) Cash Retained (M)2.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)123.7377.3346.40
Cash Retained (M)2.072.072.07
(-) Cash Required (M)-123.73-77.33-46.40
(=) Excess Retained (M)-121.65-75.26-44.33
(/) Shares Outstanding (M)576.16576.16576.16
(=) Excess Retained per Share-0.21-0.13-0.08
LTM Dividend per Share1.071.071.07
(+) Excess Retained per Share-0.21-0.13-0.08
(=) Adjusted Dividend0.860.940.99
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Fair Value$32.02$54.68$128.63
Upside / Downside99.64%240.87%701.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)618.63658.84701.66747.27795.84847.57873.00
Payout Ratio99.67%97.73%95.80%93.87%91.93%90.00%92.50%
Projected Dividends (M)616.56643.90672.19701.43731.64762.82807.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)588.80594.38599.97
Year 2 PV (M)562.08572.79583.59
Year 3 PV (M)536.35551.75567.44
Year 4 PV (M)511.58531.26551.49
Year 5 PV (M)487.74511.30535.76
PV of Terminal Value (M)9,687.2310,155.1310,640.93
Equity Value (M)12,373.7912,916.6113,479.18
Shares Outstanding (M)576.16576.16576.16
Fair Value$21.48$22.42$23.39
Upside / Downside33.89%39.77%45.85%

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