Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

EverProX Technologies Co., Ltd. Class A (300548.SZ)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$18.74 - $40.27$26.73
Multi-Stage$13.36 - $14.60$13.97
Blended Fair Value$20.35
Current Price$106.27
Upside-80.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS32.92%8.47%0.120.210.240.000.020.030.060.060.040.06
YoY Growth---41.58%-14.85%10,844.55%-87.82%-37.45%-48.77%-0.54%33.34%-33.33%20.00%
Dividend Yield--0.31%0.76%0.82%0.01%0.08%0.09%0.33%0.34%0.17%1.02%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)284.54
(-) Cash Dividends Paid (M)10.10
(=) Cash Retained (M)274.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)56.9135.5721.34
Cash Retained (M)274.45274.45274.45
(-) Cash Required (M)-56.91-35.57-21.34
(=) Excess Retained (M)217.54238.88253.11
(/) Shares Outstanding (M)289.53289.53289.53
(=) Excess Retained per Share0.750.830.87
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.750.830.87
(=) Adjusted Dividend0.790.860.91
WACC / Discount Rate9.93%9.93%9.93%
Growth Rate5.50%6.50%7.50%
Fair Value$18.74$26.73$40.27
Upside / Downside-82.37%-74.85%-62.10%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)284.54303.04322.73343.71366.05389.85401.54
Payout Ratio3.55%20.84%38.13%55.42%72.71%90.00%92.50%
Projected Dividends (M)10.1063.15123.05190.48266.15350.86371.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.93%9.93%9.93%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)56.9157.4557.98
Year 2 PV (M)99.93101.83103.75
Year 3 PV (M)139.40143.40147.48
Year 4 PV (M)175.52182.27189.22
Year 5 PV (M)208.51218.59229.04
PV of Terminal Value (M)3,186.773,340.693,500.51
Equity Value (M)3,867.044,044.234,227.98
Shares Outstanding (M)289.53289.53289.53
Fair Value$13.36$13.97$14.60
Upside / Downside-87.43%-86.86%-86.26%

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