Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dongfeng Electronic Technology Co.,Ltd. (600081.SS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$0.74 - $1.09$0.91
Multi-Stage$1.49 - $1.64$1.57
Blended Fair Value$1.24
Current Price$12.93
Upside-90.43%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.55%-11.31%0.100.120.180.090.180.100.120.130.250.37
YoY Growth---13.40%-37.21%106.48%-51.52%78.71%-11.43%-9.32%-48.84%-32.15%11.08%
Dividend Yield--0.67%1.04%1.72%0.81%1.70%1.02%1.17%1.08%1.76%2.15%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)52.39
(-) Cash Dividends Paid (M)21.88
(=) Cash Retained (M)30.51
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.486.553.93
Cash Retained (M)30.5130.5130.51
(-) Cash Required (M)-10.48-6.55-3.93
(=) Excess Retained (M)20.0323.9626.58
(/) Shares Outstanding (M)552.93552.93552.93
(=) Excess Retained per Share0.040.040.05
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.040.040.05
(=) Adjusted Dividend0.080.080.09
WACC / Discount Rate7.44%7.44%7.44%
Growth Rate-2.55%-1.55%-0.55%
Fair Value$0.74$0.91$1.09
Upside / Downside-94.28%-92.98%-91.56%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)52.3951.5850.7849.9949.2248.4649.91
Payout Ratio41.77%51.41%61.06%70.71%80.35%90.00%92.50%
Projected Dividends (M)21.8826.5231.0135.3539.5543.6146.17

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.44%7.44%7.44%
Growth Rate-2.55%-1.55%-0.55%
Year 1 PV (M)24.4324.6824.93
Year 2 PV (M)26.3226.8627.41
Year 3 PV (M)27.6428.5029.38
Year 4 PV (M)28.4929.6830.90
Year 5 PV (M)28.9530.4632.04
PV of Terminal Value (M)690.11726.25763.89
Equity Value (M)825.94866.44908.56
Shares Outstanding (M)552.93552.93552.93
Fair Value$1.49$1.57$1.64
Upside / Downside-88.45%-87.88%-87.29%

High-Yield Dividend Screener

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