Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jiangsu Huaxicun Co.,Ltd. (000936.SZ)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$54.31 - $64.07$60.01
Multi-Stage$82.01 - $90.63$86.24
Blended Fair Value$73.12
Current Price$7.63
Upside858.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-25.51%1.77%0.070.060.090.050.160.320.430.290.070.05
YoY Growth--22.17%-35.00%89.74%-70.40%-48.59%-25.94%46.31%316.60%53.39%-24.97%
Dividend Yield--1.03%0.74%1.17%0.87%2.84%3.85%3.92%3.77%0.78%0.50%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)317.82
(-) Cash Dividends Paid (M)37.54
(=) Cash Retained (M)280.28
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)63.5639.7323.84
Cash Retained (M)280.28280.28280.28
(-) Cash Required (M)-63.56-39.73-23.84
(=) Excess Retained (M)216.71240.55256.44
(/) Shares Outstanding (M)921.87921.87921.87
(=) Excess Retained per Share0.240.260.28
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.240.260.28
(=) Adjusted Dividend0.280.300.32
WACC / Discount Rate-17.61%-17.61%-17.61%
Growth Rate-1.54%-0.54%0.46%
Fair Value$54.31$60.01$64.07
Upside / Downside611.83%686.47%739.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)317.82316.11314.41312.72311.04309.37318.65
Payout Ratio11.81%27.45%43.09%58.72%74.36%90.00%92.50%
Projected Dividends (M)37.5486.77135.47183.64231.30278.43294.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-17.61%-17.61%-17.61%
Growth Rate-1.54%-0.54%0.46%
Year 1 PV (M)104.25105.31106.37
Year 2 PV (M)195.56199.56203.59
Year 3 PV (M)318.53328.34338.34
Year 4 PV (M)482.03501.91522.40
Year 5 PV (M)697.18733.31770.92
PV of Terminal Value (M)73,804.4377,629.1681,610.85
Equity Value (M)75,601.9879,497.5983,552.47
Shares Outstanding (M)921.87921.87921.87
Fair Value$82.01$86.24$90.63
Upside / Downside974.83%1,030.22%1,087.86%

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