Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Foryou Corporation (002906.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$116.26 - $284.25$266.39
Multi-Stage$41.47 - $45.39$43.39
Blended Fair Value$154.89
Current Price$33.86
Upside357.44%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS266.50%-1.01%0.360.270.210.190.090.000.230.220.280.28
YoY Growth--32.20%29.95%7.54%116.81%16,409.01%-99.76%1.68%-19.42%-2.35%-29.10%
Dividend Yield--1.02%0.97%0.63%0.50%0.32%0.00%1.90%1.01%1.40%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)748.02
(-) Cash Dividends Paid (M)291.99
(=) Cash Retained (M)456.03
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)149.6093.5056.10
Cash Retained (M)456.03456.03456.03
(-) Cash Required (M)-149.60-93.50-56.10
(=) Excess Retained (M)306.42362.53399.93
(/) Shares Outstanding (M)523.35523.35523.35
(=) Excess Retained per Share0.590.690.76
LTM Dividend per Share0.560.560.56
(+) Excess Retained per Share0.590.690.76
(=) Adjusted Dividend1.141.251.32
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Fair Value$116.26$266.39$284.25
Upside / Downside243.35%686.73%739.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)748.02796.64848.43903.57962.311,024.861,055.60
Payout Ratio39.04%49.23%59.42%69.61%79.81%90.00%92.50%
Projected Dividends (M)291.99392.17504.15629.02767.99922.37976.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.54%6.54%6.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)364.65368.11371.57
Year 2 PV (M)435.87444.17452.55
Year 3 PV (M)505.66520.18534.97
Year 4 PV (M)574.06596.13618.84
Year 5 PV (M)641.07672.03704.18
PV of Terminal Value (M)19,183.4620,110.0221,072.05
Equity Value (M)21,704.7622,710.6523,754.16
Shares Outstanding (M)523.35523.35523.35
Fair Value$41.47$43.39$45.39
Upside / Downside22.48%28.16%34.05%

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