Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

StarPower Semiconductor Ltd. (603290.SS)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$80.38 - $386.13$174.20
Multi-Stage$43.99 - $48.06$45.99
Blended Fair Value$110.09
Current Price$110.00
Upside0.09%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS101.70%0.00%1.391.020.500.230.170.040.020.040.040.04
YoY Growth--35.96%105.10%120.49%33.46%306.76%90.01%-42.10%-12.02%11.17%0.00%
Dividend Yield--1.58%0.99%0.25%0.08%0.14%0.05%0.17%0.29%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)466.19
(-) Cash Dividends Paid (M)257.45
(=) Cash Retained (M)208.74
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)93.2458.2734.96
Cash Retained (M)208.74208.74208.74
(-) Cash Required (M)-93.24-58.27-34.96
(=) Excess Retained (M)115.50150.47173.78
(/) Shares Outstanding (M)240.11240.11240.11
(=) Excess Retained per Share0.480.630.72
LTM Dividend per Share1.071.071.07
(+) Excess Retained per Share0.480.630.72
(=) Adjusted Dividend1.551.701.80
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Fair Value$80.38$174.20$386.13
Upside / Downside-26.93%58.36%251.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)466.19496.49528.76563.13599.73638.72657.88
Payout Ratio55.22%62.18%69.13%76.09%83.04%90.00%92.50%
Projected Dividends (M)257.45308.71365.55428.48498.05574.85608.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)284.37287.07289.77
Year 2 PV (M)310.19316.10322.06
Year 3 PV (M)334.93344.54354.34
Year 4 PV (M)358.61372.40386.59
Year 5 PV (M)381.28399.70418.82
PV of Terminal Value (M)8,893.129,322.669,768.65
Equity Value (M)10,562.5111,042.4711,540.22
Shares Outstanding (M)240.11240.11240.11
Fair Value$43.99$45.99$48.06
Upside / Downside-60.01%-58.19%-56.31%

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