Definitive Analysis
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Definitive Analysis

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Company Industry Sector

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Mode

Company Industry Sector

Ticker

Industry

Sector

HIT Welding Industry Co.,Ltd (301137.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$2.24 - $3.34$2.76
Multi-Stage$4.31 - $4.74$4.52
Blended Fair Value$3.64
Current Price$38.42
Upside-90.53%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS-4.37%0.00%0.160.090.140.280.280.200.110.080.000.00
YoY Growth--83.39%-38.56%-47.50%-1.16%36.79%78.39%47.29%0.00%0.00%0.00%
Dividend Yield--0.74%0.58%0.94%1.25%1.18%0.86%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49.62
(-) Cash Dividends Paid (M)21.45
(=) Cash Retained (M)28.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.926.203.72
Cash Retained (M)28.1728.1728.17
(-) Cash Required (M)-9.92-6.20-3.72
(=) Excess Retained (M)18.2521.9724.45
(/) Shares Outstanding (M)182.18182.18182.18
(=) Excess Retained per Share0.100.120.13
LTM Dividend per Share0.120.120.12
(+) Excess Retained per Share0.100.120.13
(=) Adjusted Dividend0.220.240.25
WACC / Discount Rate7.55%7.55%7.55%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.24$2.76$3.34
Upside / Downside-94.18%-92.81%-91.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.6249.1348.6348.1547.6747.1948.61
Payout Ratio43.22%52.58%61.93%71.29%80.64%90.00%92.50%
Projected Dividends (M)21.4525.8330.1234.3238.4442.4744.96

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.55%7.55%7.55%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)23.7724.0224.26
Year 2 PV (M)25.5226.0426.57
Year 3 PV (M)26.7727.5928.44
Year 4 PV (M)27.5928.7329.91
Year 5 PV (M)28.0629.5231.04
PV of Terminal Value (M)653.35687.37722.79
Equity Value (M)785.05823.27863.01
Shares Outstanding (M)182.18182.18182.18
Fair Value$4.31$4.52$4.74
Upside / Downside-88.78%-88.24%-87.67%

High-Yield Dividend Screener

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