Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Chaowei Power Holdings Limited (0951.HK)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$4.11 - $6.09$5.06
Multi-Stage$18.45 - $20.43$19.42
Blended Fair Value$12.24
Current Price$1.21
Upside911.37%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-3.04%-5.44%0.050.060.070.100.080.060.060.070.090.00
YoY Growth---20.43%-17.84%-23.91%29.36%33.17%-9.18%-8.82%-24.20%0.00%-100.00%
Dividend Yield--3.48%4.83%4.97%5.86%2.82%2.22%2.34%1.81%1.52%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)587.82
(-) Cash Dividends Paid (M)120.65
(=) Cash Retained (M)467.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)117.5673.4844.09
Cash Retained (M)467.17467.17467.17
(-) Cash Required (M)-117.56-73.48-44.09
(=) Excess Retained (M)349.61393.69423.08
(/) Shares Outstanding (M)1,104.131,104.131,104.13
(=) Excess Retained per Share0.320.360.38
LTM Dividend per Share0.110.110.11
(+) Excess Retained per Share0.320.360.38
(=) Adjusted Dividend0.430.470.49
WACC / Discount Rate4.80%4.80%4.80%
Growth Rate-5.04%-4.04%-3.04%
Fair Value$4.11$5.06$6.09
Upside / Downside239.77%318.03%403.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)587.82564.06541.26519.38498.39478.24492.59
Payout Ratio20.52%34.42%48.31%62.21%76.10%90.00%92.50%
Projected Dividends (M)120.65194.15261.51323.11379.30430.42455.65

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.80%4.80%4.80%
Growth Rate-5.04%-4.04%-3.04%
Year 1 PV (M)183.33185.26187.19
Year 2 PV (M)233.18238.12243.11
Year 3 PV (M)272.06280.75289.62
Year 4 PV (M)301.59314.49327.81
Year 5 PV (M)323.17340.55358.67
PV of Terminal Value (M)19,055.0220,079.7221,148.03
Equity Value (M)20,368.3621,438.8922,554.43
Shares Outstanding (M)1,104.131,104.131,104.13
Fair Value$18.45$19.42$20.43
Upside / Downside1,424.59%1,504.72%1,588.21%

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