Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Wuxi Taiji Industry Limited Corporation (600667.SS)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$11.94 - $57.35$25.89
Multi-Stage$6.69 - $7.30$6.99
Blended Fair Value$16.44
Current Price$8.14
Upside101.97%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-7.83%10.69%0.180.150.280.250.250.270.200.160.100.07
YoY Growth--23.61%-48.08%10.43%1.09%-7.16%32.83%26.13%68.69%32.87%10.56%
Dividend Yield--2.64%2.12%4.68%3.53%3.03%2.73%2.60%2.06%1.32%1.03%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)586.01
(-) Cash Dividends Paid (M)491.31
(=) Cash Retained (M)94.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)117.2073.2543.95
Cash Retained (M)94.7094.7094.70
(-) Cash Required (M)-117.20-73.25-43.95
(=) Excess Retained (M)-22.5021.4550.75
(/) Shares Outstanding (M)2,032.282,032.282,032.28
(=) Excess Retained per Share-0.010.010.02
LTM Dividend per Share0.240.240.24
(+) Excess Retained per Share-0.010.010.02
(=) Adjusted Dividend0.230.250.27
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Fair Value$11.94$25.89$57.35
Upside / Downside46.70%218.02%604.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)586.01624.10664.67707.87753.88802.88826.97
Payout Ratio83.84%85.07%86.30%87.54%88.77%90.00%92.50%
Projected Dividends (M)491.31530.93573.63619.64669.20722.59764.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)489.08493.72498.35
Year 2 PV (M)486.76496.03505.39
Year 3 PV (M)484.35498.26512.43
Year 4 PV (M)481.86500.39519.45
Year 5 PV (M)479.29502.44526.48
PV of Terminal Value (M)11,180.7811,720.8212,281.53
Equity Value (M)13,602.1414,211.6614,843.63
Shares Outstanding (M)2,032.282,032.282,032.28
Fair Value$6.69$6.99$7.30
Upside / Downside-17.78%-14.09%-10.27%

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