Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Yan Tat Group Holdings Limited (1480.HK)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$2.80 - $3.95$3.37
Multi-Stage$5.05 - $5.54$5.29
Blended Fair Value$4.33
Current Price$1.00
Upside332.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.76%0.00%0.100.120.060.060.000.060.000.000.000.05
YoY Growth---16.67%100.00%0.00%0.00%-100.00%0.00%0.00%0.00%-100.00%0.00%
Dividend Yield--9.80%11.54%5.45%4.41%0.00%3.23%0.00%0.00%0.00%2.10%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107.02
(-) Cash Dividends Paid (M)52.80
(=) Cash Retained (M)54.22
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.4013.388.03
Cash Retained (M)54.2254.2254.22
(-) Cash Required (M)-21.40-13.38-8.03
(=) Excess Retained (M)32.8240.8546.20
(/) Shares Outstanding (M)240.00240.00240.00
(=) Excess Retained per Share0.140.170.19
LTM Dividend per Share0.220.220.22
(+) Excess Retained per Share0.140.170.19
(=) Adjusted Dividend0.360.390.41
WACC / Discount Rate8.96%8.96%8.96%
Growth Rate-3.34%-2.34%-1.34%
Fair Value$2.80$3.37$3.95
Upside / Downside180.14%236.94%294.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107.02104.51102.0699.6797.3395.0597.90
Payout Ratio49.33%57.47%65.60%73.73%81.87%90.00%92.50%
Projected Dividends (M)52.8060.0666.9573.4979.6885.5590.56

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.96%8.96%8.96%
Growth Rate-3.34%-2.34%-1.34%
Year 1 PV (M)54.5655.1255.69
Year 2 PV (M)55.2456.3957.55
Year 3 PV (M)55.0856.8058.57
Year 4 PV (M)54.2456.5258.88
Year 5 PV (M)52.9055.6958.60
PV of Terminal Value (M)938.95988.541,040.20
Equity Value (M)1,210.971,269.071,329.48
Shares Outstanding (M)240.00240.00240.00
Fair Value$5.05$5.29$5.54
Upside / Downside404.57%428.78%453.95%

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