Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shangri-La Asia Limited (0069.HK)

Company Dividend Discount ModelIndustry: Travel LodgingSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1.24 - $2.51$1.73
Multi-Stage$5.91 - $6.53$6.22
Blended Fair Value$3.97
Current Price$0.54
Upside630.68%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.00%8.57%0.030.000.000.000.000.030.020.020.010.01
YoY Growth--0.00%0.00%0.00%0.00%-100.00%15.73%35.84%40.03%-9.09%25.77%
Dividend Yield--3.75%0.00%0.00%0.00%0.00%2.72%1.65%0.80%1.22%1.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)272.08
(-) Cash Dividends Paid (M)91.65
(=) Cash Retained (M)180.43
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)54.4234.0120.41
Cash Retained (M)180.43180.43180.43
(-) Cash Required (M)-54.42-34.01-20.41
(=) Excess Retained (M)126.01146.42160.02
(/) Shares Outstanding (M)3,585.313,585.313,585.31
(=) Excess Retained per Share0.040.040.04
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.040.040.04
(=) Adjusted Dividend0.060.070.07
WACC / Discount Rate3.16%3.16%3.16%
Growth Rate-1.66%-0.66%0.34%
Fair Value$1.24$1.73$2.51
Upside / Downside128.21%218.31%360.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)272.08270.29268.52266.76265.01263.27271.17
Payout Ratio33.68%44.95%56.21%67.47%78.74%90.00%92.50%
Projected Dividends (M)91.65121.49150.94179.99208.66236.94250.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate3.16%3.16%3.16%
Growth Rate-1.66%-0.66%0.34%
Year 1 PV (M)116.59117.77118.96
Year 2 PV (M)139.00141.84144.71
Year 3 PV (M)159.07163.98168.98
Year 4 PV (M)176.97184.28191.81
Year 5 PV (M)192.85202.86213.27
PV of Terminal Value (M)20,415.3321,474.6122,577.41
Equity Value (M)21,199.8122,285.3323,415.14
Shares Outstanding (M)3,585.313,585.313,585.31
Fair Value$5.91$6.22$6.53
Upside / Downside987.38%1,043.06%1,101.01%

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