Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Cashway Fintech Co.,Ltd. (603106.SS)

Company Dividend Discount ModelIndustry: Business Equipment & SuppliesSector: Industrials

Valuation Snapshot

Stable Growth$1.17 - $1.65$1.41
Multi-Stage$1.74 - $1.91$1.82
Blended Fair Value$1.61
Current Price$10.23
Upside-84.22%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.050.000.040.010.020.020.03
YoY Growth---100.00%13.10%-97.10%0.00%-100.00%163.87%-29.27%-21.92%-16.11%-42.50%
Dividend Yield--0.00%0.02%0.02%0.69%0.00%0.67%0.15%0.16%0.29%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)93.73
(-) Cash Dividends Paid (M)15.62
(=) Cash Retained (M)78.11
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.7511.727.03
Cash Retained (M)78.1178.1178.11
(-) Cash Required (M)-18.75-11.72-7.03
(=) Excess Retained (M)59.3766.4071.08
(/) Shares Outstanding (M)527.64527.64527.64
(=) Excess Retained per Share0.110.130.13
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.110.130.13
(=) Adjusted Dividend0.140.160.16
WACC / Discount Rate9.94%9.94%9.94%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.17$1.41$1.65
Upside / Downside-88.60%-86.25%-83.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)93.7392.7991.8690.9490.0389.1391.81
Payout Ratio16.66%31.33%46.00%60.66%75.33%90.00%92.50%
Projected Dividends (M)15.6229.0742.2555.1767.8280.2284.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.94%9.94%9.94%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)26.1726.4426.71
Year 2 PV (M)34.2634.9635.67
Year 3 PV (M)40.2841.5242.79
Year 4 PV (M)44.5846.4348.33
Year 5 PV (M)47.4849.9552.53
PV of Terminal Value (M)724.47762.20801.48
Equity Value (M)917.24961.501,007.51
Shares Outstanding (M)527.64527.64527.64
Fair Value$1.74$1.82$1.91
Upside / Downside-83.01%-82.19%-81.33%

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