Definitive Analysis
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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Actions Technology Co., Ltd. (688049.SS)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$9.59 - $14.11$11.76
Multi-Stage$13.02 - $14.31$13.65
Blended Fair Value$12.71
Current Price$62.21
Upside-79.57%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS48.64%0.00%0.160.160.000.000.000.020.020.030.000.00
YoY Growth--0.27%0.00%0.00%0.00%-100.00%20.44%-44.83%0.00%0.00%0.00%
Dividend Yield--0.40%0.81%0.00%0.00%0.00%0.04%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)187.32
(-) Cash Dividends Paid (M)0.05
(=) Cash Retained (M)187.27
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.4623.4114.05
Cash Retained (M)187.27187.27187.27
(-) Cash Required (M)-37.46-23.41-14.05
(=) Excess Retained (M)149.81163.85173.22
(/) Shares Outstanding (M)154.53154.53154.53
(=) Excess Retained per Share0.971.061.12
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.971.061.12
(=) Adjusted Dividend0.971.061.12
WACC / Discount Rate9.66%9.66%9.66%
Growth Rate-0.41%0.59%1.59%
Fair Value$9.59$11.76$14.11
Upside / Downside-84.59%-81.10%-77.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)187.32188.42189.54190.66191.79192.92198.71
Payout Ratio0.03%18.02%36.02%54.01%72.01%90.00%92.50%
Projected Dividends (M)0.0533.9568.26102.98138.10173.63183.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.66%9.66%9.66%
Growth Rate-0.41%0.59%1.59%
Year 1 PV (M)30.6530.9631.27
Year 2 PV (M)55.6456.7657.90
Year 3 PV (M)75.7878.0880.43
Year 4 PV (M)91.7495.4899.34
Year 5 PV (M)104.14109.47115.02
PV of Terminal Value (M)1,654.331,739.071,827.25
Equity Value (M)2,012.282,109.832,211.21
Shares Outstanding (M)154.53154.53154.53
Fair Value$13.02$13.65$14.31
Upside / Downside-79.07%-78.05%-77.00%

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