Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Guangdong Fuxin Technology Co., Ltd. (688662.SS)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$2.99 - $4.19$3.59
Multi-Stage$8.02 - $8.83$8.42
Blended Fair Value$6.00
Current Price$48.52
Upside-87.63%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS-34.54%0.00%0.030.280.420.360.340.270.170.150.000.00
YoY Growth---88.64%-33.79%19.08%4.02%29.08%53.03%15.82%0.00%0.00%0.00%
Dividend Yield--0.08%1.04%1.26%1.15%0.95%0.74%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)43.91
(-) Cash Dividends Paid (M)32.66
(=) Cash Retained (M)11.25
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.785.493.29
Cash Retained (M)11.2511.2511.25
(-) Cash Required (M)-8.78-5.49-3.29
(=) Excess Retained (M)2.475.767.96
(/) Shares Outstanding (M)87.1187.1187.11
(=) Excess Retained per Share0.030.070.09
LTM Dividend per Share0.370.370.37
(+) Excess Retained per Share0.030.070.09
(=) Adjusted Dividend0.400.440.47
WACC / Discount Rate6.89%6.89%6.89%
Growth Rate-5.81%-4.81%-3.81%
Fair Value$2.99$3.59$4.19
Upside / Downside-93.84%-92.60%-91.36%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)43.9141.8039.7937.8836.0534.3235.35
Payout Ratio74.38%77.50%80.63%83.75%86.88%90.00%92.50%
Projected Dividends (M)32.6632.4032.0831.7231.3230.8932.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.89%6.89%6.89%
Growth Rate-5.81%-4.81%-3.81%
Year 1 PV (M)29.9930.3130.63
Year 2 PV (M)27.4928.0828.67
Year 3 PV (M)25.1725.9826.80
Year 4 PV (M)23.0024.0025.02
Year 5 PV (M)21.0022.1423.32
PV of Terminal Value (M)571.57602.56634.88
Equity Value (M)698.22733.06769.33
Shares Outstanding (M)87.1187.1187.11
Fair Value$8.02$8.42$8.83
Upside / Downside-83.48%-82.66%-81.80%

High-Yield Dividend Screener

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