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Suga International Holdings Limited (0912.HK)

Company Dividend Discount ModelIndustry: Consumer ElectronicsSector: Technology

Valuation Snapshot

Stable Growth$1.53 - $2.20$1.86
Multi-Stage$4.35 - $4.80$4.57
Blended Fair Value$3.21
Current Price$1.29
Upside149.02%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS-7.70%-5.70%0.080.110.110.170.080.120.140.150.150.15
YoY Growth---27.27%0.00%-35.29%113.48%-33.33%-14.07%-6.45%1.76%0.06%1.43%
Dividend Yield--7.34%8.53%8.03%10.97%4.71%8.72%7.09%6.38%4.98%6.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)65.18
(-) Cash Dividends Paid (M)45.57
(=) Cash Retained (M)19.61
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.048.154.89
Cash Retained (M)19.6119.6119.61
(-) Cash Required (M)-13.04-8.15-4.89
(=) Excess Retained (M)6.5711.4614.72
(/) Shares Outstanding (M)284.79284.79284.79
(=) Excess Retained per Share0.020.040.05
LTM Dividend per Share0.160.160.16
(+) Excess Retained per Share0.020.040.05
(=) Adjusted Dividend0.180.200.21
WACC / Discount Rate6.37%6.37%6.37%
Growth Rate-4.99%-3.99%-2.99%
Fair Value$1.53$1.86$2.20
Upside / Downside18.76%43.93%70.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)65.1862.5860.0957.6955.3953.1854.78
Payout Ratio69.91%73.93%77.95%81.97%85.98%90.00%92.50%
Projected Dividends (M)45.5746.2746.8447.2947.6347.8650.67

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.37%6.37%6.37%
Growth Rate-4.99%-3.99%-2.99%
Year 1 PV (M)43.0443.5043.95
Year 2 PV (M)40.5441.3942.26
Year 3 PV (M)38.0839.2940.53
Year 4 PV (M)35.6837.2038.78
Year 5 PV (M)33.3635.1537.02
PV of Terminal Value (M)1,048.081,104.411,163.13
Equity Value (M)1,238.771,300.951,365.67
Shares Outstanding (M)284.79284.79284.79
Fair Value$4.35$4.57$4.80
Upside / Downside237.19%254.12%271.73%

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