Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shenzhen Liande Automation Equipment co.,ltd. (300545.SZ)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$131.56 - $155.01$145.26
Multi-Stage$90.10 - $98.88$94.41
Blended Fair Value$119.84
Current Price$32.11
Upside273.20%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.30%94.73%0.220.190.100.190.180.160.150.080.000.08
YoY Growth--17.45%83.57%-45.40%7.30%12.60%5.35%80.94%0.00%-100.00%28,471.43%
Dividend Yield--0.62%0.66%0.48%1.05%0.79%0.58%0.48%0.26%0.00%0.83%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)144.58
(-) Cash Dividends Paid (M)44.65
(=) Cash Retained (M)99.92
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)28.9218.0710.84
Cash Retained (M)99.9299.9299.92
(-) Cash Required (M)-28.92-18.07-10.84
(=) Excess Retained (M)71.0181.8589.08
(/) Shares Outstanding (M)185.49185.49185.49
(=) Excess Retained per Share0.380.440.48
LTM Dividend per Share0.240.240.24
(+) Excess Retained per Share0.380.440.48
(=) Adjusted Dividend0.620.680.72
WACC / Discount Rate2.16%2.16%2.16%
Growth Rate5.50%6.50%7.50%
Fair Value$131.56$145.26$155.01
Upside / Downside309.73%352.39%382.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)144.58153.97163.98174.64185.99198.08204.02
Payout Ratio30.89%42.71%54.53%66.35%78.18%90.00%92.50%
Projected Dividends (M)44.6565.7689.42115.88145.40178.27188.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.16%2.16%2.16%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)63.7664.3764.97
Year 2 PV (M)84.0885.6887.30
Year 3 PV (M)105.65108.68111.77
Year 4 PV (M)128.55133.49138.57
Year 5 PV (M)152.82160.20167.87
PV of Terminal Value (M)16,178.0616,959.4717,770.78
Equity Value (M)16,712.9217,511.8918,341.27
Shares Outstanding (M)185.49185.49185.49
Fair Value$90.10$94.41$98.88
Upside / Downside180.60%194.01%207.94%

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