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China Conch Venture Holdings Limited (0586.HK)

Company Dividend Discount ModelIndustry: Industrial - Pollution & Treatment ControlsSector: Industrials

Valuation Snapshot

Stable Growth$39.58 - $81.46$55.58
Multi-Stage$51.65 - $56.68$54.11
Blended Fair Value$54.85
Current Price$8.26
Upside564.03%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-10.72%3.35%0.280.380.630.610.610.500.440.270.270.33
YoY Growth---26.07%-38.53%3.08%0.26%20.77%13.24%63.69%0.86%-19.03%61.90%
Dividend Yield--4.54%6.55%4.18%2.19%2.13%1.84%2.42%1.96%2.43%2.75%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,950.83
(-) Cash Dividends Paid (M)1,165.77
(=) Cash Retained (M)2,785.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)790.17493.85296.31
Cash Retained (M)2,785.072,785.072,785.07
(-) Cash Required (M)-790.17-493.85-296.31
(=) Excess Retained (M)1,994.902,291.212,488.75
(/) Shares Outstanding (M)1,742.441,742.441,742.44
(=) Excess Retained per Share1.141.311.43
LTM Dividend per Share0.670.670.67
(+) Excess Retained per Share1.141.311.43
(=) Adjusted Dividend1.811.982.10
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate2.14%3.14%4.14%
Fair Value$39.58$55.58$81.46
Upside / Downside379.13%572.93%886.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,950.834,074.774,202.604,334.434,470.404,610.634,748.95
Payout Ratio29.51%41.61%53.70%65.80%77.90%90.00%92.50%
Projected Dividends (M)1,165.771,695.332,256.972,852.173,482.504,149.574,392.78

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate2.14%3.14%4.14%
Year 1 PV (M)1,571.731,587.111,602.50
Year 2 PV (M)1,939.861,978.032,016.58
Year 3 PV (M)2,272.712,340.122,408.85
Year 4 PV (M)2,572.662,674.912,780.17
Year 5 PV (M)2,841.962,983.833,131.32
PV of Terminal Value (M)78,791.9182,725.3586,814.34
Equity Value (M)89,990.8494,289.3798,753.76
Shares Outstanding (M)1,742.441,742.441,742.44
Fair Value$51.65$54.11$56.68
Upside / Downside525.26%555.13%586.14%

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