Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Fujian Septwolves Industry Co., Ltd. (002029.SZ)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$7.44 - $12.21$9.56
Multi-Stage$15.03 - $16.55$15.77
Blended Fair Value$12.67
Current Price$8.03
Upside57.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.48%1.23%0.130.010.070.100.110.110.110.110.110.11
YoY Growth--2,292.54%-92.50%-32.68%-6.41%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.98%0.09%1.19%1.89%2.08%2.14%1.44%1.23%1.07%1.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)451.78
(-) Cash Dividends Paid (M)67.56
(=) Cash Retained (M)384.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)90.3656.4733.88
Cash Retained (M)384.21384.21384.21
(-) Cash Required (M)-90.36-56.47-33.88
(=) Excess Retained (M)293.86327.74350.33
(/) Shares Outstanding (M)679.13679.13679.13
(=) Excess Retained per Share0.430.480.52
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.430.480.52
(=) Adjusted Dividend0.530.580.62
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-0.77%0.23%1.23%
Fair Value$7.44$9.56$12.21
Upside / Downside-7.40%19.06%52.03%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)451.78452.83453.88454.93455.99457.04470.75
Payout Ratio14.96%29.96%44.97%59.98%74.99%90.00%92.50%
Projected Dividends (M)67.56135.69204.12272.88341.95411.34435.45

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.33%6.33%6.33%
Growth Rate-0.77%0.23%1.23%
Year 1 PV (M)126.33127.60128.88
Year 2 PV (M)176.94180.53184.15
Year 3 PV (M)220.23226.96233.82
Year 4 PV (M)256.95267.46278.30
Year 5 PV (M)287.78302.57317.97
PV of Terminal Value (M)9,136.249,605.9610,094.81
Equity Value (M)10,204.4710,711.0911,237.92
Shares Outstanding (M)679.13679.13679.13
Fair Value$15.03$15.77$16.55
Upside / Downside87.12%96.41%106.07%

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