Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Zhejiang Wellsun Intelligent Technology Co.,Ltd. (300882.SZ)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$102.15 - $120.40$112.81
Multi-Stage$76.98 - $84.66$80.75
Blended Fair Value$96.78
Current Price$19.19
Upside404.32%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS664.17%0.00%0.430.140.040.170.000.000.050.000.090.00
YoY Growth--200.21%300.00%-78.33%0.00%-100.00%-99.97%6,143.11%-99.08%0.00%0.00%
Dividend Yield--2.73%0.90%0.28%1.47%0.00%0.00%0.26%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)175.21
(-) Cash Dividends Paid (M)14.35
(=) Cash Retained (M)160.86
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)35.0421.9013.14
Cash Retained (M)160.86160.86160.86
(-) Cash Required (M)-35.04-21.90-13.14
(=) Excess Retained (M)125.82138.96147.72
(/) Shares Outstanding (M)283.41283.41283.41
(=) Excess Retained per Share0.440.490.52
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.440.490.52
(=) Adjusted Dividend0.490.540.57
WACC / Discount Rate-1.57%-1.57%-1.57%
Growth Rate3.27%4.27%5.27%
Fair Value$102.15$112.81$120.40
Upside / Downside432.32%487.86%527.42%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)175.21182.70190.50198.63207.12215.96222.44
Payout Ratio8.19%24.55%40.91%57.28%73.64%90.00%92.50%
Projected Dividends (M)14.3544.8577.94113.77152.52194.37205.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.57%-1.57%-1.57%
Growth Rate3.27%4.27%5.27%
Year 1 PV (M)45.1345.5746.01
Year 2 PV (M)78.9080.4481.99
Year 3 PV (M)115.89119.29122.75
Year 4 PV (M)156.32162.46168.78
Year 5 PV (M)200.44210.33220.62
PV of Terminal Value (M)21,218.7922,266.2123,354.60
Equity Value (M)21,815.4722,884.3123,994.75
Shares Outstanding (M)283.41283.41283.41
Fair Value$76.98$80.75$84.66
Upside / Downside301.12%320.77%341.19%

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