Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Yangzhou Seashine New Materials Co.,Ltd. (300885.SZ)

Company Dividend Discount ModelIndustry: Manufacturing - Metal FabricationSector: Industrials

Valuation Snapshot

Stable Growth$6.63 - $19.43$10.45
Multi-Stage$10.79 - $11.86$11.32
Blended Fair Value$10.88
Current Price$24.01
Upside-54.68%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS75.21%0.00%0.080.000.000.240.000.000.030.000.000.00
YoY Growth--0.00%0.00%-100.00%0.00%-100.00%-83.80%0.00%0.00%0.00%0.00%
Dividend Yield--0.53%0.00%0.00%1.81%0.00%0.03%0.18%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)68.11
(-) Cash Dividends Paid (M)30.00
(=) Cash Retained (M)38.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)13.628.515.11
Cash Retained (M)38.1038.1038.10
(-) Cash Required (M)-13.62-8.51-5.11
(=) Excess Retained (M)24.4829.5933.00
(/) Shares Outstanding (M)250.07250.07250.07
(=) Excess Retained per Share0.100.120.13
LTM Dividend per Share0.120.120.12
(+) Excess Retained per Share0.100.120.13
(=) Adjusted Dividend0.220.240.25
WACC / Discount Rate5.23%5.23%5.23%
Growth Rate1.88%2.88%3.88%
Fair Value$6.63$10.45$19.43
Upside / Downside-72.38%-56.49%-19.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)68.1170.0772.0974.1676.3078.5080.85
Payout Ratio44.05%53.24%62.43%71.62%80.81%90.00%92.50%
Projected Dividends (M)30.0037.3045.0053.1261.6670.6574.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.23%5.23%5.23%
Growth Rate1.88%2.88%3.88%
Year 1 PV (M)35.1135.4535.80
Year 2 PV (M)39.8640.6441.44
Year 3 PV (M)44.2745.5946.93
Year 4 PV (M)48.3650.2952.27
Year 5 PV (M)52.1554.7657.47
PV of Terminal Value (M)2,478.862,602.922,731.91
Equity Value (M)2,698.602,829.662,965.82
Shares Outstanding (M)250.07250.07250.07
Fair Value$10.79$11.32$11.86
Upside / Downside-55.05%-52.87%-50.60%

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