Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Zhejiang Tion Vanly Tech Co (603210.SS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$32.28 - $135.02$81.86
Multi-Stage$65.49 - $72.39$68.87
Blended Fair Value$75.36
Current Price$20.80
Upside262.33%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020
DPS0.00%0.00%0.050.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.18%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)202.05
(-) Cash Dividends Paid (M)10.12
(=) Cash Retained (M)191.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)40.4125.2615.15
Cash Retained (M)191.93191.93191.93
(-) Cash Required (M)-40.41-25.26-15.15
(=) Excess Retained (M)151.52166.68176.78
(/) Shares Outstanding (M)276.84276.84276.84
(=) Excess Retained per Share0.550.600.64
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.550.600.64
(=) Adjusted Dividend0.580.640.68
WACC / Discount Rate-0.23%-0.23%-0.23%
Growth Rate-2.00%-1.00%0.00%
Fair Value$32.28$81.86$135.02
Upside / Downside55.21%293.55%549.13%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)202.05200.03198.03196.05194.09192.14197.91
Payout Ratio5.01%22.01%39.00%56.00%73.00%90.00%92.50%
Projected Dividends (M)10.1244.0277.24109.79141.69172.93183.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-0.23%-0.23%-0.23%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)43.6744.1244.56
Year 2 PV (M)76.0377.5979.17
Year 3 PV (M)107.23110.54113.93
Year 4 PV (M)137.29142.98148.85
Year 5 PV (M)166.26174.91183.93
PV of Terminal Value (M)17,599.9518,516.4319,470.68
Equity Value (M)18,130.4319,066.5720,041.12
Shares Outstanding (M)276.84276.84276.84
Fair Value$65.49$68.87$72.39
Upside / Downside214.86%231.11%248.04%

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