Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hwa Fong Rubber (Thailand) Public Company Limited (HFT.BK)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$65.38 - $77.10$72.22
Multi-Stage$44.73 - $49.33$46.98
Blended Fair Value$59.60
Current Price$4.20
Upside1,319.05%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS30.87%14.39%0.570.380.420.310.140.150.200.100.200.15
YoY Growth--51.49%-10.60%34.90%117.35%-3.33%-25.05%100.00%-50.00%33.33%0.00%
Dividend Yield--15.51%9.06%7.95%3.79%2.10%6.64%6.75%2.65%3.97%2.95%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)270.18
(-) Cash Dividends Paid (M)2.21
(=) Cash Retained (M)267.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)54.0433.7720.26
Cash Retained (M)267.97267.97267.97
(-) Cash Required (M)-54.04-33.77-20.26
(=) Excess Retained (M)213.93234.20247.71
(/) Shares Outstanding (M)663.76663.76663.76
(=) Excess Retained per Share0.320.350.37
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.320.350.37
(=) Adjusted Dividend0.330.360.38
WACC / Discount Rate-1.91%-1.91%-1.91%
Growth Rate0.38%1.38%2.38%
Fair Value$65.38$72.22$77.10
Upside / Downside1,456.59%1,619.49%1,735.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)270.18273.92277.71281.55285.44289.39298.08
Payout Ratio0.82%18.65%36.49%54.33%72.16%90.00%92.50%
Projected Dividends (M)2.2151.10101.34152.96205.99260.45275.72

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.91%-1.91%-1.91%
Growth Rate0.38%1.38%2.38%
Year 1 PV (M)51.5852.0952.61
Year 2 PV (M)103.25105.31107.40
Year 3 PV (M)157.30162.05166.89
Year 4 PV (M)213.82222.47231.37
Year 5 PV (M)272.89286.75301.18
PV of Terminal Value (M)28,888.2230,356.0731,882.99
Equity Value (M)29,687.0531,184.7432,742.44
Shares Outstanding (M)663.76663.76663.76
Fair Value$44.73$46.98$49.33
Upside / Downside964.89%1,018.62%1,074.49%

High-Yield Dividend Screener

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