Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wuhan DR Laser Technology Corp.,Ltd (300776.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$397.05 - $467.79$438.39
Multi-Stage$276.78 - $303.79$290.03
Blended Fair Value$364.21
Current Price$72.91
Upside399.54%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS25.64%0.00%0.380.310.310.290.120.120.000.080.000.00
YoY Growth--21.49%2.59%4.66%140.00%0.00%0.00%-100.00%0.00%0.00%0.00%
Dividend Yield--0.57%0.68%0.45%0.31%0.27%0.43%0.00%0.41%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)640.29
(-) Cash Dividends Paid (M)106.27
(=) Cash Retained (M)534.02
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)128.0680.0448.02
Cash Retained (M)534.02534.02534.02
(-) Cash Required (M)-128.06-80.04-48.02
(=) Excess Retained (M)405.96453.98486.00
(/) Shares Outstanding (M)272.21272.21272.21
(=) Excess Retained per Share1.491.671.79
LTM Dividend per Share0.390.390.39
(+) Excess Retained per Share1.491.671.79
(=) Adjusted Dividend1.882.062.18
WACC / Discount Rate1.74%1.74%1.74%
Growth Rate5.50%6.50%7.50%
Fair Value$397.05$438.39$467.79
Upside / Downside444.58%501.28%541.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)640.29681.91726.23773.44823.71877.25903.57
Payout Ratio16.60%31.28%45.96%60.64%75.32%90.00%92.50%
Projected Dividends (M)106.27213.29333.77469.01620.42789.53835.80

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.74%1.74%1.74%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)207.67209.64211.61
Year 2 PV (M)316.41322.44328.52
Year 3 PV (M)432.91445.34458.00
Year 4 PV (M)557.58579.02601.08
Year 5 PV (M)690.87724.24758.88
PV of Terminal Value (M)73,136.0576,668.5580,336.25
Equity Value (M)75,341.4978,949.2282,694.34
Shares Outstanding (M)272.21272.21272.21
Fair Value$276.78$290.03$303.79
Upside / Downside279.62%297.79%316.66%

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