Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Persistence Resources Group Ltd (2489.HK)

Company Dividend Discount ModelIndustry: GoldSector: Basic Materials

Valuation Snapshot

Stable Growth$0.51 - $0.78$0.63
Multi-Stage$1.14 - $1.25$1.19
Blended Fair Value$0.91
Current Price$1.42
Upside-35.67%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.030.010.020.000.000.000.000.000.000.00
YoY Growth--129.73%-39.75%1,811.80%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.65%1.55%3.97%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)110.24
(-) Cash Dividends Paid (M)53.82
(=) Cash Retained (M)56.42
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.0513.788.27
Cash Retained (M)56.4256.4256.42
(-) Cash Required (M)-22.05-13.78-8.27
(=) Excess Retained (M)34.3742.6448.15
(/) Shares Outstanding (M)2,000.002,000.002,000.00
(=) Excess Retained per Share0.020.020.02
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share0.020.020.02
(=) Adjusted Dividend0.040.050.05
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate-2.00%-1.00%0.00%
Fair Value$0.51$0.63$0.78
Upside / Downside-64.31%-55.33%-45.00%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)110.24109.14108.04106.96105.89104.84107.98
Payout Ratio48.82%57.06%65.29%73.53%81.76%90.00%92.50%
Projected Dividends (M)53.8262.2770.5578.6586.5894.3599.88

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.53%6.53%6.53%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)57.8758.4659.05
Year 2 PV (M)60.9262.1763.43
Year 3 PV (M)63.1165.0667.05
Year 4 PV (M)64.5667.2369.99
Year 5 PV (M)65.3768.7872.32
PV of Terminal Value (M)1,961.612,063.752,170.11
Equity Value (M)2,273.422,385.442,501.95
Shares Outstanding (M)2,000.002,000.002,000.00
Fair Value$1.14$1.19$1.25
Upside / Downside-19.95%-16.01%-11.90%

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