Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Gala Technology Holding Limited (2458.HK)

Company Dividend Discount ModelIndustry: Electronic Gaming & MultimediaSector: Technology

Valuation Snapshot

Stable Growth$79.91 - $253.76$237.81
Multi-Stage$33.30 - $36.47$34.85
Blended Fair Value$136.33
Current Price$4.33
Upside3,048.57%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS25.29%0.00%0.180.000.000.590.150.060.000.000.000.00
YoY Growth--0.00%0.00%-100.00%300.00%150.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--5.83%0.00%0.00%12.63%3.05%1.15%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)172.76
(-) Cash Dividends Paid (M)24.70
(=) Cash Retained (M)148.06
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)34.5521.6012.96
Cash Retained (M)148.06148.06148.06
(-) Cash Required (M)-34.55-21.60-12.96
(=) Excess Retained (M)113.51126.47135.10
(/) Shares Outstanding (M)135.39135.39135.39
(=) Excess Retained per Share0.840.931.00
LTM Dividend per Share0.180.180.18
(+) Excess Retained per Share0.840.931.00
(=) Adjusted Dividend1.021.121.18
WACC / Discount Rate6.85%6.85%6.85%
Growth Rate5.50%6.50%7.50%
Fair Value$79.91$237.81$253.76
Upside / Downside1,745.59%5,392.23%5,760.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)172.76183.99195.95208.69222.25236.70243.80
Payout Ratio14.30%29.44%44.58%59.72%74.86%90.00%92.50%
Projected Dividends (M)24.7054.1687.35124.63166.38213.03225.51

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.85%6.85%6.85%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)50.2250.6951.17
Year 2 PV (M)75.0876.5177.96
Year 3 PV (M)99.32102.17105.07
Year 4 PV (M)122.93127.65132.52
Year 5 PV (M)145.92152.97160.29
PV of Terminal Value (M)4,014.864,208.774,410.11
Equity Value (M)4,508.324,718.774,937.12
Shares Outstanding (M)135.39135.39135.39
Fair Value$33.30$34.85$36.47
Upside / Downside669.01%704.90%742.15%

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