Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Contemporary Amperex Technology Co., Limited (300750.SZ)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$1,048.67 - $2,859.24$2,679.53
Multi-Stage$404.12 - $442.16$422.79
Blended Fair Value$1,551.16
Current Price$402.00
Upside285.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS113.30%135.85%5.701.390.360.130.110.130.050.020.010.02
YoY Growth--311.25%286.34%185.07%14.85%-15.13%165.27%164.85%51.96%-22.73%1,362.22%
Dividend Yield--2.25%0.70%0.16%0.04%0.06%0.19%0.10%0.09%0.06%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)63,804.80
(-) Cash Dividends Paid (M)27,562.34
(=) Cash Retained (M)36,242.46
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12,760.967,975.604,785.36
Cash Retained (M)36,242.4636,242.4636,242.46
(-) Cash Required (M)-12,760.96-7,975.60-4,785.36
(=) Excess Retained (M)23,481.5028,266.8631,457.10
(/) Shares Outstanding (M)4,437.964,437.964,437.96
(=) Excess Retained per Share5.296.377.09
LTM Dividend per Share6.216.216.21
(+) Excess Retained per Share5.296.377.09
(=) Adjusted Dividend11.5012.5813.30
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Fair Value$1,048.67$2,679.53$2,859.24
Upside / Downside160.86%566.55%611.25%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)63,804.8067,952.1172,369.0077,072.9882,082.7287,418.1090,040.64
Payout Ratio43.20%52.56%61.92%71.28%80.64%90.00%92.50%
Projected Dividends (M)27,562.3435,714.4944,809.9854,936.9866,191.1778,676.2983,287.60

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.66%6.66%6.66%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)33,170.9233,485.3433,799.75
Year 2 PV (M)38,654.5639,390.8240,134.03
Year 3 PV (M)44,015.3245,278.8446,566.31
Year 4 PV (M)49,255.2151,149.4253,097.76
Year 5 PV (M)54,376.2257,002.6159,729.53
PV of Terminal Value (M)1,574,009.041,650,034.261,728,969.15
Equity Value (M)1,793,481.271,876,341.311,962,296.53
Shares Outstanding (M)4,437.964,437.964,437.96
Fair Value$404.12$422.79$442.16
Upside / Downside0.53%5.17%9.99%

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