Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

WuXi Xinje Electric Co.,Ltd. (603416.SS)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$117.28 - $324.74$304.33
Multi-Stage$46.18 - $50.49$48.30
Blended Fair Value$176.31
Current Price$63.05
Upside179.64%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.72%14.27%0.220.180.250.270.160.150.140.130.080.12
YoY Growth--26.56%-30.77%-7.14%75.00%6.67%5.63%10.44%64.38%-35.40%101.79%
Dividend Yield--0.37%0.58%0.58%0.84%0.21%0.42%0.47%0.39%0.19%0.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)234.45
(-) Cash Dividends Paid (M)138.88
(=) Cash Retained (M)95.57
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)46.8929.3117.58
Cash Retained (M)95.5795.5795.57
(-) Cash Required (M)-46.89-29.31-17.58
(=) Excess Retained (M)48.6866.2677.99
(/) Shares Outstanding (M)143.58143.58143.58
(=) Excess Retained per Share0.340.460.54
LTM Dividend per Share0.970.970.97
(+) Excess Retained per Share0.340.460.54
(=) Adjusted Dividend1.311.431.51
WACC / Discount Rate6.68%6.68%6.68%
Growth Rate5.50%6.50%7.50%
Fair Value$117.28$304.33$324.74
Upside / Downside86.01%382.69%415.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)234.45249.69265.92283.21301.62321.22330.86
Payout Ratio59.24%65.39%71.54%77.69%83.85%90.00%92.50%
Projected Dividends (M)138.88163.27190.25220.04252.90289.10306.04

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.68%6.68%6.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)151.62153.05154.49
Year 2 PV (M)164.06167.18170.34
Year 3 PV (M)176.20181.26186.42
Year 4 PV (M)188.06195.29202.73
Year 5 PV (M)199.64209.28219.29
PV of Terminal Value (M)5,750.606,028.356,316.74
Equity Value (M)6,630.186,934.437,250.01
Shares Outstanding (M)143.58143.58143.58
Fair Value$46.18$48.30$50.49
Upside / Downside-26.76%-23.40%-19.91%

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