Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Taiwan Fu Hsing Industrial Co.,Ltd. (9924.TW)

Company Dividend Discount ModelIndustry: Security & Protection ServicesSector: Industrials

Valuation Snapshot

Stable Growth$36.26 - $59.60$46.64
Multi-Stage$69.91 - $76.64$73.21
Blended Fair Value$59.93
Current Price$56.00
Upside7.01%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.56%4.14%3.032.932.432.632.632.432.022.832.832.02
YoY Growth--3.45%20.83%-7.69%0.00%8.33%20.00%-28.57%0.00%40.00%0.00%
Dividend Yield--4.67%4.31%4.42%4.81%4.44%5.38%4.23%6.14%5.40%3.60%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)600.32
(-) Cash Dividends Paid (M)584.20
(=) Cash Retained (M)16.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)120.0675.0445.02
Cash Retained (M)16.1216.1216.12
(-) Cash Required (M)-120.06-75.04-45.02
(=) Excess Retained (M)-103.94-58.92-28.90
(/) Shares Outstanding (M)186.44186.44186.44
(=) Excess Retained per Share-0.56-0.32-0.16
LTM Dividend per Share3.133.133.13
(+) Excess Retained per Share-0.56-0.32-0.16
(=) Adjusted Dividend2.582.822.98
WACC / Discount Rate6.78%6.78%6.78%
Growth Rate-0.31%0.69%1.69%
Fair Value$36.26$46.64$59.60
Upside / Downside-35.25%-16.71%6.42%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)600.32604.49608.68612.90617.15621.43640.07
Payout Ratio97.31%95.85%94.39%92.93%91.46%90.00%92.50%
Projected Dividends (M)584.20579.41574.52569.54564.46559.29592.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.78%6.78%6.78%
Growth Rate-0.31%0.69%1.69%
Year 1 PV (M)537.25542.64548.03
Year 2 PV (M)493.96503.92513.98
Year 3 PV (M)454.05467.85481.93
Year 4 PV (M)417.26434.25451.76
Year 5 PV (M)383.35402.97423.38
PV of Terminal Value (M)10,747.4111,297.3611,869.59
Equity Value (M)13,033.2813,648.9814,288.66
Shares Outstanding (M)186.44186.44186.44
Fair Value$69.91$73.21$76.64
Upside / Downside24.83%30.73%36.86%

High-Yield Dividend Screener

« Prev Page 28 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
U96.SISembcorp Industries Ltd5.19%$0.3229.05%
CIN.AXCarlton Investments Limited5.18%$1.7961.04%
MERK.JKPT Merck Tbk5.18%$170.3142.74%
0QQ2.LGeberit AG5.17%$25.4271.02%
2640.TWOTaiwan Taxi Co.,Ltd.5.17%$7.0177.56%
603508.SSHenan Thinker Automatic Equipment Co., Ltd.5.17%$1.4488.86%
RICHT.BDChemical Works5.17%$509.8341.05%
FPT.BKFrasers Property (Thailand) Public Company Limited5.16%$0.3140.49%
YSON.FSonae, SGPS, S.A.5.16%$0.0960.40%
0QS5.LBossard Holding AG5.15%$7.9044.91%
2341.HKEcoGreen International Group Limited5.15%$0.109.70%
4942.TWChia Chang Co., Ltd5.15%$1.9967.15%
601555.SSSoochow Securities Co., Ltd.5.15%$0.4766.76%
601686.SSTianjin You Fa Steel Pipe Group Stock Co., Ltd.5.15%$0.3256.09%
6979.HKZJLD Group Inc5.15%$0.4556.09%
3118.TWOLevel Biotechnology Inc.5.14%$1.7080.08%
ALTOU.PATouax5.14%$0.2220.71%
BE8.BKBeryl 8 Plus Public Company Limited5.14%$0.2475.69%
KEG-UN.TOThe Keg Royalties Income Fund5.14%$0.9684.63%
QEWS.QAQatar Electricity & Water Company Q.P.S.C.5.14%$0.7767.87%
6805.HKKimou Environmental Holding Limited5.13%$0.1360.10%
9521.SRInmar Company for Real Estate Development and Investment5.13%$1.0024.60%
MTI.BKMuang Thai Insurance Public Company Limited5.13%$0.8045.07%
3218.TWOUniversal Vision Biotechnology Co., Ltd.5.12%$7.4771.57%
600694.SSDashang Co., Ltd.5.12%$0.9263.22%
601877.SSZhejiang Chint Electrics Co., Ltd.5.12%$1.4367.03%
GL9.IRGlanbia plc5.12%$0.7450.22%
STBP3.SASantos Brasil Participações S.A.5.12%$0.7478.31%
WSU.DEWashTec AG5.12%$2.4092.47%
0RUJ.LDelta Plus Group5.11%$2.4829.42%
2887.TWTS Financial Holding Co., Ltd.5.11%$1.0493.64%
3003.SRCity Cement Company5.11%$0.6566.06%
ALVU.PAVente-Unique.com S.A.5.11%$0.7945.95%
CAML3.SACamil Alimentos S.A.5.11%$0.2860.82%
RECTRectitude Holdings Ltd Ordinary Shares5.11%$0.0926.70%
603518.SSJinhong Fashion Group Co.,Ltd.5.10%$0.4966.21%
6242.TWOLi Kang Biomedical Co., Ltd.5.10%$2.0077.54%
ECMPA.ASEurocommercial Properties N.V.5.10%$1.3355.30%
NOMDNomad Foods Limited5.09%$0.6246.03%
2249.TWOYoung Shine Electric Co., Ltd.5.08%$4.7121.31%
ARZZ3.SAArezzo Indústria e Comércio S.A.5.08%$2.6767.63%
CMAN.BKChememan Public Company Limited5.08%$0.1231.80%
LST.BKLam Soon (Thailand) Public Company Limited5.08%$0.2436.51%
VEI.OLVeidekke ASA5.08%$8.9090.00%
013570.KSDY Corporation5.07%$230.5420.72%
086790.KSHana Financial Group Inc.5.07%$4,736.7233.98%
129260.KSIntergis Co., Ltd5.07%$121.3822.66%
CUP-U.TOCaribbean Utilities Company, Ltd.5.07%$0.6964.16%
MMAQ3.SAMinasmaquinas S.A.5.07%$129.2112.04%
QATI.QAQatar Insurance Company Q.S.P.C.5.07%$0.1045.46%