Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Foryou Corporation (002906.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$241.27 - $284.25$266.39
Multi-Stage$202.97 - $222.75$212.68
Blended Fair Value$239.53
Current Price$33.86
Upside607.42%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS266.50%-1.01%0.360.270.210.190.090.000.230.220.280.28
YoY Growth--32.20%29.95%7.54%116.81%16,409.01%-99.76%1.68%-19.42%-2.35%-29.10%
Dividend Yield--1.02%0.97%0.63%0.50%0.32%0.00%1.90%1.01%1.40%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)748.02
(-) Cash Dividends Paid (M)291.99
(=) Cash Retained (M)456.03
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)149.6093.5056.10
Cash Retained (M)456.03456.03456.03
(-) Cash Required (M)-149.60-93.50-56.10
(=) Excess Retained (M)306.42362.53399.93
(/) Shares Outstanding (M)523.35523.35523.35
(=) Excess Retained per Share0.590.690.76
LTM Dividend per Share0.560.560.56
(+) Excess Retained per Share0.590.690.76
(=) Adjusted Dividend1.141.251.32
WACC / Discount Rate-1.97%-1.97%-1.97%
Growth Rate5.50%6.50%7.50%
Fair Value$241.27$266.39$284.25
Upside / Downside612.54%686.73%739.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)748.02796.64848.43903.57962.311,024.861,055.60
Payout Ratio39.04%49.23%59.42%69.61%79.81%90.00%92.50%
Projected Dividends (M)291.99392.17504.15629.02767.99922.37976.43

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.97%-1.97%-1.97%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)396.30400.06403.82
Year 2 PV (M)514.82524.62534.52
Year 3 PV (M)649.09667.73686.71
Year 4 PV (M)800.84831.64863.32
Year 5 PV (M)971.961,018.901,067.65
PV of Terminal Value (M)102,892.53107,862.28113,022.23
Equity Value (M)106,225.54111,305.23116,578.25
Shares Outstanding (M)523.35523.35523.35
Fair Value$202.97$212.68$222.75
Upside / Downside499.45%528.11%557.87%

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