Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dufu Technology Corp. Berhad (7233.KL)

Company Dividend Discount ModelIndustry: Manufacturing - Metal FabricationSector: Industrials

Valuation Snapshot

Stable Growth$0.37 - $0.59$0.47
Multi-Stage$0.80 - $0.88$0.84
Blended Fair Value$0.66
Current Price$1.24
Upside-47.17%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS29.40%0.00%0.030.050.070.060.040.010.020.020.010.00
YoY Growth---36.23%-26.54%31.94%37.46%327.07%-55.09%24.40%29.06%0.00%0.00%
Dividend Yield--3.24%3.04%3.55%1.95%1.08%0.58%2.70%5.07%3.82%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)19.48
(-) Cash Dividends Paid (M)18.63
(=) Cash Retained (M)0.85
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)3.902.431.46
Cash Retained (M)0.850.850.85
(-) Cash Required (M)-3.90-2.43-1.46
(=) Excess Retained (M)-3.05-1.59-0.61
(/) Shares Outstanding (M)532.36532.36532.36
(=) Excess Retained per Share-0.010.000.00
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share-0.010.000.00
(=) Adjusted Dividend0.030.030.03
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate-1.17%-0.17%0.83%
Fair Value$0.37$0.47$0.59
Upside / Downside-69.96%-61.90%-52.26%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)19.4819.4519.4119.3819.3519.3119.89
Payout Ratio95.65%94.52%93.39%92.26%91.13%90.00%92.50%
Projected Dividends (M)18.6318.3818.1317.8817.6317.3818.40

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate-1.17%-0.17%0.83%
Year 1 PV (M)17.0717.2417.41
Year 2 PV (M)15.6415.9516.28
Year 3 PV (M)14.3214.7615.21
Year 4 PV (M)13.1213.6614.21
Year 5 PV (M)12.0112.6313.28
PV of Terminal Value (M)353.48371.73390.73
Equity Value (M)425.64445.97467.11
Shares Outstanding (M)532.36532.36532.36
Fair Value$0.80$0.84$0.88
Upside / Downside-35.52%-32.44%-29.24%

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