Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Guangzhou Jet Bio-Filtration Co., Ltd. (688026.SS)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$18.48 - $90.75$32.91
Multi-Stage$10.96 - $11.99$11.46
Blended Fair Value$22.19
Current Price$18.67
Upside18.83%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%9.84%0.090.080.440.090.360.000.090.010.000.02
YoY Growth--8.84%-81.21%390.90%-75.46%0.00%-100.00%1,335.03%0.00%-100.00%-41.53%
Dividend Yield--0.61%0.68%1.91%0.20%0.85%0.00%0.24%0.02%0.00%0.05%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)79.32
(-) Cash Dividends Paid (M)5.67
(=) Cash Retained (M)73.66
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.869.925.95
Cash Retained (M)73.6673.6673.66
(-) Cash Required (M)-15.86-9.92-5.95
(=) Excess Retained (M)57.7963.7467.71
(/) Shares Outstanding (M)137.71137.71137.71
(=) Excess Retained per Share0.420.460.49
LTM Dividend per Share0.040.040.04
(+) Excess Retained per Share0.420.460.49
(=) Adjusted Dividend0.460.500.53
WACC / Discount Rate8.13%8.13%8.13%
Growth Rate5.50%6.50%7.50%
Fair Value$18.48$32.91$90.75
Upside / Downside-1.03%76.26%386.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)79.3284.4889.9795.82102.05108.68111.94
Payout Ratio7.15%23.72%40.29%56.86%73.43%90.00%92.50%
Projected Dividends (M)5.6720.0436.2554.4874.9397.81103.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.13%8.13%8.13%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)18.3618.5318.70
Year 2 PV (M)30.4231.0031.59
Year 3 PV (M)41.8943.0944.32
Year 4 PV (M)52.7854.8156.90
Year 5 PV (M)63.1266.1769.33
PV of Terminal Value (M)1,302.191,365.081,430.38
Equity Value (M)1,508.751,578.681,651.22
Shares Outstanding (M)137.71137.71137.71
Fair Value$10.96$11.46$11.99
Upside / Downside-41.32%-38.60%-35.78%

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