Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sun Art Retail Group Limited (6808.HK)

Company Dividend Discount ModelIndustry: Department StoresSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$6.49 - $7.66$7.17
Multi-Stage$23.18 - $25.70$24.41
Blended Fair Value$15.79
Current Price$1.79
Upside782.19%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120192018201720162015
DPS0.00%0.00%0.180.040.040.000.000.000.000.000.000.00
YoY Growth--324.44%6.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--9.97%3.02%2.11%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)405.00
(-) Cash Dividends Paid (M)173.00
(=) Cash Retained (M)232.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)81.0050.6330.38
Cash Retained (M)232.00232.00232.00
(-) Cash Required (M)-81.00-50.63-30.38
(=) Excess Retained (M)151.00181.38201.63
(/) Shares Outstanding (M)9,540.459,540.459,540.45
(=) Excess Retained per Share0.020.020.02
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.020.020.02
(=) Adjusted Dividend0.030.040.04
WACC / Discount Rate-32.32%-32.32%-32.32%
Growth Rate-4.47%-3.47%-2.47%
Fair Value$6.49$7.17$7.66
Upside / Downside262.50%300.63%327.91%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)405.00390.96377.40364.32351.69339.50349.68
Payout Ratio42.72%52.17%61.63%71.09%80.54%90.00%92.50%
Projected Dividends (M)173.00203.97232.59258.98283.26305.55323.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-32.32%-32.32%-32.32%
Growth Rate-4.47%-3.47%-2.47%
Year 1 PV (M)298.25301.37304.49
Year 2 PV (M)497.29507.75518.33
Year 3 PV (M)809.63835.32861.55
Year 4 PV (M)1,294.821,349.901,406.71
Year 5 PV (M)2,042.242,151.382,265.15
PV of Terminal Value (M)216,193.38227,747.86239,791.17
Equity Value (M)221,135.61232,893.59245,147.40
Shares Outstanding (M)9,540.459,540.459,540.45
Fair Value$23.18$24.41$25.70
Upside / Downside1,194.90%1,263.75%1,335.51%

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