Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

China Jushi Co., Ltd. (600176.SS)

Company Dividend Discount ModelIndustry: Construction MaterialsSector: Basic Materials

Valuation Snapshot

Stable Growth$26.27 - $113.05$45.55
Multi-Stage$21.72 - $23.79$22.74
Blended Fair Value$34.14
Current Price$17.34
Upside96.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.66%5.47%0.360.630.570.290.280.330.290.290.200.21
YoY Growth---43.14%9.29%96.84%3.23%-14.01%11.63%0.12%48.48%-4.21%-1.29%
Dividend Yield--2.75%5.58%3.91%1.91%1.68%4.74%2.97%2.58%3.07%3.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,479.80
(-) Cash Dividends Paid (M)1,206.17
(=) Cash Retained (M)2,273.63
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)695.96434.98260.99
Cash Retained (M)2,273.632,273.632,273.63
(-) Cash Required (M)-695.96-434.98-260.99
(=) Excess Retained (M)1,577.671,838.662,012.65
(/) Shares Outstanding (M)4,003.184,003.184,003.18
(=) Excess Retained per Share0.390.460.50
LTM Dividend per Share0.300.300.30
(+) Excess Retained per Share0.390.460.50
(=) Adjusted Dividend0.700.760.80
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate4.07%5.07%6.07%
Fair Value$26.27$45.55$113.05
Upside / Downside51.52%162.70%551.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,479.803,656.163,841.454,036.144,240.694,455.614,589.28
Payout Ratio34.66%45.73%56.80%67.86%78.93%90.00%92.50%
Projected Dividends (M)1,206.171,671.952,181.842,739.123,347.284,010.054,245.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.82%6.82%6.82%
Growth Rate4.07%5.07%6.07%
Year 1 PV (M)1,550.271,565.161,580.06
Year 2 PV (M)1,875.821,912.041,948.61
Year 3 PV (M)2,183.552,247.112,311.88
Year 4 PV (M)2,474.172,570.652,669.92
Year 5 PV (M)2,748.352,882.963,022.79
PV of Terminal Value (M)76,115.1879,843.1483,715.75
Equity Value (M)86,947.3491,021.0595,249.01
Shares Outstanding (M)4,003.184,003.184,003.18
Fair Value$21.72$22.74$23.79
Upside / Downside25.26%31.13%37.22%

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