Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Whirlpool China Co., Ltd. (600983.SS)

Company Dividend Discount ModelIndustry: Furnishings, Fixtures & AppliancesSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$6.72 - $11.07$8.65
Multi-Stage$21.37 - $23.59$22.45
Blended Fair Value$15.55
Current Price$10.22
Upside52.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.39%3.48%0.080.710.000.000.050.050.090.100.370.05
YoY Growth---88.97%46,790,243.08%-11.29%-100.00%0.00%-42.36%-17.38%-71.96%648.80%-10.09%
Dividend Yield--0.80%8.16%0.00%0.00%0.66%0.79%1.18%1.62%3.53%0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)465.50
(-) Cash Dividends Paid (M)89.08
(=) Cash Retained (M)376.41
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)93.1058.1934.91
Cash Retained (M)376.41376.41376.41
(-) Cash Required (M)-93.10-58.19-34.91
(=) Excess Retained (M)283.31318.23341.50
(/) Shares Outstanding (M)771.58771.58771.58
(=) Excess Retained per Share0.370.410.44
LTM Dividend per Share0.120.120.12
(+) Excess Retained per Share0.370.410.44
(=) Adjusted Dividend0.480.530.56
WACC / Discount Rate5.04%5.04%5.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$6.72$8.65$11.07
Upside / Downside-34.28%-15.36%8.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)465.50460.84456.23451.67447.15442.68455.96
Payout Ratio19.14%33.31%47.48%61.65%75.83%90.00%92.50%
Projected Dividends (M)89.08153.51216.63278.48339.07398.41421.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.04%5.04%5.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)144.66146.14147.61
Year 2 PV (M)192.39196.33200.32
Year 3 PV (M)233.06240.27247.63
Year 4 PV (M)267.42278.51289.93
Year 5 PV (M)296.13311.55327.60
PV of Terminal Value (M)15,353.2116,152.6916,985.13
Equity Value (M)16,486.8717,325.4818,198.22
Shares Outstanding (M)771.58771.58771.58
Fair Value$21.37$22.45$23.59
Upside / Downside109.08%119.71%130.78%

High-Yield Dividend Screener

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