Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Harbin Boshi Automation Co., Ltd. (002698.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$81.38 - $95.88$89.85
Multi-Stage$57.63 - $63.23$60.38
Blended Fair Value$75.12
Current Price$17.45
Upside330.47%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS21.91%18.24%0.250.250.250.200.180.090.050.050.050.05
YoY Growth--0.54%0.00%25.00%11.11%92.86%75.00%14.29%0.00%-0.83%0.00%
Dividend Yield--1.42%1.49%1.53%1.96%1.27%1.03%0.74%0.84%0.59%0.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)493.62
(-) Cash Dividends Paid (M)256.35
(=) Cash Retained (M)237.28
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)98.7261.7037.02
Cash Retained (M)237.28237.28237.28
(-) Cash Required (M)-98.72-61.70-37.02
(=) Excess Retained (M)138.55175.57200.26
(/) Shares Outstanding (M)1,023.881,023.881,023.88
(=) Excess Retained per Share0.140.170.20
LTM Dividend per Share0.250.250.25
(+) Excess Retained per Share0.140.170.20
(=) Adjusted Dividend0.390.420.45
WACC / Discount Rate1.55%1.55%1.55%
Growth Rate5.50%6.50%7.50%
Fair Value$81.38$89.85$95.88
Upside / Downside366.36%414.92%449.45%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)493.62525.71559.88596.27635.03676.31696.60
Payout Ratio51.93%59.55%67.16%74.77%82.39%90.00%92.50%
Projected Dividends (M)256.35313.04376.01445.85523.18608.68644.35

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.55%1.55%1.55%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)305.37308.26311.16
Year 2 PV (M)357.81364.63371.51
Year 3 PV (M)413.88425.76437.86
Year 4 PV (M)473.76491.98510.72
Year 5 PV (M)537.68563.65590.61
PV of Terminal Value (M)56,919.2959,668.5262,522.96
Equity Value (M)59,007.7961,822.7964,744.82
Shares Outstanding (M)1,023.881,023.881,023.88
Fair Value$57.63$60.38$63.23
Upside / Downside230.27%246.02%262.38%

High-Yield Dividend Screener

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