Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Canature Health Technology Co., Ltd. (300272.SZ)

Company Dividend Discount ModelIndustry: Industrial - Pollution & Treatment ControlsSector: Industrials

Valuation Snapshot

Stable Growth$5.94 - $32.64$11.47
Multi-Stage$3.57 - $3.89$3.73
Blended Fair Value$7.60
Current Price$6.46
Upside17.62%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.91%20.60%0.310.140.120.070.070.160.090.080.060.03
YoY Growth--132.19%11.86%71.00%-3.22%-53.39%76.12%13.44%38.54%85.11%-36.60%
Dividend Yield--4.78%2.43%2.05%0.98%1.56%3.56%1.17%1.19%0.78%0.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)94.76
(-) Cash Dividends Paid (M)78.36
(=) Cash Retained (M)16.41
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.9511.857.11
Cash Retained (M)16.4116.4116.41
(-) Cash Required (M)-18.95-11.85-7.11
(=) Excess Retained (M)-2.554.569.30
(/) Shares Outstanding (M)577.34577.34577.34
(=) Excess Retained per Share0.000.010.02
LTM Dividend per Share0.140.140.14
(+) Excess Retained per Share0.000.010.02
(=) Adjusted Dividend0.130.140.15
WACC / Discount Rate7.83%7.83%7.83%
Growth Rate5.50%6.50%7.50%
Fair Value$5.94$11.47$32.64
Upside / Downside-8.11%77.53%405.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)94.76100.92107.48114.47121.91129.83133.73
Payout Ratio82.69%84.15%85.61%87.07%88.54%90.00%92.50%
Projected Dividends (M)78.3684.9392.0299.67107.94116.85123.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.83%7.83%7.83%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)78.0278.7679.50
Year 2 PV (M)77.6679.1380.63
Year 3 PV (M)77.2779.4981.75
Year 4 PV (M)76.8779.8382.87
Year 5 PV (M)76.4580.1483.98
PV of Terminal Value (M)1,674.291,755.161,839.13
Equity Value (M)2,060.562,152.512,247.84
Shares Outstanding (M)577.34577.34577.34
Fair Value$3.57$3.73$3.89
Upside / Downside-44.75%-42.29%-39.73%

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