Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wasion Holdings Limited (3393.HK)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$247.66 - $291.78$273.44
Multi-Stage$165.34 - $181.47$173.25
Blended Fair Value$223.35
Current Price$7.61
Upside2,834.92%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.78%4.88%0.260.210.170.170.180.220.200.210.210.19
YoY Growth--23.27%22.39%2.22%-8.50%-18.73%9.45%-0.75%-1.00%7.50%21.43%
Dividend Yield--3.83%5.92%7.40%5.97%9.48%6.59%6.12%6.48%5.58%2.86%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,452.68
(-) Cash Dividends Paid (M)256.82
(=) Cash Retained (M)1,195.86
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)290.54181.58108.95
Cash Retained (M)1,195.861,195.861,195.86
(-) Cash Required (M)-290.54-181.58-108.95
(=) Excess Retained (M)905.331,014.281,086.91
(/) Shares Outstanding (M)990.13990.13990.13
(=) Excess Retained per Share0.911.021.10
LTM Dividend per Share0.260.260.26
(+) Excess Retained per Share0.911.021.10
(=) Adjusted Dividend1.171.281.36
WACC / Discount Rate2.64%2.64%2.64%
Growth Rate5.50%6.50%7.50%
Fair Value$247.66$273.44$291.78
Upside / Downside3,154.36%3,493.19%3,734.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,452.681,547.101,647.661,754.761,868.821,990.302,050.01
Payout Ratio17.68%32.14%46.61%61.07%75.54%90.00%92.50%
Projected Dividends (M)256.82497.29767.931,071.661,411.631,791.271,896.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.64%2.64%2.64%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)479.97484.52489.06
Year 2 PV (M)715.37728.99742.75
Year 3 PV (M)963.53991.191,019.37
Year 4 PV (M)1,224.991,272.101,320.55
Year 5 PV (M)1,500.291,572.751,647.99
PV of Terminal Value (M)158,821.93166,493.09174,457.84
Equity Value (M)163,706.07171,542.63179,677.57
Shares Outstanding (M)990.13990.13990.13
Fair Value$165.34$173.25$181.47
Upside / Downside2,072.64%2,176.64%2,284.61%

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