Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Mesnac Co., Ltd. (002073.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$78.26 - $92.20$86.40
Multi-Stage$54.60 - $59.92$57.21
Blended Fair Value$71.81
Current Price$8.98
Upside699.65%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS57.49%3.32%0.160.110.060.030.030.020.080.060.070.12
YoY Growth--49.89%79.63%80.33%9.25%82.66%-80.66%50.35%-22.45%-40.72%7.04%
Dividend Yield--1.75%1.51%0.81%0.52%0.66%0.40%1.34%0.72%0.70%0.96%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)465.84
(-) Cash Dividends Paid (M)145.98
(=) Cash Retained (M)319.86
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)93.1758.2334.94
Cash Retained (M)319.86319.86319.86
(-) Cash Required (M)-93.17-58.23-34.94
(=) Excess Retained (M)226.70261.63284.93
(/) Shares Outstanding (M)1,004.831,004.831,004.83
(=) Excess Retained per Share0.230.260.28
LTM Dividend per Share0.150.150.15
(+) Excess Retained per Share0.230.260.28
(=) Adjusted Dividend0.370.410.43
WACC / Discount Rate1.78%1.78%1.78%
Growth Rate5.50%6.50%7.50%
Fair Value$78.26$86.40$92.20
Upside / Downside771.45%862.19%926.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)465.84496.12528.37562.71599.29638.24657.39
Payout Ratio31.34%43.07%54.80%66.53%78.27%90.00%92.50%
Projected Dividends (M)145.98213.68289.56374.40469.05574.42608.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.78%1.78%1.78%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)207.97209.94211.91
Year 2 PV (M)274.30279.53284.80
Year 3 PV (M)345.21355.12365.22
Year 4 PV (M)420.94437.13453.78
Year 5 PV (M)501.74525.98551.14
PV of Terminal Value (M)53,115.0955,680.5758,344.24
Equity Value (M)54,865.2657,488.2760,211.09
Shares Outstanding (M)1,004.831,004.831,004.83
Fair Value$54.60$57.21$59.92
Upside / Downside508.04%537.11%567.28%

High-Yield Dividend Screener

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