Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shaoxing Xingxin New Materials Co Ltd (001358.SZ)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$81.07 - $95.65$89.58
Multi-Stage$155.60 - $171.97$163.62
Blended Fair Value$126.60
Current Price$31.86
Upside297.37%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.860.010.020.270.220.000.000.000.000.00
YoY Growth--7,382.12%-30.59%-93.81%20.10%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.81%0.04%0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)63.62
(-) Cash Dividends Paid (M)60.68
(=) Cash Retained (M)2.94
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)12.727.954.77
Cash Retained (M)2.942.942.94
(-) Cash Required (M)-12.72-7.95-4.77
(=) Excess Retained (M)-9.78-5.01-1.83
(/) Shares Outstanding (M)123.04123.04123.04
(=) Excess Retained per Share-0.08-0.04-0.01
LTM Dividend per Share0.490.490.49
(+) Excess Retained per Share-0.08-0.04-0.01
(=) Adjusted Dividend0.410.450.48
WACC / Discount Rate-21.64%-21.64%-21.64%
Growth Rate-2.00%-1.00%0.00%
Fair Value$81.07$89.58$95.65
Upside / Downside154.47%181.16%200.23%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)63.6262.9862.3561.7361.1160.5062.32
Payout Ratio95.37%94.30%93.22%92.15%91.07%90.00%92.50%
Projected Dividends (M)60.6859.3958.1356.8855.6654.4557.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-21.64%-21.64%-21.64%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)75.0375.7976.56
Year 2 PV (M)92.7794.6796.59
Year 3 PV (M)114.68118.23121.85
Year 4 PV (M)141.76147.63153.69
Year 5 PV (M)175.20184.32193.82
PV of Terminal Value (M)18,546.5619,512.3320,517.91
Equity Value (M)19,145.9920,132.9721,160.41
Shares Outstanding (M)123.04123.04123.04
Fair Value$155.60$163.62$171.97
Upside / Downside388.40%413.57%439.78%

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