Definitive Analysis
Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

YoungQin International Co., Ltd. (2755.TWO)

Company Dividend Discount ModelIndustry: RestaurantsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$372.03 - $1,088.00$1,019.61
Multi-Stage$151.33 - $165.50$158.29
Blended Fair Value$588.95
Current Price$123.64
Upside376.34%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS22.11%0.00%2.950.961.091.090.491.090.000.000.000.00
YoY Growth--208.25%-12.00%0.00%122.22%-54.95%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.91%1.19%1.28%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)200.94
(-) Cash Dividends Paid (M)108.50
(=) Cash Retained (M)92.44
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)40.1925.1215.07
Cash Retained (M)92.4492.4492.44
(-) Cash Required (M)-40.19-25.12-15.07
(=) Excess Retained (M)52.2567.3277.37
(/) Shares Outstanding (M)36.7336.7336.73
(=) Excess Retained per Share1.421.832.11
LTM Dividend per Share2.952.952.95
(+) Excess Retained per Share1.421.832.11
(=) Adjusted Dividend4.384.795.06
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate5.50%6.50%7.50%
Fair Value$372.03$1,019.61$1,088.00
Upside / Downside200.90%724.66%779.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)200.94214.01227.92242.73258.51275.31283.57
Payout Ratio54.00%61.20%68.40%75.60%82.80%90.00%92.50%
Projected Dividends (M)108.50130.97155.89183.50214.04247.78262.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.74%6.74%6.74%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)121.54122.70123.85
Year 2 PV (M)134.26136.82139.40
Year 3 PV (M)146.67150.88155.17
Year 4 PV (M)158.78164.88171.16
Year 5 PV (M)170.58178.82187.37
PV of Terminal Value (M)4,826.765,059.905,301.96
Equity Value (M)5,558.605,814.006,078.91
Shares Outstanding (M)36.7336.7336.73
Fair Value$151.33$158.29$165.50
Upside / Downside22.40%28.02%33.86%

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