Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

MH Robot & Automation Co., Ltd. (301199.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$19.38 - $59.68$30.96
Multi-Stage$66.97 - $74.02$70.43
Blended Fair Value$50.69
Current Price$27.42
Upside84.88%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS0.00%0.00%0.060.060.070.000.000.000.000.010.040.00
YoY Growth--0.00%-12.50%0.00%0.00%0.00%0.00%-100.00%-82.55%0.00%0.00%
Dividend Yield--0.27%0.38%0.41%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)117.54
(-) Cash Dividends Paid (M)13.33
(=) Cash Retained (M)104.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)23.5114.698.82
Cash Retained (M)104.21104.21104.21
(-) Cash Required (M)-23.51-14.69-8.82
(=) Excess Retained (M)80.7089.5295.39
(/) Shares Outstanding (M)146.68146.68146.68
(=) Excess Retained per Share0.550.610.65
LTM Dividend per Share0.090.090.09
(+) Excess Retained per Share0.550.610.65
(=) Adjusted Dividend0.640.700.74
WACC / Discount Rate1.24%1.24%1.24%
Growth Rate-2.00%-1.00%0.00%
Fair Value$19.38$30.96$59.68
Upside / Downside-29.33%12.91%117.64%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)117.54116.37115.20114.05112.91111.78115.13
Payout Ratio11.34%27.08%42.81%58.54%74.27%90.00%92.50%
Projected Dividends (M)13.3331.5149.3166.7683.86100.60106.50

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.24%1.24%1.24%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)30.8131.1231.43
Year 2 PV (M)47.1448.1149.09
Year 3 PV (M)62.4164.3466.30
Year 4 PV (M)76.6479.8283.09
Year 5 PV (M)89.9094.5899.46
PV of Terminal Value (M)9,516.9510,012.5210,528.52
Equity Value (M)9,823.8510,330.4910,857.90
Shares Outstanding (M)146.68146.68146.68
Fair Value$66.97$70.43$74.02
Upside / Downside144.25%156.85%169.96%

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