Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shenzhen JPT Opto-Electronics Co., Ltd. (688025.SS)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$415.55 - $489.58$458.81
Multi-Stage$338.64 - $371.71$354.87
Blended Fair Value$406.84
Current Price$141.37
Upside187.78%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS67.72%45.45%0.370.290.330.160.230.030.210.020.010.06
YoY Growth--26.57%-11.71%102.03%-30.50%745.86%-86.48%827.13%113.89%-82.75%590.36%
Dividend Yield--0.64%0.58%0.63%0.34%0.66%0.07%0.35%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)233.18
(-) Cash Dividends Paid (M)41.21
(=) Cash Retained (M)191.98
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)46.6429.1517.49
Cash Retained (M)191.98191.98191.98
(-) Cash Required (M)-46.64-29.15-17.49
(=) Excess Retained (M)145.34162.83174.49
(/) Shares Outstanding (M)94.7294.7294.72
(=) Excess Retained per Share1.531.721.84
LTM Dividend per Share0.440.440.44
(+) Excess Retained per Share1.531.721.84
(=) Adjusted Dividend1.972.152.28
WACC / Discount Rate-1.41%-1.41%-1.41%
Growth Rate5.50%6.50%7.50%
Fair Value$415.55$458.81$489.58
Upside / Downside193.94%224.55%246.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)233.18248.34264.48281.67299.98319.48329.07
Payout Ratio17.67%32.14%46.60%61.07%75.53%90.00%92.50%
Projected Dividends (M)41.2179.81123.26172.01226.59287.53304.39

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.41%-1.41%-1.41%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)80.1980.9581.71
Year 2 PV (M)124.44126.81129.20
Year 3 PV (M)174.49179.50184.60
Year 4 PV (M)230.95239.83248.97
Year 5 PV (M)294.47308.69323.46
PV of Terminal Value (M)31,172.4432,678.0834,241.34
Equity Value (M)32,076.9733,613.8635,209.28
Shares Outstanding (M)94.7294.7294.72
Fair Value$338.64$354.87$371.71
Upside / Downside139.54%151.02%162.94%

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