Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Beibu Gulf Port Co., Ltd. (000582.SZ)

Company Dividend Discount ModelIndustry: Marine ShippingSector: Industrials

Valuation Snapshot

Stable Growth$6.28 - $10.96$8.28
Multi-Stage$6.45 - $7.03$6.74
Blended Fair Value$7.51
Current Price$8.42
Upside-10.86%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS43.23%2.29%0.480.130.140.130.120.080.070.100.030.03
YoY Growth--265.58%-5.99%7.90%5.09%54.71%16.58%-29.18%280.64%-1.28%-93.30%
Dividend Yield--5.64%1.63%1.84%1.72%1.16%0.87%0.71%1.12%0.19%0.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,091.85
(-) Cash Dividends Paid (M)666.71
(=) Cash Retained (M)425.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)218.37136.4881.89
Cash Retained (M)425.14425.14425.14
(-) Cash Required (M)-218.37-136.48-81.89
(=) Excess Retained (M)206.77288.65343.25
(/) Shares Outstanding (M)2,343.242,343.242,343.24
(=) Excess Retained per Share0.090.120.15
LTM Dividend per Share0.280.280.28
(+) Excess Retained per Share0.090.120.15
(=) Adjusted Dividend0.370.410.43
WACC / Discount Rate9.76%9.76%9.76%
Growth Rate3.61%4.61%5.61%
Fair Value$6.28$8.28$10.96
Upside / Downside-25.46%-1.72%30.14%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,091.851,142.181,194.821,249.891,307.501,367.771,408.80
Payout Ratio61.06%66.85%72.64%78.43%84.21%90.00%92.50%
Projected Dividends (M)666.71763.55867.89980.231,101.081,230.991,303.14

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.76%9.76%9.76%
Growth Rate3.61%4.61%5.61%
Year 1 PV (M)688.98695.63702.28
Year 2 PV (M)706.66720.36734.20
Year 3 PV (M)720.18741.24762.70
Year 4 PV (M)729.97758.56787.99
Year 5 PV (M)736.40772.63810.27
PV of Terminal Value (M)11,526.5312,093.6212,682.81
Equity Value (M)15,108.7215,782.0516,480.26
Shares Outstanding (M)2,343.242,343.242,343.24
Fair Value$6.45$6.74$7.03
Upside / Downside-23.42%-20.01%-16.47%

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