Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Streamax Technology Co., Ltd. (002970.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$41.57 - $99.27$61.47
Multi-Stage$30.22 - $32.97$31.57
Blended Fair Value$46.52
Current Price$47.66
Upside-2.39%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS134.78%22.60%0.780.240.130.510.410.010.270.160.110.09
YoY Growth--229.69%78.98%-73.87%24.58%3,614.29%-95.99%67.77%51.87%13.16%-7.06%
Dividend Yield--1.38%0.88%0.53%1.76%0.80%0.02%1.00%0.60%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)343.77
(-) Cash Dividends Paid (M)163.20
(=) Cash Retained (M)180.57
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)68.7542.9725.78
Cash Retained (M)180.57180.57180.57
(-) Cash Required (M)-68.75-42.97-25.78
(=) Excess Retained (M)111.82137.60154.79
(/) Shares Outstanding (M)176.76176.76176.76
(=) Excess Retained per Share0.630.780.88
LTM Dividend per Share0.920.920.92
(+) Excess Retained per Share0.630.780.88
(=) Adjusted Dividend1.561.701.80
WACC / Discount Rate9.45%9.45%9.45%
Growth Rate5.50%6.50%7.50%
Fair Value$41.57$61.47$99.27
Upside / Downside-12.77%28.98%108.28%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)343.77366.11389.91415.25442.25470.99485.12
Payout Ratio47.47%55.98%64.48%72.99%81.49%90.00%92.50%
Projected Dividends (M)163.20204.95251.43303.09360.41423.89448.74

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.45%9.45%9.45%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)185.50187.25189.01
Year 2 PV (M)205.97209.89213.85
Year 3 PV (M)224.73231.18237.75
Year 4 PV (M)241.86251.16260.73
Year 5 PV (M)257.47269.91282.82
PV of Terminal Value (M)4,226.904,431.064,643.03
Equity Value (M)5,342.425,580.455,827.20
Shares Outstanding (M)176.76176.76176.76
Fair Value$30.22$31.57$32.97
Upside / Downside-36.58%-33.76%-30.83%

High-Yield Dividend Screener

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