Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Wuhu Token Sciences Co., Ltd. (300088.SZ)

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

Valuation Snapshot

Stable Growth$4.15 - $15.66$6.98
Multi-Stage$2.70 - $2.95$2.82
Blended Fair Value$4.90
Current Price$6.72
Upside-27.06%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-8.22%12.66%0.100.110.060.110.110.150.140.060.060.04
YoY Growth---14.06%90.12%-45.21%-2.81%-25.17%9.48%139.84%-6.89%39.69%48.13%
Dividend Yield--1.60%2.08%0.86%1.35%1.53%1.78%2.24%0.77%0.78%0.81%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)349.34
(-) Cash Dividends Paid (M)194.93
(=) Cash Retained (M)154.41
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)69.8743.6726.20
Cash Retained (M)154.41154.41154.41
(-) Cash Required (M)-69.87-43.67-26.20
(=) Excess Retained (M)84.54110.74128.21
(/) Shares Outstanding (M)2,443.882,443.882,443.88
(=) Excess Retained per Share0.030.050.05
LTM Dividend per Share0.080.080.08
(+) Excess Retained per Share0.030.050.05
(=) Adjusted Dividend0.110.130.13
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate5.50%6.50%7.50%
Fair Value$4.15$6.98$15.66
Upside / Downside-38.25%3.92%133.07%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)349.34372.05396.23421.99449.42478.63492.99
Payout Ratio55.80%62.64%69.48%76.32%83.16%90.00%92.50%
Projected Dividends (M)194.93233.05275.30322.06373.74430.77456.02

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.41%8.41%8.41%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)212.96214.98217.00
Year 2 PV (M)229.88234.26238.68
Year 3 PV (M)245.74252.79259.98
Year 4 PV (M)260.58270.60280.91
Year 5 PV (M)274.45287.70301.47
PV of Terminal Value (M)5,372.785,632.285,901.72
Equity Value (M)6,596.386,892.627,199.75
Shares Outstanding (M)2,443.882,443.882,443.88
Fair Value$2.70$2.82$2.95
Upside / Downside-59.83%-58.03%-56.16%

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