Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Guanghui Energy Co., Ltd. (600256.SS)

Company Dividend Discount ModelIndustry: Oil & Gas IntegratedSector: Energy

Valuation Snapshot

Stable Growth$9.94 - $50.74$17.84
Multi-Stage$5.97 - $6.53$6.25
Blended Fair Value$12.04
Current Price$5.04
Upside138.93%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS50.63%17.74%0.820.810.410.180.170.110.050.020.220.04
YoY Growth--1.39%98.01%128.18%4.82%61.51%101.69%115.05%-88.76%434.00%-74.64%
Dividend Yield--13.47%11.02%4.41%2.18%5.50%4.09%1.18%0.64%5.09%0.99%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,970.33
(-) Cash Dividends Paid (M)515.03
(=) Cash Retained (M)1,455.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)394.07246.29147.77
Cash Retained (M)1,455.301,455.301,455.30
(-) Cash Required (M)-394.07-246.29-147.77
(=) Excess Retained (M)1,061.231,209.011,307.53
(/) Shares Outstanding (M)6,433.426,433.426,433.42
(=) Excess Retained per Share0.160.190.20
LTM Dividend per Share0.080.080.08
(+) Excess Retained per Share0.160.190.20
(=) Adjusted Dividend0.250.270.28
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate5.50%6.50%7.50%
Fair Value$9.94$17.84$50.74
Upside / Downside97.24%253.87%906.73%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,970.332,098.402,234.802,380.062,534.762,699.522,780.51
Payout Ratio26.14%38.91%51.68%64.46%77.23%90.00%92.50%
Projected Dividends (M)515.03816.521,155.021,534.081,957.542,429.572,571.97

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)748.24755.33762.43
Year 2 PV (M)969.94988.411,007.06
Year 3 PV (M)1,180.531,214.421,248.95
Year 4 PV (M)1,380.441,433.521,488.13
Year 5 PV (M)1,570.041,645.871,724.61
PV of Terminal Value (M)32,588.1234,162.1435,796.40
Equity Value (M)38,437.3140,199.7042,027.58
Shares Outstanding (M)6,433.426,433.426,433.42
Fair Value$5.97$6.25$6.53
Upside / Downside18.54%23.98%29.62%

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