Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hang Zhou Radical Energy-Saving Technology Co., Ltd. (300652.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$252.05 - $296.96$278.30
Multi-Stage$214.07 - $235.00$224.34
Blended Fair Value$251.32
Current Price$59.97
Upside319.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.90%12.30%0.470.370.270.510.200.340.080.010.170.04
YoY Growth--26.15%39.63%-47.97%151.57%-39.45%307.84%599.09%-92.99%318.72%-72.70%
Dividend Yield--1.43%1.97%1.53%3.25%1.41%2.29%0.47%0.06%0.74%0.18%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)164.82
(-) Cash Dividends Paid (M)15.60
(=) Cash Retained (M)149.22
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)32.9620.6012.36
Cash Retained (M)149.22149.22149.22
(-) Cash Required (M)-32.96-20.60-12.36
(=) Excess Retained (M)116.26128.62136.86
(/) Shares Outstanding (M)110.38110.38110.38
(=) Excess Retained per Share1.051.171.24
LTM Dividend per Share0.140.140.14
(+) Excess Retained per Share1.051.171.24
(=) Adjusted Dividend1.191.311.38
WACC / Discount Rate-2.25%-2.25%-2.25%
Growth Rate5.50%6.50%7.50%
Fair Value$252.05$278.30$296.96
Upside / Downside320.30%364.06%395.18%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)164.82175.53186.94199.10212.04225.82232.59
Payout Ratio9.46%25.57%41.68%57.79%73.89%90.00%92.50%
Projected Dividends (M)15.6044.8877.91115.05156.68203.24215.15

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-2.25%-2.25%-2.25%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)45.4945.9246.35
Year 2 PV (M)80.0381.5583.09
Year 3 PV (M)119.75123.19126.70
Year 4 PV (M)165.28171.64178.18
Year 5 PV (M)217.28227.78238.68
PV of Terminal Value (M)23,001.9124,112.9125,266.43
Equity Value (M)23,629.7524,762.9925,939.42
Shares Outstanding (M)110.38110.38110.38
Fair Value$214.07$224.34$235.00
Upside / Downside256.97%274.09%291.86%

High-Yield Dividend Screener

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