Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jiangsu Hongtian Technology Co.,Ltd. (603800.SS)

Company Dividend Discount ModelIndustry: Oil & Gas Equipment & ServicesSector: Energy

Valuation Snapshot

Stable Growth$4.90 - $7.86$6.24
Multi-Stage$10.04 - $11.05$10.53
Blended Fair Value$8.39
Current Price$49.08
Upside-82.91%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-13.12%11.37%0.290.310.090.100.590.590.160.000.120.26
YoY Growth---6.65%241.05%-4.85%-83.84%1.16%272.22%0.00%-100.00%-54.58%166.55%
Dividend Yield--0.85%1.31%0.32%0.36%6.50%4.60%1.12%0.00%0.37%0.96%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)94.29
(-) Cash Dividends Paid (M)34.25
(=) Cash Retained (M)60.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)18.8611.797.07
Cash Retained (M)60.0460.0460.04
(-) Cash Required (M)-18.86-11.79-7.07
(=) Excess Retained (M)41.1948.2652.97
(/) Shares Outstanding (M)201.40201.40201.40
(=) Excess Retained per Share0.200.240.26
LTM Dividend per Share0.170.170.17
(+) Excess Retained per Share0.200.240.26
(=) Adjusted Dividend0.370.410.43
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate-1.04%-0.04%0.96%
Fair Value$4.90$6.24$7.86
Upside / Downside-90.01%-87.28%-83.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)94.2994.2594.2194.1794.1394.0996.91
Payout Ratio36.32%47.06%57.79%68.53%79.26%90.00%92.50%
Projected Dividends (M)34.2544.3554.4564.5374.6184.6889.64

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.52%6.52%6.52%
Growth Rate-1.04%-0.04%0.96%
Year 1 PV (M)41.2241.6442.05
Year 2 PV (M)47.0347.9948.95
Year 3 PV (M)51.8153.4055.02
Year 4 PV (M)55.6757.9660.31
Year 5 PV (M)58.7361.7564.91
PV of Terminal Value (M)1,767.601,858.741,953.59
Equity Value (M)2,022.062,121.472,224.83
Shares Outstanding (M)201.40201.40201.40
Fair Value$10.04$10.53$11.05
Upside / Downside-79.54%-78.54%-77.49%

High-Yield Dividend Screener

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