Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Guizhou RedStar Developing Co.,Ltd. (600367.SS)

Company Dividend Discount ModelIndustry: ChemicalsSector: Basic Materials

Valuation Snapshot

Stable Growth$69.75 - $82.20$77.03
Multi-Stage$159.78 - $175.67$167.58
Blended Fair Value$122.30
Current Price$17.47
Upside600.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-13.21%0.73%0.030.090.110.030.050.060.040.030.020.05
YoY Growth---68.19%-11.14%203.95%-32.67%-14.86%42.24%34.65%85.92%-63.12%66.36%
Dividend Yield--0.20%0.85%0.70%0.15%0.66%0.86%0.46%0.31%0.13%0.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)138.97
(-) Cash Dividends Paid (M)8.07
(=) Cash Retained (M)130.89
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)27.7917.3710.42
Cash Retained (M)130.89130.89130.89
(-) Cash Required (M)-27.79-17.37-10.42
(=) Excess Retained (M)103.10113.52120.47
(/) Shares Outstanding (M)331.65331.65331.65
(=) Excess Retained per Share0.310.340.36
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.310.340.36
(=) Adjusted Dividend0.340.370.39
WACC / Discount Rate-20.82%-20.82%-20.82%
Growth Rate4.05%5.05%6.05%
Fair Value$69.75$77.03$82.20
Upside / Downside299.28%340.91%370.54%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)138.97145.98153.34161.08169.21177.74183.08
Payout Ratio5.81%22.65%39.49%56.32%73.16%90.00%92.50%
Projected Dividends (M)8.0733.0660.5590.73123.79159.97169.35

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-20.82%-20.82%-20.82%
Growth Rate4.05%5.05%6.05%
Year 1 PV (M)41.3641.7642.15
Year 2 PV (M)94.7696.5998.44
Year 3 PV (M)177.62182.79188.06
Year 4 PV (M)303.20315.02327.19
Year 5 PV (M)490.13514.14539.08
PV of Terminal Value (M)51,885.5954,427.4057,067.85
Equity Value (M)52,992.6655,577.6958,262.78
Shares Outstanding (M)331.65331.65331.65
Fair Value$159.78$167.58$175.67
Upside / Downside814.61%859.23%905.57%

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