Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wens Foodstuff Group Co., Ltd. (300498.SZ)

Company Dividend Discount ModelIndustry: Agricultural Farm ProductsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$63.54 - $234.73$193.74
Multi-Stage$29.62 - $32.41$30.99
Blended Fair Value$112.37
Current Price$18.61
Upside503.79%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-13.17%10.80%0.330.310.260.341.110.670.350.650.600.11
YoY Growth--5.79%21.55%-25.06%-68.94%64.88%93.84%-46.53%8.71%428.85%-5.19%
Dividend Yield--1.99%1.62%1.26%1.56%6.56%2.50%0.97%3.74%2.62%0.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)8,077.87
(-) Cash Dividends Paid (M)2,731.00
(=) Cash Retained (M)5,346.87
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,615.571,009.73605.84
Cash Retained (M)5,346.875,346.875,346.87
(-) Cash Required (M)-1,615.57-1,009.73-605.84
(=) Excess Retained (M)3,731.304,337.144,741.03
(/) Shares Outstanding (M)6,842.626,842.626,842.62
(=) Excess Retained per Share0.550.630.69
LTM Dividend per Share0.400.400.40
(+) Excess Retained per Share0.550.630.69
(=) Adjusted Dividend0.941.031.09
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate5.48%6.48%7.48%
Fair Value$63.54$193.74$234.73
Upside / Downside241.44%941.05%1,161.29%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)8,077.878,601.109,158.219,751.4210,383.0411,055.5811,387.25
Payout Ratio33.81%45.05%56.29%67.52%78.76%90.00%92.50%
Projected Dividends (M)2,731.003,874.515,154.716,584.498,177.869,950.0210,533.20

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.04%7.04%7.04%
Growth Rate5.48%6.48%7.48%
Year 1 PV (M)3,585.533,619.523,653.51
Year 2 PV (M)4,414.444,498.544,583.43
Year 3 PV (M)5,218.305,368.135,520.80
Year 4 PV (M)5,997.676,228.376,465.67
Year 5 PV (M)6,753.097,079.347,418.08
PV of Terminal Value (M)176,735.23185,273.48194,138.59
Equity Value (M)202,704.25212,067.38221,780.07
Shares Outstanding (M)6,842.626,842.626,842.62
Fair Value$29.62$30.99$32.41
Upside / Downside59.18%66.53%74.16%

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