Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Xianheng International Science&Technology Co., Ltd. (605056.SS)

Company Dividend Discount ModelIndustry: Manufacturing - Tools & AccessoriesSector: Industrials

Valuation Snapshot

Stable Growth$4.73 - $6.95$5.80
Multi-Stage$8.70 - $9.55$9.12
Blended Fair Value$7.46
Current Price$16.22
Upside-54.02%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS-13.33%0.00%0.150.350.340.390.300.300.280.140.000.00
YoY Growth---57.34%3.31%-14.62%30.03%-0.05%6.21%107.15%0.00%0.00%0.00%
Dividend Yield--1.07%2.46%2.68%2.73%1.54%1.54%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)254.34
(-) Cash Dividends Paid (M)146.11
(=) Cash Retained (M)108.23
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)50.8731.7919.08
Cash Retained (M)108.23108.23108.23
(-) Cash Required (M)-50.87-31.79-19.08
(=) Excess Retained (M)57.3676.4389.15
(/) Shares Outstanding (M)417.83417.83417.83
(=) Excess Retained per Share0.140.180.21
LTM Dividend per Share0.350.350.35
(+) Excess Retained per Share0.140.180.21
(=) Adjusted Dividend0.490.530.56
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$4.73$5.80$6.95
Upside / Downside-70.86%-64.26%-57.12%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)254.34251.80249.28246.79244.32241.87249.13
Payout Ratio57.45%63.96%70.47%76.98%83.49%90.00%92.50%
Projected Dividends (M)146.11161.05175.66189.97203.98217.69230.45

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.10%8.10%8.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)147.48148.98150.49
Year 2 PV (M)147.31150.33153.39
Year 3 PV (M)145.89150.40155.01
Year 4 PV (M)143.45149.40155.53
Year 5 PV (M)140.19147.49155.10
PV of Terminal Value (M)2,912.033,063.663,221.55
Equity Value (M)3,636.363,810.283,991.05
Shares Outstanding (M)417.83417.83417.83
Fair Value$8.70$9.12$9.55
Upside / Downside-46.34%-43.78%-41.11%

High-Yield Dividend Screener

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