Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

YoungQin International Co., Ltd. (2755.TWO)

Company Dividend Discount ModelIndustry: RestaurantsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$239.19 - $1,088.00$547.95
Multi-Stage$126.97 - $138.75$132.76
Blended Fair Value$340.35
Current Price$123.64
Upside175.28%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS22.11%0.00%2.950.961.091.090.491.090.000.000.000.00
YoY Growth--208.25%-12.00%0.00%122.22%-54.95%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.91%1.19%1.28%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)200.94
(-) Cash Dividends Paid (M)108.50
(=) Cash Retained (M)92.44
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)40.1925.1215.07
Cash Retained (M)92.4492.4492.44
(-) Cash Required (M)-40.19-25.12-15.07
(=) Excess Retained (M)52.2567.3277.37
(/) Shares Outstanding (M)36.7336.7336.73
(=) Excess Retained per Share1.421.832.11
LTM Dividend per Share2.952.952.95
(+) Excess Retained per Share1.421.832.11
(=) Adjusted Dividend4.384.795.06
WACC / Discount Rate7.43%7.43%7.43%
Growth Rate5.50%6.50%7.50%
Fair Value$239.19$547.95$1,088.00
Upside / Downside93.46%343.18%779.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)200.94214.01227.92242.73258.51275.31283.57
Payout Ratio54.00%61.20%68.40%75.60%82.80%90.00%92.50%
Projected Dividends (M)108.50130.97155.89183.50214.04247.78262.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.43%7.43%7.43%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)120.76121.91123.05
Year 2 PV (M)132.55135.07137.62
Year 3 PV (M)143.87148.00152.21
Year 4 PV (M)154.74160.69166.81
Year 5 PV (M)165.17173.15181.44
PV of Terminal Value (M)3,946.744,137.364,335.29
Equity Value (M)4,663.834,876.195,096.42
Shares Outstanding (M)36.7336.7336.73
Fair Value$126.97$132.76$138.75
Upside / Downside2.70%7.37%12.22%

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