Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

DaShenLin Pharmaceutical Group Co., Ltd. (603233.SS)

Company Dividend Discount ModelIndustry: BiotechnologySector: Healthcare

Valuation Snapshot

Stable Growth$33.33 - $188.95$60.94
Multi-Stage$20.47 - $22.34$21.39
Blended Fair Value$41.16
Current Price$16.49
Upside149.62%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS22.67%8.15%0.620.530.370.470.290.220.230.020.140.02
YoY Growth--16.41%43.83%-21.34%60.32%31.53%-3.56%1,179.78%-87.19%651.77%-93.37%
Dividend Yield--3.76%2.45%1.19%2.25%0.60%0.73%1.23%0.08%1.06%0.14%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,137.63
(-) Cash Dividends Paid (M)719.04
(=) Cash Retained (M)418.58
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)227.53142.2085.32
Cash Retained (M)418.58418.58418.58
(-) Cash Required (M)-227.53-142.20-85.32
(=) Excess Retained (M)191.06276.38333.26
(/) Shares Outstanding (M)1,141.061,141.061,141.06
(=) Excess Retained per Share0.170.240.29
LTM Dividend per Share0.630.630.63
(+) Excess Retained per Share0.170.240.29
(=) Adjusted Dividend0.800.870.92
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.50%6.50%7.50%
Fair Value$33.33$60.94$188.95
Upside / Downside102.12%269.53%1,045.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,137.631,211.571,290.331,374.201,463.521,558.651,605.41
Payout Ratio63.21%68.56%73.92%79.28%84.64%90.00%92.50%
Projected Dividends (M)719.04830.71953.851,089.491,238.741,402.781,485.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.02%8.02%8.02%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)761.78769.00776.22
Year 2 PV (M)802.12817.40832.82
Year 3 PV (M)840.17864.28888.86
Year 4 PV (M)875.99909.68944.33
Year 5 PV (M)909.68953.62999.24
PV of Terminal Value (M)19,165.4520,091.1521,052.28
Equity Value (M)23,355.2024,405.1425,493.75
Shares Outstanding (M)1,141.061,141.061,141.06
Fair Value$20.47$21.39$22.34
Upside / Downside24.12%29.70%35.49%

High-Yield Dividend Screener

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