Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Suzhou W Deane New Power Elec (603312.SS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$36.07 - $79.86$51.98
Multi-Stage$26.73 - $29.16$27.92
Blended Fair Value$39.95
Current Price$50.81
Upside-21.37%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS262.51%0.00%0.670.020.010.010.000.000.000.000.000.00
YoY Growth--3,121.00%64.90%8.17%489.58%84.82%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.66%0.07%0.04%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)290.79
(-) Cash Dividends Paid (M)120.70
(=) Cash Retained (M)170.09
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)58.1636.3521.81
Cash Retained (M)170.09170.09170.09
(-) Cash Required (M)-58.16-36.35-21.81
(=) Excess Retained (M)111.94133.75148.28
(/) Shares Outstanding (M)159.19159.19159.19
(=) Excess Retained per Share0.700.840.93
LTM Dividend per Share0.760.760.76
(+) Excess Retained per Share0.700.840.93
(=) Adjusted Dividend1.461.601.69
WACC / Discount Rate9.77%9.77%9.77%
Growth Rate5.50%6.50%7.50%
Fair Value$36.07$51.98$79.86
Upside / Downside-29.02%2.31%57.17%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)290.79309.69329.82351.26374.09398.41410.36
Payout Ratio41.51%51.20%60.90%70.60%80.30%90.00%92.50%
Projected Dividends (M)120.70158.58200.87248.00300.40358.57379.58

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.77%9.77%9.77%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)143.10144.46145.81
Year 2 PV (M)163.58166.69169.84
Year 3 PV (M)182.24187.47192.80
Year 4 PV (M)199.21206.87214.75
Year 5 PV (M)214.57224.94235.70
PV of Terminal Value (M)3,353.013,514.963,683.11
Equity Value (M)4,255.714,445.394,642.01
Shares Outstanding (M)159.19159.19159.19
Fair Value$26.73$27.92$29.16
Upside / Downside-47.39%-45.04%-42.61%

High-Yield Dividend Screener

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