Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Kunshan Huguang Auto Harness Co.,Ltd. (605333.SS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$52.99 - $292.81$102.01
Multi-Stage$31.40 - $34.36$32.85
Blended Fair Value$67.43
Current Price$37.62
Upside79.24%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.30%0.00%0.160.130.100.130.060.110.040.050.050.06
YoY Growth--29.83%24.03%-19.08%126.31%-51.76%177.28%-24.02%9.17%-14.24%0.00%
Dividend Yield--0.51%0.50%0.54%0.65%0.37%1.50%0.54%0.71%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)656.73
(-) Cash Dividends Paid (M)148.80
(=) Cash Retained (M)507.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)131.3582.0949.26
Cash Retained (M)507.93507.93507.93
(-) Cash Required (M)-131.35-82.09-49.26
(=) Excess Retained (M)376.59425.84458.68
(/) Shares Outstanding (M)445.24445.24445.24
(=) Excess Retained per Share0.850.961.03
LTM Dividend per Share0.330.330.33
(+) Excess Retained per Share0.850.961.03
(=) Adjusted Dividend1.181.291.36
WACC / Discount Rate7.65%7.65%7.65%
Growth Rate5.30%6.30%7.30%
Fair Value$52.99$102.01$292.81
Upside / Downside40.85%171.15%678.33%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)656.73698.12742.12788.89838.60891.45918.20
Payout Ratio22.66%36.13%49.59%63.06%76.53%90.00%92.50%
Projected Dividends (M)148.80252.20368.05497.50641.80802.31849.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.65%7.65%7.65%
Growth Rate5.30%6.30%7.30%
Year 1 PV (M)232.08234.29236.49
Year 2 PV (M)311.67317.62323.62
Year 3 PV (M)387.68398.83410.19
Year 4 PV (M)460.22477.96496.20
Year 5 PV (M)529.43555.05581.65
PV of Terminal Value (M)12,060.4912,644.1413,250.16
Equity Value (M)13,981.5714,627.8715,298.30
Shares Outstanding (M)445.24445.24445.24
Fair Value$31.40$32.85$34.36
Upside / Downside-16.53%-12.67%-8.67%

High-Yield Dividend Screener

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