Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jiangsu Jiuding New Material Co., Ltd. (002201.SZ)

Company Dividend Discount ModelIndustry: Chemicals - SpecialtySector: Basic Materials

Valuation Snapshot

Stable Growth$1.47 - $2.51$1.92
Multi-Stage$3.45 - $3.80$3.63
Blended Fair Value$2.77
Current Price$7.93
Upside-65.04%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.20%-5.04%0.060.050.060.010.010.050.060.060.080.09
YoY Growth--6.58%-14.82%983.63%-26.67%-85.29%-13.16%-5.38%-19.27%-13.13%-2.48%
Dividend Yield--1.03%0.86%0.56%0.05%0.13%0.74%1.45%1.28%1.09%1.44%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)78.10
(-) Cash Dividends Paid (M)29.90
(=) Cash Retained (M)48.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)15.629.765.86
Cash Retained (M)48.2048.2048.20
(-) Cash Required (M)-15.62-9.76-5.86
(=) Excess Retained (M)32.5838.4442.34
(/) Shares Outstanding (M)651.94651.94651.94
(=) Excess Retained per Share0.050.060.06
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.050.060.06
(=) Adjusted Dividend0.100.100.11
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate-0.80%0.20%1.20%
Fair Value$1.47$1.92$2.51
Upside / Downside-81.48%-75.80%-68.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)78.1078.2678.4178.5678.7278.8781.24
Payout Ratio38.29%48.63%58.97%69.32%79.66%90.00%92.50%
Projected Dividends (M)29.9038.0646.2454.4662.7070.9875.15

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.67%5.67%5.67%
Growth Rate-0.80%0.20%1.20%
Year 1 PV (M)35.6636.0136.37
Year 2 PV (M)40.5941.4142.24
Year 3 PV (M)44.7846.1547.55
Year 4 PV (M)48.3150.2952.33
Year 5 PV (M)51.2453.8856.62
PV of Terminal Value (M)2,031.462,135.942,244.68
Equity Value (M)2,252.042,363.692,479.79
Shares Outstanding (M)651.94651.94651.94
Fair Value$3.45$3.63$3.80
Upside / Downside-56.44%-54.28%-52.03%

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