Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jiangyin Haida Rubber And Plastic Co., Ltd. (300320.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$59.48 - $70.08$65.67
Multi-Stage$49.39 - $54.21$51.75
Blended Fair Value$58.71
Current Price$10.11
Upside480.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-6.01%8.88%0.060.040.050.060.080.080.040.120.030.03
YoY Growth--60.22%-14.43%-18.90%-32.10%-2.86%134.75%-68.86%345.96%-5.98%4.17%
Dividend Yield--0.56%0.57%0.51%0.42%1.58%1.56%0.60%1.58%0.28%0.42%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)211.84
(-) Cash Dividends Paid (M)31.54
(=) Cash Retained (M)180.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)42.3726.4815.89
Cash Retained (M)180.30180.30180.30
(-) Cash Required (M)-42.37-26.48-15.89
(=) Excess Retained (M)137.93153.82164.41
(/) Shares Outstanding (M)601.18601.18601.18
(=) Excess Retained per Share0.230.260.27
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.230.260.27
(=) Adjusted Dividend0.280.310.33
WACC / Discount Rate-1.79%-1.79%-1.79%
Growth Rate5.50%6.50%7.50%
Fair Value$59.48$65.67$70.08
Upside / Downside488.33%549.58%593.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)211.84225.61240.27255.89272.52290.24298.94
Payout Ratio14.89%29.91%44.93%59.95%74.98%90.00%92.50%
Projected Dividends (M)31.5467.48107.96153.42204.33261.21276.52

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.79%-1.79%-1.79%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)68.0668.7169.35
Year 2 PV (M)109.84111.93114.04
Year 3 PV (M)157.44161.96166.56
Year 4 PV (M)211.50219.63228.00
Year 5 PV (M)272.71285.89299.56
PV of Terminal Value (M)28,869.8930,264.3231,712.11
Equity Value (M)29,689.4431,112.4332,589.63
Shares Outstanding (M)601.18601.18601.18
Fair Value$49.39$51.75$54.21
Upside / Downside388.48%411.89%436.20%

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