Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Wasu Media Holding Co.,Ltd (000156.SZ)

Company Dividend Discount ModelIndustry: EntertainmentSector: Communication Services

Valuation Snapshot

Stable Growth$11.80 - $57.02$25.44
Multi-Stage$6.25 - $6.84$6.54
Blended Fair Value$15.99
Current Price$8.03
Upside99.13%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.47%36.28%0.240.220.200.170.490.170.150.110.030.00
YoY Growth--10.90%10.00%17.65%-65.12%186.36%10.00%42.86%300.00%997.76%-77.66%
Dividend Yield--2.94%2.63%2.24%2.10%5.87%1.82%1.22%0.95%0.16%0.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)531.30
(-) Cash Dividends Paid (M)36.56
(=) Cash Retained (M)494.74
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)106.2666.4139.85
Cash Retained (M)494.74494.74494.74
(-) Cash Required (M)-106.26-66.41-39.85
(=) Excess Retained (M)388.48428.33454.89
(/) Shares Outstanding (M)1,852.551,852.551,852.55
(=) Excess Retained per Share0.210.230.25
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.210.230.25
(=) Adjusted Dividend0.230.250.27
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate5.47%6.47%7.47%
Fair Value$11.80$25.44$57.02
Upside / Downside46.98%216.80%610.09%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)531.30565.67602.27641.24682.72726.90748.70
Payout Ratio6.88%23.50%40.13%56.75%73.38%90.00%92.50%
Projected Dividends (M)36.56132.96241.68363.92500.96654.21692.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.52%7.52%7.52%
Growth Rate5.47%6.47%7.47%
Year 1 PV (M)122.50123.66124.82
Year 2 PV (M)205.15209.06213.00
Year 3 PV (M)284.60292.77301.10
Year 4 PV (M)360.95374.83389.12
Year 5 PV (M)434.28455.26477.05
PV of Terminal Value (M)10,170.6510,662.0411,172.24
Equity Value (M)11,578.1312,117.6312,677.33
Shares Outstanding (M)1,852.551,852.551,852.55
Fair Value$6.25$6.54$6.84
Upside / Downside-22.17%-18.54%-14.78%

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