Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shenke Slide Bearing Corporation (002633.SZ)

Company Dividend Discount ModelIndustry: Manufacturing - Metal FabricationSector: Industrials

Valuation Snapshot

Stable Growth$0.34 - $0.50$0.41
Multi-Stage$0.46 - $0.51$0.48
Blended Fair Value$0.45
Current Price$16.00
Upside-97.20%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-5.32%-30.50%0.000.020.020.010.000.000.000.000.030.09
YoY Growth---84.79%-20.58%60.09%0.00%-100.00%56.16%-45.50%-86.77%-63.36%-16.23%
Dividend Yield--0.02%0.22%0.21%0.15%0.00%0.05%0.02%0.04%0.18%0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)5.99
(-) Cash Dividends Paid (M)0.60
(=) Cash Retained (M)5.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.200.750.45
Cash Retained (M)5.405.405.40
(-) Cash Required (M)-1.20-0.75-0.45
(=) Excess Retained (M)4.204.654.95
(/) Shares Outstanding (M)150.46150.46150.46
(=) Excess Retained per Share0.030.030.03
LTM Dividend per Share0.000.000.00
(+) Excess Retained per Share0.030.030.03
(=) Adjusted Dividend0.030.030.04
WACC / Discount Rate9.41%9.41%9.41%
Growth Rate-0.07%0.93%1.93%
Fair Value$0.34$0.41$0.50
Upside / Downside-97.90%-97.41%-96.86%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)5.996.056.106.166.226.276.46
Payout Ratio9.93%25.95%41.96%57.97%73.99%90.00%92.50%
Projected Dividends (M)0.601.572.563.574.605.655.98

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.41%9.41%9.41%
Growth Rate-0.07%0.93%1.93%
Year 1 PV (M)1.421.431.45
Year 2 PV (M)2.102.142.18
Year 3 PV (M)2.652.732.81
Year 4 PV (M)3.083.213.34
Year 5 PV (M)3.433.603.78
PV of Terminal Value (M)56.6159.5062.51
Equity Value (M)69.2972.6176.07
Shares Outstanding (M)150.46150.46150.46
Fair Value$0.46$0.48$0.51
Upside / Downside-97.12%-96.98%-96.84%

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