Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Zhejiang Wellsun Intelligent Technology Co.,Ltd. (300882.SZ)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$102.15 - $120.40$112.81
Multi-Stage$75.71 - $83.27$79.42
Blended Fair Value$96.11
Current Price$19.19
Upside400.85%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS664.17%0.00%0.430.140.040.170.000.000.050.000.090.00
YoY Growth--200.21%300.00%-78.33%0.00%-100.00%-99.97%6,143.11%-99.08%0.00%0.00%
Dividend Yield--2.73%0.90%0.28%1.47%0.00%0.00%0.26%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)175.21
(-) Cash Dividends Paid (M)14.35
(=) Cash Retained (M)160.86
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)35.0421.9013.14
Cash Retained (M)160.86160.86160.86
(-) Cash Required (M)-35.04-21.90-13.14
(=) Excess Retained (M)125.82138.96147.72
(/) Shares Outstanding (M)283.41283.41283.41
(=) Excess Retained per Share0.440.490.52
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.440.490.52
(=) Adjusted Dividend0.490.540.57
WACC / Discount Rate-1.24%-1.24%-1.24%
Growth Rate3.27%4.27%5.27%
Fair Value$102.15$112.81$120.40
Upside / Downside432.32%487.86%527.42%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)175.21182.70190.50198.63207.12215.96222.44
Payout Ratio8.19%24.55%40.91%57.28%73.64%90.00%92.50%
Projected Dividends (M)14.3544.8577.94113.77152.52194.37205.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.24%-1.24%-1.24%
Growth Rate3.27%4.27%5.27%
Year 1 PV (M)44.9845.4245.85
Year 2 PV (M)78.3879.9081.44
Year 3 PV (M)114.73118.10121.53
Year 4 PV (M)154.24160.30166.54
Year 5 PV (M)197.11206.84216.95
PV of Terminal Value (M)20,866.7121,896.7522,967.08
Equity Value (M)21,456.1522,507.3123,599.39
Shares Outstanding (M)283.41283.41283.41
Fair Value$75.71$79.42$83.27
Upside / Downside294.51%313.84%333.92%

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