Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Teemsun Technology Co Ltd (301571.SZ)

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

Valuation Snapshot

Stable Growth$41.59 - $192.50$93.75
Multi-Stage$92.66 - $102.41$97.44
Blended Fair Value$95.59
Current Price$45.90
Upside108.26%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.090.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)191.55
(-) Cash Dividends Paid (M)24.79
(=) Cash Retained (M)166.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)38.3123.9414.37
Cash Retained (M)166.75166.75166.75
(-) Cash Required (M)-38.31-23.94-14.37
(=) Excess Retained (M)128.44142.81152.39
(/) Shares Outstanding (M)184.09184.09184.09
(=) Excess Retained per Share0.700.780.83
LTM Dividend per Share0.130.130.13
(+) Excess Retained per Share0.700.780.83
(=) Adjusted Dividend0.830.910.96
WACC / Discount Rate-0.04%-0.04%-0.04%
Growth Rate-2.00%-1.00%0.00%
Fair Value$41.59$93.75$192.50
Upside / Downside-9.39%104.25%319.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)191.55189.63187.74185.86184.00182.16187.62
Payout Ratio12.94%28.36%43.77%59.18%74.59%90.00%92.50%
Projected Dividends (M)24.7953.7782.16109.99137.24163.94173.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-0.04%-0.04%-0.04%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)53.2553.7954.33
Year 2 PV (M)80.5882.2383.90
Year 3 PV (M)106.81110.11113.48
Year 4 PV (M)131.98137.45143.09
Year 5 PV (M)156.13164.26172.72
PV of Terminal Value (M)16,528.0517,388.7118,284.85
Equity Value (M)17,056.8017,936.5518,852.38
Shares Outstanding (M)184.09184.09184.09
Fair Value$92.66$97.44$102.41
Upside / Downside101.87%112.28%123.12%

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