Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

FangDa Carbon New Material Co.,Ltd (600516.SS)

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

Valuation Snapshot

Stable Growth$0.16 - $0.31$0.22
Multi-Stage$0.84 - $0.93$0.88
Blended Fair Value$0.55
Current Price$5.22
Upside-89.44%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS40.23%-4.15%0.040.010.010.500.010.010.880.020.030.03
YoY Growth--440.70%-12.96%-98.23%3,708.17%70.82%-99.13%4,374.22%-35.20%-11.03%-46.08%
Dividend Yield--0.83%0.15%0.14%5.86%0.16%0.12%7.84%0.15%0.71%0.69%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)42.60
(-) Cash Dividends Paid (M)25.93
(=) Cash Retained (M)16.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.525.323.19
Cash Retained (M)16.6716.6716.67
(-) Cash Required (M)-8.52-5.32-3.19
(=) Excess Retained (M)8.1511.3413.47
(/) Shares Outstanding (M)3,902.433,902.433,902.43
(=) Excess Retained per Share0.000.000.00
LTM Dividend per Share0.010.010.01
(+) Excess Retained per Share0.000.000.00
(=) Adjusted Dividend0.010.010.01
WACC / Discount Rate-1.07%-1.07%-1.07%
Growth Rate-6.15%-5.15%-4.15%
Fair Value$0.16$0.22$0.31
Upside / Downside-96.91%-95.75%-93.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)42.6040.4138.3236.3534.4832.7033.68
Payout Ratio60.88%66.70%72.53%78.35%84.18%90.00%92.50%
Projected Dividends (M)25.9326.9527.7928.4829.0229.4331.16

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.07%-1.07%-1.07%
Growth Rate-6.15%-5.15%-4.15%
Year 1 PV (M)26.9527.2427.53
Year 2 PV (M)27.8028.4029.00
Year 3 PV (M)28.4929.4130.35
Year 4 PV (M)29.0430.3031.60
Year 5 PV (M)29.4531.0632.73
PV of Terminal Value (M)3,118.093,287.793,464.80
Equity Value (M)3,259.843,434.213,616.02
Shares Outstanding (M)3,902.433,902.433,902.43
Fair Value$0.84$0.88$0.93
Upside / Downside-84.00%-83.14%-82.25%

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