Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Lu Thai Textile Co., Ltd. (000726.SZ)

Company Dividend Discount ModelIndustry: Apparel - ManufacturersSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$6.98 - $11.17$8.88
Multi-Stage$47.29 - $52.39$49.79
Blended Fair Value$29.33
Current Price$6.66
Upside340.46%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-10.51%-2.74%0.330.160.130.090.160.570.570.570.540.55
YoY Growth--108.99%23.08%34.93%-39.53%-72.65%0.80%-0.98%5.45%-1.99%28.00%
Dividend Yield--5.42%2.50%1.57%1.48%2.37%6.63%5.23%5.49%4.23%4.99%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)625.14
(-) Cash Dividends Paid (M)257.27
(=) Cash Retained (M)367.87
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)125.0378.1446.89
Cash Retained (M)367.87367.87367.87
(-) Cash Required (M)-125.03-78.14-46.89
(=) Excess Retained (M)242.84289.73320.98
(/) Shares Outstanding (M)892.70892.70892.70
(=) Excess Retained per Share0.270.320.36
LTM Dividend per Share0.290.290.29
(+) Excess Retained per Share0.270.320.36
(=) Adjusted Dividend0.560.610.65
WACC / Discount Rate2.91%2.91%2.91%
Growth Rate-4.74%-3.74%-2.74%
Fair Value$6.98$8.88$11.17
Upside / Downside4.87%33.36%67.70%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)625.14601.79579.31557.67536.84516.78532.29
Payout Ratio41.15%50.92%60.69%70.46%80.23%90.00%92.50%
Projected Dividends (M)257.27306.45351.60392.94430.71465.11492.37

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.91%2.91%2.91%
Growth Rate-4.74%-3.74%-2.74%
Year 1 PV (M)294.71297.80300.89
Year 2 PV (M)325.16332.02338.96
Year 3 PV (M)349.47360.59371.94
Year 4 PV (M)368.37384.09400.30
Year 5 PV (M)382.55403.05424.42
PV of Terminal Value (M)40,496.7542,667.3344,930.00
Equity Value (M)42,217.0044,444.8846,766.52
Shares Outstanding (M)892.70892.70892.70
Fair Value$47.29$49.79$52.39
Upside / Downside610.08%647.55%686.60%

High-Yield Dividend Screener

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