Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Imeik Technology Development Co.,Ltd. (300896.SZ)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$106.11 - $259.01$158.04
Multi-Stage$79.35 - $86.41$82.82
Blended Fair Value$120.43
Current Price$181.55
Upside-33.67%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS61.86%0.00%1.663.331.511.400.000.150.160.070.000.00
YoY Growth---50.25%121.14%8.00%0.00%-100.00%-9.42%145.65%0.00%0.00%0.00%
Dividend Yield--0.92%1.33%0.38%0.41%0.00%0.11%0.12%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,465.35
(-) Cash Dividends Paid (M)1,145.42
(=) Cash Retained (M)319.93
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)293.07183.17109.90
Cash Retained (M)319.93319.93319.93
(-) Cash Required (M)-293.07-183.17-109.90
(=) Excess Retained (M)26.86136.76210.03
(/) Shares Outstanding (M)301.47301.47301.47
(=) Excess Retained per Share0.090.450.70
LTM Dividend per Share3.803.803.80
(+) Excess Retained per Share0.090.450.70
(=) Adjusted Dividend3.894.254.50
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.50%6.50%7.50%
Fair Value$106.11$158.04$259.01
Upside / Downside-41.55%-12.95%42.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,465.351,560.591,662.031,770.061,885.122,007.652,067.88
Payout Ratio78.17%80.53%82.90%85.27%87.63%90.00%92.50%
Projected Dividends (M)1,145.421,256.801,377.831,509.281,651.991,806.891,912.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,138.381,149.171,159.96
Year 2 PV (M)1,130.411,151.941,173.68
Year 3 PV (M)1,121.581,153.781,186.58
Year 4 PV (M)1,111.961,154.721,198.71
Year 5 PV (M)1,101.621,154.831,210.08
PV of Terminal Value (M)18,318.8819,203.6820,122.36
Equity Value (M)23,922.8324,968.1326,051.36
Shares Outstanding (M)301.47301.47301.47
Fair Value$79.35$82.82$86.41
Upside / Downside-56.29%-54.38%-52.40%

High-Yield Dividend Screener

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