Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Shenzhen Jasic Technology Co.,Ltd. (300193.SZ)

Company Dividend Discount ModelIndustry: Manufacturing - Tools & AccessoriesSector: Industrials

Valuation Snapshot

Stable Growth$16.86 - $98.61$31.18
Multi-Stage$10.45 - $11.39$10.91
Blended Fair Value$21.05
Current Price$9.04
Upside132.81%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.62%20.58%0.610.110.530.480.500.210.050.030.030.02
YoY Growth--472.79%-79.88%8.98%-3.43%138.05%293.08%66.46%0.16%37.37%-75.00%
Dividend Yield--5.37%1.34%6.65%5.27%6.73%2.91%0.62%0.42%0.34%0.24%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)235.54
(-) Cash Dividends Paid (M)192.47
(=) Cash Retained (M)43.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)47.1129.4417.67
Cash Retained (M)43.0743.0743.07
(-) Cash Required (M)-47.11-29.44-17.67
(=) Excess Retained (M)-4.0413.6325.40
(/) Shares Outstanding (M)475.01475.01475.01
(=) Excess Retained per Share-0.010.030.05
LTM Dividend per Share0.410.410.41
(+) Excess Retained per Share-0.010.030.05
(=) Adjusted Dividend0.400.430.46
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate5.50%6.50%7.50%
Fair Value$16.86$31.18$98.61
Upside / Downside86.53%244.93%990.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)235.54250.85267.15284.52303.01322.70332.39
Payout Ratio81.71%83.37%85.03%86.69%88.34%90.00%92.50%
Projected Dividends (M)192.47209.13227.16246.63267.69290.43307.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)191.86193.68195.49
Year 2 PV (M)191.17194.81198.49
Year 3 PV (M)190.42195.89201.46
Year 4 PV (M)189.60196.89204.39
Year 5 PV (M)188.72197.83207.29
PV of Terminal Value (M)4,010.074,203.764,404.86
Equity Value (M)4,961.835,182.855,411.98
Shares Outstanding (M)475.01475.01475.01
Fair Value$10.45$10.91$11.39
Upside / Downside15.55%20.70%26.03%

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