Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Xiamen Sunrise Group Co., Ltd. (002593.SZ)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1.07 - $1.60$1.32
Multi-Stage$1.83 - $2.00$1.91
Blended Fair Value$1.62
Current Price$5.12
Upside-68.45%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.92%0.53%0.100.050.100.100.100.100.100.100.030.09
YoY Growth--95.20%-49.18%3.95%-3.83%-3.72%1.92%2.29%229.95%-67.17%-2.25%
Dividend Yield--2.01%1.43%2.70%2.72%2.83%2.95%2.47%2.53%0.45%1.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)99.11
(-) Cash Dividends Paid (M)80.55
(=) Cash Retained (M)18.56
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)19.8212.397.43
Cash Retained (M)18.5618.5618.56
(-) Cash Required (M)-19.82-12.39-7.43
(=) Excess Retained (M)-1.266.1711.13
(/) Shares Outstanding (M)781.10781.10781.10
(=) Excess Retained per Share0.000.010.01
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.000.010.01
(=) Adjusted Dividend0.100.110.12
WACC / Discount Rate8.45%8.45%8.45%
Growth Rate-0.99%0.01%1.01%
Fair Value$1.07$1.32$1.60
Upside / Downside-79.19%-74.28%-68.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)99.1199.1299.1499.1599.1799.18102.15
Payout Ratio81.27%83.02%84.76%86.51%88.25%90.00%92.50%
Projected Dividends (M)80.5582.2984.0385.7887.5289.2694.49

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.45%8.45%8.45%
Growth Rate-0.99%0.01%1.01%
Year 1 PV (M)75.1275.8876.64
Year 2 PV (M)70.0371.4572.89
Year 3 PV (M)65.2667.2669.29
Year 4 PV (M)60.7963.2865.85
Year 5 PV (M)56.6059.5162.55
PV of Terminal Value (M)1,100.321,157.021,216.03
Equity Value (M)1,428.121,494.411,563.25
Shares Outstanding (M)781.10781.10781.10
Fair Value$1.83$1.91$2.00
Upside / Downside-64.29%-62.63%-60.91%

High-Yield Dividend Screener

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