Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Chin Yang Industry Co., Ltd. (003780.KS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$125,684.09 - $148,080.68$138,771.64
Multi-Stage$101,493.65 - $111,397.38$106,352.93
Blended Fair Value$122,562.29
Current Price$5,630.00
Upside2,076.95%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.87%5.24%249.77199.82199.82174.84179.83124.8999.91174.84199.82149.86
YoY Growth--25.00%0.00%14.29%-2.78%44.00%25.00%-42.86%-12.50%33.33%0.00%
Dividend Yield--3.60%2.90%3.28%1.48%2.28%4.23%2.81%6.04%5.18%2.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9,700.77
(-) Cash Dividends Paid (M)3,653.00
(=) Cash Retained (M)6,047.77
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,940.151,212.60727.56
Cash Retained (M)6,047.776,047.776,047.77
(-) Cash Required (M)-1,940.15-1,212.60-727.56
(=) Excess Retained (M)4,107.624,835.175,320.21
(/) Shares Outstanding (M)13.0113.0113.01
(=) Excess Retained per Share315.68371.60408.87
LTM Dividend per Share280.74280.74280.74
(+) Excess Retained per Share315.68371.60408.87
(=) Adjusted Dividend596.42652.34689.61
WACC / Discount Rate-1.26%-1.26%-1.26%
Growth Rate5.36%6.36%7.36%
Fair Value$125,684.09$138,771.64$148,080.68
Upside / Downside2,132.40%2,364.86%2,530.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9,700.7710,318.2110,974.9611,673.5012,416.5113,206.8113,603.01
Payout Ratio37.66%48.13%58.59%69.06%79.53%90.00%92.50%
Projected Dividends (M)3,653.004,965.696,430.688,062.049,875.0211,886.1312,582.79

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.26%-1.26%-1.26%
Growth Rate5.36%6.36%7.36%
Year 1 PV (M)4,981.895,029.185,076.46
Year 2 PV (M)6,472.726,596.176,720.78
Year 3 PV (M)8,141.238,375.248,613.69
Year 4 PV (M)10,004.5710,389.8210,786.09
Year 5 PV (M)12,081.3712,665.6613,272.35
PV of Terminal Value (M)1,278,946.801,340,801.121,405,025.82
Equity Value (M)1,320,628.591,383,857.191,449,495.18
Shares Outstanding (M)13.0113.0113.01
Fair Value$101,493.65$106,352.93$111,397.38
Upside / Downside1,702.73%1,789.04%1,878.64%

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