Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Yantai Jereh Oilfield Services Group Co., Ltd. (002353.SZ)

Company Dividend Discount ModelIndustry: Oil & Gas Equipment & ServicesSector: Energy

Valuation Snapshot

Stable Growth$133.88 - $555.88$341.76
Multi-Stage$66.43 - $72.67$69.49
Blended Fair Value$205.63
Current Price$55.70
Upside269.17%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS46.03%14.97%0.750.430.230.210.210.110.130.050.060.21
YoY Growth--75.49%84.99%9.49%-0.43%87.66%-14.03%172.54%-17.91%-72.45%14.67%
Dividend Yield--2.07%1.38%0.82%0.50%0.61%0.51%0.51%0.32%0.28%1.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,836.55
(-) Cash Dividends Paid (M)950.01
(=) Cash Retained (M)1,886.55
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)567.31354.57212.74
Cash Retained (M)1,886.551,886.551,886.55
(-) Cash Required (M)-567.31-354.57-212.74
(=) Excess Retained (M)1,319.241,531.981,673.81
(/) Shares Outstanding (M)1,014.821,014.821,014.82
(=) Excess Retained per Share1.301.511.65
LTM Dividend per Share0.940.940.94
(+) Excess Retained per Share1.301.511.65
(=) Adjusted Dividend2.242.452.59
WACC / Discount Rate7.26%7.26%7.26%
Growth Rate5.50%6.50%7.50%
Fair Value$133.88$341.76$555.88
Upside / Downside140.35%513.58%897.99%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,836.553,020.933,217.293,426.423,649.133,886.334,002.92
Payout Ratio33.49%44.79%56.09%67.40%78.70%90.00%92.50%
Projected Dividends (M)950.011,353.171,804.742,309.292,871.813,497.693,702.70

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.26%7.26%7.26%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,249.711,261.561,273.40
Year 2 PV (M)1,539.311,568.631,598.23
Year 3 PV (M)1,819.061,871.281,924.49
Year 4 PV (M)2,089.202,169.552,252.19
Year 5 PV (M)2,349.982,463.482,581.33
PV of Terminal Value (M)58,367.6961,186.8764,113.95
Equity Value (M)67,414.9570,521.3773,743.58
Shares Outstanding (M)1,014.821,014.821,014.82
Fair Value$66.43$69.49$72.67
Upside / Downside19.26%24.76%30.46%

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