Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

YeaShin International Development Co., Ltd. (5213.TWO)

Company Dividend Discount ModelIndustry: Real Estate - ServicesSector: Real Estate

Valuation Snapshot

Stable Growth$254.71 - $673.33$631.01
Multi-Stage$95.76 - $104.80$100.20
Blended Fair Value$365.60
Current Price$25.50
Upside1,333.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.97%6.31%1.260.460.541.040.001.040.520.280.680.64
YoY Growth--171.64%-14.43%-47.72%0.00%-100.00%100.68%81.55%-58.33%6.85%-6.47%
Dividend Yield--3.76%1.27%2.34%5.34%0.00%9.56%3.26%1.88%5.03%4.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,259.17
(-) Cash Dividends Paid (M)848.63
(=) Cash Retained (M)1,410.54
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)451.83282.40169.44
Cash Retained (M)1,410.541,410.541,410.54
(-) Cash Required (M)-451.83-282.40-169.44
(=) Excess Retained (M)958.711,128.151,241.10
(/) Shares Outstanding (M)667.27667.27667.27
(=) Excess Retained per Share1.441.691.86
LTM Dividend per Share1.271.271.27
(+) Excess Retained per Share1.441.691.86
(=) Adjusted Dividend2.712.963.13
WACC / Discount Rate6.62%6.62%6.62%
Growth Rate5.50%6.50%7.50%
Fair Value$254.71$631.01$673.33
Upside / Downside898.86%2,374.55%2,540.52%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,259.172,406.012,562.402,728.962,906.343,095.253,188.11
Payout Ratio37.56%48.05%58.54%69.03%79.51%90.00%92.50%
Projected Dividends (M)848.631,156.111,499.991,883.682,310.912,785.732,949.00

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.62%6.62%6.62%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,074.131,084.311,094.49
Year 2 PV (M)1,294.791,319.451,344.35
Year 3 PV (M)1,510.691,554.061,598.25
Year 4 PV (M)1,721.911,788.131,856.24
Year 5 PV (M)1,928.512,021.662,118.37
PV of Terminal Value (M)56,366.8659,089.4061,916.14
Equity Value (M)63,896.8966,857.0169,927.84
Shares Outstanding (M)667.27667.27667.27
Fair Value$95.76$100.20$104.80
Upside / Downside275.53%292.92%310.97%

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