Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Jiangxi GETO New Materials Corporation Limited (300986.SZ)

Company Dividend Discount ModelIndustry: ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$32.56 - $93.21$87.35
Multi-Stage$13.02 - $14.24$13.62
Blended Fair Value$50.49
Current Price$11.45
Upside340.94%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS41.70%47.35%0.270.120.170.070.090.050.040.010.010.01
YoY Growth--131.79%-33.15%141.23%-18.64%87.82%33.22%199.91%124.49%-0.81%-5.09%
Dividend Yield--2.05%1.27%0.93%0.56%0.54%0.29%0.22%0.00%0.03%0.03%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)132.22
(-) Cash Dividends Paid (M)66.10
(=) Cash Retained (M)66.13
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.4416.539.92
Cash Retained (M)66.1366.1366.13
(-) Cash Required (M)-26.44-16.53-9.92
(=) Excess Retained (M)39.6849.6056.21
(/) Shares Outstanding (M)282.12282.12282.12
(=) Excess Retained per Share0.140.180.20
LTM Dividend per Share0.230.230.23
(+) Excess Retained per Share0.140.180.20
(=) Adjusted Dividend0.370.410.43
WACC / Discount Rate6.71%6.71%6.71%
Growth Rate5.50%6.50%7.50%
Fair Value$32.56$87.35$93.21
Upside / Downside184.36%662.90%714.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)132.22140.82149.97159.72170.10181.16186.59
Payout Ratio49.99%57.99%65.99%74.00%82.00%90.00%92.50%
Projected Dividends (M)66.1081.6698.97118.19139.48163.04172.60

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.71%6.71%6.71%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)75.8176.5277.24
Year 2 PV (M)85.2886.9188.55
Year 3 PV (M)94.5497.25100.02
Year 4 PV (M)103.57107.55111.65
Year 5 PV (M)112.38117.81123.44
PV of Terminal Value (M)3,202.393,357.073,517.66
Equity Value (M)3,673.963,843.114,018.56
Shares Outstanding (M)282.12282.12282.12
Fair Value$13.02$13.62$14.24
Upside / Downside13.74%18.97%24.40%

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