Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Inner Mongolia Dian Tou Energy Corporation Limited (002128.SZ)

Company Dividend Discount ModelIndustry: CoalSector: Energy

Valuation Snapshot

Stable Growth$147.47 - $449.50$421.25
Multi-Stage$59.46 - $65.14$62.24
Blended Fair Value$241.75
Current Price$22.57
Upside971.09%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS19.18%30.14%0.830.500.430.340.340.340.220.220.070.07
YoY Growth--64.93%16.65%25.00%0.00%0.00%56.76%0.00%200.00%0.00%23.19%
Dividend Yield--4.29%2.89%3.19%1.98%3.43%4.69%2.28%2.33%0.81%0.91%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)5,059.90
(-) Cash Dividends Paid (M)239.77
(=) Cash Retained (M)4,820.13
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,011.98632.49379.49
Cash Retained (M)4,820.134,820.134,820.13
(-) Cash Required (M)-1,011.98-632.49-379.49
(=) Excess Retained (M)3,808.154,187.644,440.64
(/) Shares Outstanding (M)2,238.682,238.682,238.68
(=) Excess Retained per Share1.701.871.98
LTM Dividend per Share0.110.110.11
(+) Excess Retained per Share1.701.871.98
(=) Adjusted Dividend1.811.982.09
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate5.50%6.50%7.50%
Fair Value$147.47$421.25$449.50
Upside / Downside553.39%1,766.40%1,891.58%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)5,059.905,388.795,739.076,112.106,509.396,932.507,140.48
Payout Ratio4.74%21.79%38.84%55.90%72.95%90.00%92.50%
Projected Dividends (M)239.771,174.272,229.243,416.394,748.456,239.256,604.94

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.79%6.79%6.79%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,089.241,099.571,109.89
Year 2 PV (M)1,918.101,954.641,991.52
Year 3 PV (M)2,726.722,804.992,884.75
Year 4 PV (M)3,515.473,650.663,789.72
Year 5 PV (M)4,284.714,491.664,706.54
PV of Terminal Value (M)119,566.73125,341.85131,337.99
Equity Value (M)133,100.97139,343.37145,820.41
Shares Outstanding (M)2,238.682,238.682,238.68
Fair Value$59.46$62.24$65.14
Upside / Downside163.42%175.78%188.60%

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