Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Aerospace CH UAV Co.,Ltd (002389.SZ)

Company Dividend Discount ModelIndustry: Aerospace & DefenseSector: Industrials

Valuation Snapshot

Stable Growth$0.81 - $1.22$1.00
Multi-Stage$1.07 - $1.16$1.11
Blended Fair Value$1.06
Current Price$23.11
Upside-95.42%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.59%3.20%0.070.070.070.040.040.050.040.010.020.03
YoY Growth---1.80%-6.61%68.10%-0.35%-10.42%14.01%483.37%-64.39%-32.33%-37.88%
Dividend Yield--0.33%0.40%0.32%0.23%0.21%0.43%0.29%0.04%0.09%0.23%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)88.07
(-) Cash Dividends Paid (M)67.47
(=) Cash Retained (M)20.60
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)17.6111.016.61
Cash Retained (M)20.6020.6020.60
(-) Cash Required (M)-17.61-11.01-6.61
(=) Excess Retained (M)2.989.5913.99
(/) Shares Outstanding (M)981.20981.20981.20
(=) Excess Retained per Share0.000.010.01
LTM Dividend per Share0.070.070.07
(+) Excess Retained per Share0.000.010.01
(=) Adjusted Dividend0.070.080.08
WACC / Discount Rate10.22%10.22%10.22%
Growth Rate1.20%2.20%3.20%
Fair Value$0.81$1.00$1.22
Upside / Downside-96.51%-95.67%-94.72%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)88.0790.0191.9994.0196.0798.18101.13
Payout Ratio76.61%79.29%81.97%84.64%87.32%90.00%92.50%
Projected Dividends (M)67.4771.3775.4079.5783.8988.3793.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.22%10.22%10.22%
Growth Rate1.20%2.20%3.20%
Year 1 PV (M)64.1264.7565.38
Year 2 PV (M)60.8662.0763.29
Year 3 PV (M)57.7059.4361.19
Year 4 PV (M)54.6556.8559.10
Year 5 PV (M)51.7254.3257.03
PV of Terminal Value (M)758.37796.59836.33
Equity Value (M)1,047.411,094.001,142.33
Shares Outstanding (M)981.20981.20981.20
Fair Value$1.07$1.11$1.16
Upside / Downside-95.38%-95.18%-94.96%

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