Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Guangdong Lingxiao Pump Industry Co.,Ltd. (002884.SZ)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$217.37 - $256.10$240.00
Multi-Stage$154.91 - $169.93$162.28
Blended Fair Value$201.14
Current Price$17.11
Upside1,075.56%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS14.64%25.73%0.990.990.990.920.700.500.170.200.400.20
YoY Growth--0.00%0.00%8.32%30.79%39.75%190.69%-14.40%-50.02%100.17%100.32%
Dividend Yield--5.52%5.04%6.19%4.18%3.35%4.96%1.42%1.56%3.91%1.95%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)463.76
(-) Cash Dividends Paid (M)357.68
(=) Cash Retained (M)106.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)92.7557.9734.78
Cash Retained (M)106.08106.08106.08
(-) Cash Required (M)-92.75-57.97-34.78
(=) Excess Retained (M)13.3348.1171.30
(/) Shares Outstanding (M)360.14360.14360.14
(=) Excess Retained per Share0.040.130.20
LTM Dividend per Share0.990.990.99
(+) Excess Retained per Share0.040.130.20
(=) Adjusted Dividend1.031.131.19
WACC / Discount Rate1.51%1.51%1.51%
Growth Rate5.50%6.50%7.50%
Fair Value$217.37$240.00$256.10
Upside / Downside1,170.41%1,302.68%1,396.76%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)463.76493.90526.01560.20596.61635.39654.45
Payout Ratio77.13%79.70%82.28%84.85%87.43%90.00%92.50%
Projected Dividends (M)357.68393.65432.78475.33521.59571.85605.37

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate1.51%1.51%1.51%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)384.14387.78391.42
Year 2 PV (M)412.13419.98427.90
Year 3 PV (M)441.72454.40467.32
Year 4 PV (M)473.00491.19509.90
Year 5 PV (M)506.06530.50555.88
PV of Terminal Value (M)53,571.9156,159.4558,846.02
Equity Value (M)55,788.9658,443.3061,198.45
Shares Outstanding (M)360.14360.14360.14
Fair Value$154.91$162.28$169.93
Upside / Downside805.37%848.45%893.16%

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