Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Young Shine Electric Co., Ltd. (2249.TWO)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$3,946.20 - $4,650.11$4,357.45
Multi-Stage$3,192.70 - $3,507.39$3,347.08
Blended Fair Value$3,852.27
Current Price$82.73
Upside4,556.43%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS18.66%0.00%2.522.511.922.092.341.070.000.000.000.00
YoY Growth--0.26%30.67%-7.90%-10.71%118.32%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.29%3.67%5.20%4.69%5.07%1.94%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)565.54
(-) Cash Dividends Paid (M)120.50
(=) Cash Retained (M)445.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)113.1170.6942.42
Cash Retained (M)445.04445.04445.04
(-) Cash Required (M)-113.11-70.69-42.42
(=) Excess Retained (M)331.93374.35402.62
(/) Shares Outstanding (M)23.9623.9623.96
(=) Excess Retained per Share13.8515.6216.80
LTM Dividend per Share5.035.035.03
(+) Excess Retained per Share13.8515.6216.80
(=) Adjusted Dividend18.8820.6521.83
WACC / Discount Rate-1.99%-1.99%-1.99%
Growth Rate4.51%5.51%6.51%
Fair Value$3,946.20$4,357.45$4,650.11
Upside / Downside4,669.97%5,167.08%5,520.83%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)565.54596.70629.58664.26700.86739.47761.65
Payout Ratio21.31%35.05%48.78%62.52%76.26%90.00%92.50%
Projected Dividends (M)120.50209.12307.14415.32534.48665.52704.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-1.99%-1.99%-1.99%
Growth Rate4.51%5.51%6.51%
Year 1 PV (M)211.35213.38215.40
Year 2 PV (M)313.73319.76325.85
Year 3 PV (M)428.77441.19453.86
Year 4 PV (M)557.69579.34601.62
Year 5 PV (M)701.83736.06771.61
PV of Terminal Value (M)74,296.8977,920.1281,683.35
Equity Value (M)76,510.2680,209.8684,051.69
Shares Outstanding (M)23.9623.9623.96
Fair Value$3,192.70$3,347.08$3,507.39
Upside / Downside3,759.18%3,945.78%4,139.57%

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