Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Goneo Group Co., Ltd. (603195.SS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$46.18 - $100.63$66.21
Multi-Stage$206.51 - $228.04$217.06
Blended Fair Value$141.63
Current Price$44.66
Upside217.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1.791.300.950.801.470.000.121.340.410.30
YoY Growth--38.12%36.08%19.66%-45.81%0.00%-100.00%-91.18%225.59%36.64%0.00%
Dividend Yield--3.48%2.55%1.81%1.86%2.47%0.00%0.42%4.72%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,987.63
(-) Cash Dividends Paid (M)3,104.10
(=) Cash Retained (M)883.52
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)797.53498.45299.07
Cash Retained (M)883.52883.52883.52
(-) Cash Required (M)-797.53-498.45-299.07
(=) Excess Retained (M)86.00385.07584.45
(/) Shares Outstanding (M)1,551.851,551.851,551.85
(=) Excess Retained per Share0.060.250.38
LTM Dividend per Share2.002.002.00
(+) Excess Retained per Share0.060.250.38
(=) Adjusted Dividend2.062.252.38
WACC / Discount Rate2.36%2.36%2.36%
Growth Rate-2.00%-1.00%0.00%
Fair Value$46.18$66.21$100.63
Upside / Downside3.41%48.25%125.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,987.633,947.753,908.273,869.193,830.503,792.193,905.96
Payout Ratio77.84%80.27%82.71%85.14%87.57%90.00%92.50%
Projected Dividends (M)3,104.103,169.043,232.373,294.123,354.313,412.973,613.01

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.36%2.36%2.36%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)3,064.643,095.923,127.19
Year 2 PV (M)3,022.913,084.923,147.56
Year 3 PV (M)2,979.183,071.313,165.32
Year 4 PV (M)2,933.683,055.263,180.59
Year 5 PV (M)2,886.643,036.963,193.47
PV of Terminal Value (M)305,583.35321,495.78338,064.30
Equity Value (M)320,470.40336,840.15353,878.43
Shares Outstanding (M)1,551.851,551.851,551.85
Fair Value$206.51$217.06$228.04
Upside / Downside362.40%386.02%410.61%

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