Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Boyaa Interactive International Limited (0434.HK)

Company Dividend Discount ModelIndustry: Electronic Gaming & MultimediaSector: Technology

Valuation Snapshot

Stable Growth$4.81 - $6.35$5.61
Multi-Stage$8.52 - $9.41$8.96
Blended Fair Value$7.28
Current Price$5.55
Upside31.22%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-31.79%-14.31%0.040.000.000.000.000.240.000.000.000.07
YoY Growth--0.00%0.00%0.00%0.00%-100.00%0.00%0.00%0.00%-100.00%-59.87%
Dividend Yield--1.05%0.00%0.00%0.00%0.00%35.41%0.00%0.00%0.00%2.59%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)840.39
(-) Cash Dividends Paid (M)68.99
(=) Cash Retained (M)771.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)168.08105.0563.03
Cash Retained (M)771.40771.40771.40
(-) Cash Required (M)-168.08-105.05-63.03
(=) Excess Retained (M)603.32666.35708.37
(/) Shares Outstanding (M)670.07670.07670.07
(=) Excess Retained per Share0.900.991.06
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share0.900.991.06
(=) Adjusted Dividend1.001.101.16
WACC / Discount Rate9.98%9.98%9.98%
Growth Rate-9.01%-8.01%-7.01%
Fair Value$4.81$5.61$6.35
Upside / Downside-13.40%1.08%14.37%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)840.39773.05711.11654.13601.72553.50570.11
Payout Ratio8.21%24.57%40.93%57.28%73.64%90.00%92.50%
Projected Dividends (M)68.99189.92291.03374.71443.12498.15527.35

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.98%9.98%9.98%
Growth Rate-9.01%-8.01%-7.01%
Year 1 PV (M)170.81172.69174.56
Year 2 PV (M)235.39240.60245.86
Year 3 PV (M)272.58281.66290.95
Year 4 PV (M)289.89302.85316.24
Year 5 PV (M)293.10309.56326.76
PV of Terminal Value (M)4,443.904,693.534,954.26
Equity Value (M)5,705.676,000.896,308.62
Shares Outstanding (M)670.07670.07670.07
Fair Value$8.52$8.96$9.41
Upside / Downside53.42%61.36%69.64%

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