Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Xiamen Xiangyu Co., Ltd. (600057.SS)

Company Dividend Discount ModelIndustry: Integrated Freight & LogisticsSector: Industrials

Valuation Snapshot

Stable Growth$11.26 - $19.44$14.78
Multi-Stage$11.18 - $12.17$11.67
Blended Fair Value$13.23
Current Price$7.01
Upside88.66%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS3.58%13.26%0.821.261.090.810.770.690.470.340.180.22
YoY Growth---34.43%15.53%34.43%4.56%11.98%48.60%36.63%85.15%-14.98%-8.84%
Dividend Yield--14.05%18.77%10.13%9.20%12.04%13.53%9.11%6.25%2.60%3.31%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,162.43
(-) Cash Dividends Paid (M)1,675.21
(=) Cash Retained (M)487.22
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)432.49270.30162.18
Cash Retained (M)487.22487.22487.22
(-) Cash Required (M)-432.49-270.30-162.18
(=) Excess Retained (M)54.73216.92325.04
(/) Shares Outstanding (M)2,539.042,539.042,539.04
(=) Excess Retained per Share0.020.090.13
LTM Dividend per Share0.660.660.66
(+) Excess Retained per Share0.020.090.13
(=) Adjusted Dividend0.680.750.79
WACC / Discount Rate10.42%10.42%10.42%
Growth Rate4.12%5.12%6.12%
Fair Value$11.26$14.78$19.44
Upside / Downside60.64%110.86%177.36%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,162.432,273.222,389.682,512.102,640.802,776.092,859.38
Payout Ratio77.47%79.98%82.48%84.99%87.49%90.00%92.50%
Projected Dividends (M)1,675.211,818.011,971.042,134.982,310.542,498.482,644.92

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.42%10.42%10.42%
Growth Rate4.12%5.12%6.12%
Year 1 PV (M)1,630.741,646.401,662.06
Year 2 PV (M)1,585.891,616.501,647.40
Year 3 PV (M)1,540.851,585.671,631.36
Year 4 PV (M)1,495.791,554.081,614.06
Year 5 PV (M)1,450.851,521.871,595.64
PV of Terminal Value (M)20,690.6621,703.4922,755.61
Equity Value (M)28,394.7729,628.0230,906.14
Shares Outstanding (M)2,539.042,539.042,539.04
Fair Value$11.18$11.67$12.17
Upside / Downside59.53%66.46%73.64%

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