Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Changchun Yidong Clutch CO.,LTD (600148.SS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$0.33 - $0.46$0.40
Multi-Stage$1.04 - $1.14$1.09
Blended Fair Value$0.74
Current Price$19.73
Upside-96.23%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS145.27%-12.19%0.040.000.020.180.120.000.050.000.010.10
YoY Growth--0.00%-100.00%-88.42%57.46%26,146.92%-99.03%7,869.76%-95.48%-87.65%-28.86%
Dividend Yield--0.22%0.00%0.15%1.28%0.89%0.00%0.23%0.00%0.04%0.47%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)9.46
(-) Cash Dividends Paid (M)6.46
(=) Cash Retained (M)3.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.891.180.71
Cash Retained (M)3.003.003.00
(-) Cash Required (M)-1.89-1.18-0.71
(=) Excess Retained (M)1.111.822.29
(/) Shares Outstanding (M)142.55142.55142.55
(=) Excess Retained per Share0.010.010.02
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.010.010.02
(=) Adjusted Dividend0.050.060.06
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate-8.06%-7.06%-6.06%
Fair Value$0.33$0.40$0.46
Upside / Downside-98.30%-97.99%-97.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)9.468.798.177.597.056.566.75
Payout Ratio68.26%72.61%76.96%81.31%85.65%90.00%92.50%
Projected Dividends (M)6.466.386.296.176.045.906.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.51%6.51%6.51%
Growth Rate-8.06%-7.06%-6.06%
Year 1 PV (M)5.935.996.06
Year 2 PV (M)5.425.545.66
Year 3 PV (M)4.945.115.27
Year 4 PV (M)4.504.694.90
Year 5 PV (M)4.084.304.54
PV of Terminal Value (M)122.81129.64136.77
Equity Value (M)147.68155.28163.19
Shares Outstanding (M)142.55142.55142.55
Fair Value$1.04$1.09$1.14
Upside / Downside-94.75%-94.48%-94.20%

High-Yield Dividend Screener

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