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Tradelink Electronic Commerce Limited (0536.HK)

Company Dividend Discount ModelIndustry: Software - ApplicationSector: Technology

Valuation Snapshot

Stable Growth$1.99 - $3.00$2.47
Multi-Stage$4.00 - $4.39$4.19
Blended Fair Value$3.33
Current Price$0.94
Upside254.24%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS1.46%0.23%0.100.110.080.100.080.090.100.090.100.12
YoY Growth---10.07%34.30%-17.61%18.94%-9.14%-5.10%3.16%-8.63%-14.70%24.72%
Dividend Yield--10.87%12.64%9.41%8.66%8.89%8.09%8.45%7.09%6.50%6.81%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)185.53
(-) Cash Dividends Paid (M)159.72
(=) Cash Retained (M)25.81
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)37.1123.1913.91
Cash Retained (M)25.8125.8125.81
(-) Cash Required (M)-37.11-23.19-13.91
(=) Excess Retained (M)-11.302.6211.89
(/) Shares Outstanding (M)794.63794.63794.63
(=) Excess Retained per Share-0.010.000.01
LTM Dividend per Share0.200.200.20
(+) Excess Retained per Share-0.010.000.01
(=) Adjusted Dividend0.190.200.22
WACC / Discount Rate7.43%7.43%7.43%
Growth Rate-1.77%-0.77%0.23%
Fair Value$1.99$2.47$3.00
Upside / Downside112.04%162.83%219.61%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)185.53184.10182.68181.28179.88178.49183.85
Payout Ratio86.09%86.87%87.65%88.44%89.22%90.00%92.50%
Projected Dividends (M)159.72159.93160.13160.31160.48160.64170.06

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.43%7.43%7.43%
Growth Rate-1.77%-0.77%0.23%
Year 1 PV (M)147.36148.86150.36
Year 2 PV (M)135.95138.73141.54
Year 3 PV (M)125.41129.28133.23
Year 4 PV (M)115.68120.46125.39
Year 5 PV (M)106.70112.24118.01
PV of Terminal Value (M)2,546.892,679.192,816.94
Equity Value (M)3,177.983,328.773,485.47
Shares Outstanding (M)794.63794.63794.63
Fair Value$4.00$4.19$4.39
Upside / Downside325.46%345.64%366.62%

High-Yield Dividend Screener

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