Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Teemsun Technology Co Ltd (301571.SZ)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$47.77 - $192.50$127.36
Multi-Stage$93.83 - $103.71$98.67
Blended Fair Value$113.02
Current Price$45.90
Upside146.22%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.090.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)191.55
(-) Cash Dividends Paid (M)24.79
(=) Cash Retained (M)166.75
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)38.3123.9414.37
Cash Retained (M)166.75166.75166.75
(-) Cash Required (M)-38.31-23.94-14.37
(=) Excess Retained (M)128.44142.81152.39
(/) Shares Outstanding (M)184.09184.09184.09
(=) Excess Retained per Share0.700.780.83
LTM Dividend per Share0.130.130.13
(+) Excess Retained per Share0.700.780.83
(=) Adjusted Dividend0.830.910.96
WACC / Discount Rate-0.29%-0.29%-0.29%
Growth Rate-2.00%-1.00%0.00%
Fair Value$47.77$127.36$192.50
Upside / Downside4.07%177.48%319.38%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)191.55189.63187.74185.86184.00182.16187.62
Payout Ratio12.94%28.36%43.77%59.18%74.59%90.00%92.50%
Projected Dividends (M)24.7953.7782.16109.99137.24163.94173.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate-0.29%-0.29%-0.29%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)53.3853.9354.47
Year 2 PV (M)80.9982.6584.33
Year 3 PV (M)107.63110.96114.35
Year 4 PV (M)133.33138.86144.56
Year 5 PV (M)158.13166.36174.93
PV of Terminal Value (M)16,739.4317,611.0918,518.69
Equity Value (M)17,272.8918,163.8419,091.33
Shares Outstanding (M)184.09184.09184.09
Fair Value$93.83$98.67$103.71
Upside / Downside104.42%114.97%125.94%

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