Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Jing-jin Electric Technologies Co.,Ltd. (688280.SS)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$1.77 - $10.37$3.27
Multi-Stage$4.88 - $5.39$5.13
Blended Fair Value$4.20
Current Price$8.52
Upside-50.70%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS13.14%0.00%0.020.020.020.020.010.010.020.090.000.00
YoY Growth---5.15%4.86%-11.38%325.88%-50.61%-30.18%-83.54%0.00%0.00%0.00%
Dividend Yield--0.36%0.40%0.22%0.22%0.03%0.06%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)33.56
(-) Cash Dividends Paid (M)7.30
(=) Cash Retained (M)26.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.714.192.52
Cash Retained (M)26.2626.2626.26
(-) Cash Required (M)-6.71-4.19-2.52
(=) Excess Retained (M)19.5522.0623.74
(/) Shares Outstanding (M)598.35598.35598.35
(=) Excess Retained per Share0.030.040.04
LTM Dividend per Share0.010.010.01
(+) Excess Retained per Share0.030.040.04
(=) Adjusted Dividend0.040.050.05
WACC / Discount Rate0.48%0.48%0.48%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.77$3.27$10.37
Upside / Downside-79.23%-61.58%21.77%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)33.5633.2232.8932.5632.2331.9132.87
Payout Ratio21.75%35.40%49.05%62.70%76.35%90.00%92.50%
Projected Dividends (M)7.3011.7616.1320.4124.6128.7230.40

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate0.48%0.48%0.48%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)11.5811.7011.82
Year 2 PV (M)15.6515.9816.30
Year 3 PV (M)19.5220.1220.74
Year 4 PV (M)23.1824.1425.13
Year 5 PV (M)26.6528.0329.48
PV of Terminal Value (M)2,820.882,967.763,120.71
Equity Value (M)2,917.463,067.743,224.18
Shares Outstanding (M)598.35598.35598.35
Fair Value$4.88$5.13$5.39
Upside / Downside-42.77%-39.82%-36.75%

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