Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
17.07% |
| Profit Margins |
7.54% |
| Return on Equity |
5.72% |
| Return on Assets |
5.12% |
| Free Float |
0.39B |
| Dividend Yield |
11.0% |
| Short Int % Utilisation |
4.38% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
7.6% |
| Free Cash Flow |
1.04B |
| EBITDA |
15.48 (Ratio) |
| Enterprise Value |
31.31B |
| EV/Revenue |
4.02 |
| EV/EBITDA |
15.48 |
Revenue growth of 7.6% indicates steady, moderate expansion.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
12.49% |
| Risk / Std Dev (Ann.)* |
32.98% |
| 1-Year Price Return* |
6.52% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$83.34 |
| 52-Week Range |
$68.07 – $100.96 |
| Observation Count |
250 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. Revenue and net income are income-statement flows; total assets and shareholders’ equity are year-end balance-sheet figures. This is a simplified year-end-balance DuPont comparison rather than an average-balance ROE calculation.
| DuPont component |
Calculation |
FY2025 |
FY2024 |
| Revenue |
Reported revenue |
$7.65B |
$7.24B |
| Net income |
Reported net income |
$581.40M |
$838.60M |
| Total assets |
Year-end reported balance |
$18.30B |
$18.01B |
| Shareholders’ equity |
Year-end reported balance |
$10.09B |
$10.18B |
| Net margin |
Net income ÷ revenue |
7.60% |
11.59% |
| Asset turnover |
Revenue ÷ total assets |
0.4181x |
0.4017x |
| Equity multiplier |
Total assets ÷ shareholders’ equity |
1.8134x |
1.7693x |
| ROE |
Net margin × asset turnover × equity multiplier |
5.76% |
8.24% |
Source: Yahoo Finance annual statements. Values are based on the two latest comparable annual periods returned by the source; fiscal period labels use the statement period-end year.
2.5 FCFF DCF Valuation
Valuation basis: This research model follows a five-year, unlevered FCFF DCF. It starts from reported annual operating inputs, forecasts revenue and operating cash conversion under an explicit mechanical policy, discounts FCFF at WACC, applies a Gordon-growth terminal value, and bridges enterprise value to an indicative common-equity value per share. It is an analytical estimate rather than a recommendation or personalised target price.
Step 1 — Forecast Operating Profit and NOPAT
| Reported operating input |
Value |
| Revenue |
$7.65B |
| Prior annual revenue |
$7.24B |
| EBIT |
$1.19B |
| Tax rate |
23.50% |
| NOPAT = EBIT × (1 − tax rate) |
$909.74M |
| Forecast start-growth basis |
5.75% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$909.74M |
| Add: depreciation & amortisation |
$505.80M |
| Less: capital expenditure |
-$135.60M |
| Less/(add): working-capital cash-flow movement |
-$159.30M |
| Current unlevered FCFF |
$1.12B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
5.75% |
$962.03M |
$534.88M |
-$143.39M |
-$168.46M |
$1.19B |
$1.13B |
| 2 |
4.94% |
$1.01B |
$561.28M |
-$253.17M |
-$176.77M |
$1.14B |
$986.83M |
| 3 |
4.12% |
$1.05B |
$584.43M |
-$370.55M |
-$184.06M |
$1.08B |
$848.85M |
| 4 |
3.31% |
$1.09B |
$603.78M |
-$493.31M |
-$190.16M |
$1.01B |
$717.38M |
| 5 |
2.50% |
$1.11B |
$618.88M |
-$618.88M |
-$194.91M |
$918.21M |
$594.25M |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
1.16 |
| Cost of equity |
11.10% |
| Pre-tax cost of debt |
5.25% |
| WACC |
10.15% |
| WACC validation |
within standard range |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$12.30B |
| Implied terminal EV / EBITDA |
5.93x |
| Terminal value as % of enterprise value |
63.94% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$4.28B |
| Present value of terminal value |
$7.58B |
| Indicated enterprise value |
$11.86B |
| Discounting convention |
mid-year for explicit FCFF; terminal value discounted at year-end five |
Step 6 — Convert Enterprise Value to Equity Value
| Equity bridge |
Value |
| Indicated enterprise value |
$11.86B |
| Less: gross interest-bearing debt |
$4.85B |
| Add: cash and equivalents |
$1.25B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$64.20M |
| Indicated common equity value |
$8.20B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
401,000,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$81.08 |
| DCF indicative value per share |
$20.44 |
| Indicative value vs. market price |
-74.79% |
Model Integrity Checks
| Check |
Result |
| Perpetuity growth is below the risk-free rate |
pass |
| Perpetuity growth is below WACC |
pass |
| WACC is within the configured operating-company range |
pass |
| Terminal-year FCFF is positive |
pass |
| Terminal capex converges to D&A |
pass |
| Terminal-value concentration |
within review band |
| Implied price differs from spot by more than 30% |
review required |
2.6 Investor-Style Research Screen
| Educational screen |
Result |
| Buffett-inspired cash-quality checks |
4/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
4/4 evidenced checks |
Data lineage: Yahoo Finance public market and reported-statement data; retrieval timestamp: 2026-08-18 17:38:08.850124 UTC; latest reported fiscal period: 2025-12-31 00:00:00. Default assumptions: five-year forecast, mid-year discounting for explicit FCFF, a maximum 2.50% perpetuity-growth rate below both WACC and the risk-free rate, historical operating-ratio persistence, and capex convergence to D&A by year five. No sell-side consensus or management guidance is substituted for reported inputs. This is research and analysis only, not personalized financial advice.
2.7 Quantitative Factor Diagnostics
Model basis: Daily issuer USD excess returns are regressed in-sample using ordinary least squares on matching regional Fama–French factors. FF3 estimates market, size, and value loadings; FF5 adds profitability and investment. Coefficients are descriptive historical exposures, not predictions.
| Estimation input |
Value |
| Regional factor set |
US |
| Factor-return currency |
USD |
| Issuer-return basis |
USD adjusted total return |
| Estimation window |
2025-08-19 to 2026-06-30 |
| Aligned daily observations |
217 |
| Minimum observation requirement |
120 |
| Currency conversion for HK listings |
not required |
Fama–French Three-Factor and Five-Factor Results
| Diagnostic |
FF3 |
FF5 |
| Annualised alpha |
-31.94% |
-20.94% |
| Adjusted R² |
0.44 |
0.49 |
| Annualised residual volatility |
24.34% |
23.17% |
| Factor loading (t-statistic) |
FF3 |
FF5 |
| Market excess return (Mkt-RF) |
1.37 (9.60) |
1.71 (10.90) |
| Size (SMB) |
0.86 (4.45) |
0.77 (3.86) |
| Value (HML) |
0.82 (4.93) |
0.35 (1.81) |
| Profitability (RMW) |
NM |
0.44 (2.65) |
| Investment (CMA) |
NM |
0.92 (3.19) |
Definitions: Mkt-RF is the market return less the risk-free rate; SMB is small minus big; HML is high minus low book-to-market; RMW is robust minus weak profitability; CMA is conservative minus aggressive investment. Factor returns are sourced from the Kenneth R. French Data Library; issuer adjusted-return history is sourced from Yahoo Finance. For Hong Kong listings, adjusted HKD prices are converted into USD with daily USD/HKD closes before return calculation to match the USD regional factor basis. This is an in-sample historical regression; coefficients and t-statistics do not establish causation or predict future returns. This is research and analysis only, not personalized financial advice.