Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
8.01% |
| Profit Margins |
6.15% |
| Return on Equity |
12.25% |
| Return on Assets |
4.56% |
| Free Float |
0.17B |
| Dividend Yield |
9.0% |
| Short Int % Utilisation |
3.15% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
11.8% |
| Free Cash Flow |
0.62B |
| EBITDA |
11.04 (Ratio) |
| Enterprise Value |
18.59B |
| EV/Revenue |
1.22 |
| EV/EBITDA |
11.04 |
Revenue growth of 11.8% indicates steady, moderate expansion.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
17.11% |
| Risk / Std Dev (Ann.)* |
26.61% |
| 1-Year Price Return* |
12.92% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$89.00 |
| 52-Week Range |
$78.12 – $101.57 |
| Observation Count |
251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. 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 |
$14.80B |
$13.70B |
| Net income |
Reported net income |
$921.00M |
$824.00M |
| Total assets |
Year-end reported balance |
$18.13B |
$16.84B |
| Shareholders’ equity |
Year-end reported balance |
$7.88B |
$7.20B |
| Net margin |
Net income ÷ revenue |
6.22% |
6.01% |
| Asset turnover |
Revenue ÷ total assets |
0.8163x |
0.8138x |
| Equity multiplier |
Total assets ÷ shareholders’ equity |
2.3021x |
2.3373x |
| ROE |
Net margin × asset turnover × equity multiplier |
11.70% |
11.44% |
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 |
$14.80B |
| Prior annual revenue |
$13.70B |
| EBIT |
$1.26B |
| Tax rate |
18.80% |
| NOPAT = EBIT × (1 − tax rate) |
$1.03B |
| Forecast start-growth basis |
8.01% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$1.03B |
| Add: depreciation & amortisation |
$401.00M |
| Less: capital expenditure |
-$383.00M |
| Less/(add): working-capital cash-flow movement |
-$298.00M |
| Current unlevered FCFF |
$745.56M |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
8.01% |
$1.11B |
$433.10M |
-$413.66M |
-$321.86M |
$805.25M |
$773.84M |
| 2 |
6.63% |
$1.18B |
$461.82M |
-$446.27M |
-$343.20M |
$853.45M |
$757.42M |
| 3 |
5.25% |
$1.24B |
$486.08M |
-$475.17M |
-$361.22M |
$892.83M |
$731.75M |
| 4 |
3.88% |
$1.29B |
$504.92M |
-$499.25M |
-$375.23M |
$921.77M |
$697.69M |
| 5 |
2.50% |
$1.32B |
$517.54M |
-$517.54M |
-$384.61M |
$939.01M |
$656.37M |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
0.91 |
| Cost of equity |
9.71% |
| Pre-tax cost of debt |
3.38% |
| WACC |
8.28% |
| WACC validation |
within standard range |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$16.64B |
| Implied terminal EV / EBITDA |
7.75x |
| Terminal value as % of enterprise value |
75.56% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$3.62B |
| Present value of terminal value |
$11.18B |
| Indicated enterprise value |
$14.80B |
| 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 |
$14.80B |
| Less: gross interest-bearing debt |
$3.88B |
| Add: cash and equivalents |
$2.02B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$0.00 |
| Indicated common equity value |
$12.94B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
180,258,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$87.82 |
| DCF indicative value per share |
$71.81 |
| Indicative value vs. market price |
-18.24% |
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% |
within review band |
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 17:52:10.983869 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 |
-10.99% |
-0.20% |
| Adjusted R² |
0.28 |
0.34 |
| Annualised residual volatility |
21.87% |
20.79% |
| Factor loading (t-statistic) |
FF3 |
FF5 |
| Market excess return (Mkt-RF) |
0.81 (6.31) |
1.08 (7.67) |
| Size (SMB) |
0.63 (3.62) |
0.48 (2.66) |
| Value (HML) |
0.54 (3.64) |
0.08 (0.43) |
| Profitability (RMW) |
NM |
0.25 (1.66) |
| Investment (CMA) |
NM |
1.03 (3.97) |
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.