Discounted Cash Flow
Douyu International Holdings Ltd. ADR
—
Audit / VIE / HFCA: Chinese ADR (VIE contractual structure, HFCA Act): the PCAOB must inspect the China-based auditor (e.g. Deloitte/EY China) or the ADRs can be delisted; dividends must be repatriated through the WFOE/VIE and can be blocked. The audit relies on contractual VIE control, not equity, adding structural risk.
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | — | — | — | — | — |
| 2017 | $281.1m | $-91.4m | $-60.4m | -32.5% | $-74.85 |
| 2018 | $544.8m (93.8%) | $-131.6m (-44.1%) | $-55.2m (8.5%) | -24.2% (25.7%) | $-108.80 (-45.4%) |
| 2019 | $155.2m (-71.5%) | $847.2k (100.6%) | $17.0m (130.8%) | 0.5% (102.3%) | $0.19 (100.2%) |
| 2020 | $219.4m (41.3%) | $11.1m (1209.3%) | $99.1m (483.4%) | 5.1% (826.4%) | $2.33 (1126.3%) |
| 2021 | $214.4m (-2.3%) | $-13.6m (-222.7%) | $-87.6m (-188.4%) | -6.3% (-225.6%) | $-2.81 (-220.6%) |
| 2022 | $153.6m (-28.3%) | $-1.6m (88.0%) | $-10.2m (88.3%) | -1.1% (83.3%) | $-0.34 (87.9%) |
| 2023 | $116.1m (-24.4%) | $745.8k (145.7%) | $-7.2m (29.5%) | 0.6% (160.5%) | $0.16 (147.1%) |
| 2024 | $87.2m (-24.9%) | $-6.3m (-940.2%) | $-35.6m (-393.6%) | -7.2% (-1218.6%) | $-1.36 (-950.0%) |
| 2025 | $81.4m (-6.7%) | $-620.0k (90.1%) | $-7.8m (78.1%) | -0.8% (89.4%) | $-0.14 (89.7%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.