There is an urgent need for the Chinese market to conduct analytical research on the actual value of stocks rationally, and the issue of determining whether a store has investment value has become a hot topic. The dividend discounting model proposed by Williams is a method to calculate and study the intrinsic value of common stocks using the tip discounting method. With the help of this model, investors can make more accurate, objective, and rational judgments with the support of a large amount of data. In this paper, I will present basic information about the dividend discount model and analyze the advantages and disadvantages of the model and each derived formula in terms of applicability and limitations. To make my research more convincing, the paper will take the typical popular Internet companies iFLTTEK. Col.Ltd. and Tencent as examples. I will try to value these companies based on the dividend discount model with detailed data from the financial statements in a case study.