Dividend Discount Models Snapshot
| Model | Range | Selected |
|---|---|---|
| Stable Growth DDM | $133.25 - $243.43 | $178.02 |
| Multi-Stage DDM | $100.63 - $110.15 | $105.30 |
| Blended Fair Value | $141.66 | |
| Stock Price | $259.51 | |
Dividend History (Last 10 Years)
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 1.028 | 0.989 | 0.950 | 0.909 | 0.858 | 0.803 | 0.759 | 0.686 | 0.608 | 0.552 |
| YoY % | 3.95% | 4.05% | 4.53% | 5.97% | 6.78% | 5.80% | 10.75% | 12.79% | 10.07% | 10.69% |
| Yield | 0.40% | 0.38% | 0.37% | 0.35% | 0.33% | 0.31% | 0.29% | 0.26% | 0.23% | 0.21% |
| CAGR | Value |
|---|---|
| 5 Year | 5.05% |
| 10 Year | 7.49% |
Discounted Dividend Model - Stable Growth
| Metric | Range | Selected |
|---|---|---|
| LT Growth | 3.56% to 5.56% | 4.56% |
| WACC | 9.00% | 9.00% |
| Fair Value | $133.25 - $243.43 | $178.02 |
Calculation Details (Millions)
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (*) Adjusted Net Income | 112,010.00 | 112,010.00 | 112,010.00 |
| (=) Cash Required | 22,402.00 | 14,001.25 | 8,400.75 |
| (=) Excess Retained per Share | 5.97 | 6.53 | 6.91 |
| LTM Dividend per Share | 1.028 | 1.028 | 1.028 |
| (=) Adjusted Dividend | 7.000 | 7.560 | 7.933 |
Multi-Stage Projections (BASE Case - Millions)
| Metric | TTM | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|---|
| Net Income | 112,010.00 | 117,117.64 | 122,458.18 | 128,042.25 | 133,880.96 | 139,985.90 |
| Projected Dividends | 15,421.00 | 29,279.41 | 50,207.85 | 72,984.08 | 97,733.10 | 125,987.31 |
Multi-Stage Valuation (Millions)
| Present Values | LOW | BASE | HIGH |
|---|---|---|---|
| Year 1 PV | 27,776.37 | 28,044.59 | 28,312.80 |
| Year 2 PV | 43,279.76 | 44,119.63 | 44,967.58 |
| Year 3 PV | 57,166.46 | 58,838.54 | 60,542.92 |
| Year 4 PV | 69,559.23 | 72,285.12 | 75,090.35 |
| Year 5 PV | 81,477.91 | 85,488.48 | 89,655.43 |
| TV PV | 1,230,657.40 | 1,291,233.65 | 1,354,172.13 |
| Equity Value | 1,509,917.14 | 1,580,010.01 | 1,652,741.22 |
| Fair Value | $100.63 | $105.30 | $110.15 |
Top Dividend Stocks
| Ticker | Company Name | Yield % | DPS | Payout % |
|---|---|---|---|---|
| 300408.SZ | 300408.SZ | 0.83% | $0.38 | 28.62% |
| 3484.T | 3484.T | 0.83% | $9.97 | 13.59% |
| 353200.KS | 353200.KS | 0.83% | $400.28 | 78.17% |
| 357780.KQ | 357780.KQ | 0.83% | $2,325.57 | 26.44% |
| 600163.SS | 600163.SS | 0.83% | $0.04 | 14.96% |
| 603297.SS | 603297.SS | 0.83% | $0.87 | 44.04% |
| 603344.SS | 603344.SS | 0.83% | $0.31 | 31.21% |
| 603755.SS | 603755.SS | 0.83% | $0.30 | 40.12% |
| 605123.SS | 605123.SS | 0.83% | $0.86 | 40.88% |
| 6624.TWO | 6624.TWO | 0.83% | $0.54 | 43.67% |
| GYL.OL | GYL.OL | 0.83% | $3.92 | 5.79% |
| HHGC | HHGC | 0.83% | $0.09 | 31.96% |
| 000425.SZ | 000425.SZ | 0.82% | $0.10 | 16.53% |
| 0522.HK | 0522.HK | 0.82% | $0.67 | 78.47% |
| 300439.SZ | 300439.SZ | 0.82% | $0.08 | 32.74% |
| 300634.SZ | 300634.SZ | 0.82% | $0.21 | 40.12% |
| 300703.SZ | 300703.SZ | 0.82% | $0.20 | 28.25% |
| 300871.SZ | 300871.SZ | 0.82% | $0.17 | 15.92% |
| 5285.KL | 5285.KL | 0.82% | $0.05 | 11.78% |
| 600038.SS | 600038.SS | 0.82% | $0.30 | 42.43% |
| 600097.SS | 600097.SS | 0.82% | $0.09 | 21.30% |
| 600584.SS | 600584.SS | 0.82% | $0.30 | 36.16% |
| 600787.SS | 600787.SS | 0.82% | $0.05 | 21.59% |
| 688510.SS | 688510.SS | 0.82% | $0.22 | 51.21% |
| ALLHB.PA | ALLHB.PA | 0.82% | $0.60 | 15.34% |
| AON | AON | 0.82% | $2.83 | 22.49% |
| IAR-B.ST | IAR-B.ST | 0.82% | $1.47 | 26.71% |
| 000738.SZ | 000738.SZ | 0.81% | $0.17 | 43.46% |
| 000833.SZ | 000833.SZ | 0.81% | $0.16 | 25.49% |
| 002889.SZ | 002889.SZ | 0.81% | $0.12 | 30.64% |
| 002979.SZ | 002979.SZ | 0.81% | $0.34 | 49.51% |
| 300037.SZ | 300037.SZ | 0.81% | $0.42 | 32.43% |
| 300444.SZ | 300444.SZ | 0.81% | $0.08 | 69.59% |
| 300918.SZ | 300918.SZ | 0.81% | $0.15 | 41.07% |
| 603022.SS | 603022.SS | 0.81% | $0.08 | 31.63% |
| 603166.SS | 603166.SS | 0.81% | $0.13 | 27.96% |
| 688689.SS | 688689.SS | 0.81% | $0.23 | 40.07% |
| 688786.SS | 688786.SS | 0.81% | $0.23 | 43.35% |
| KIJA.JK | KIJA.JK | 0.81% | $1.69 | 22.92% |
| VTRU | VTRU | 0.81% | $0.07 | 4.55% |
| 002156.SZ | 002156.SZ | 0.80% | $0.30 | 46.36% |
| 002950.SZ | 002950.SZ | 0.80% | $0.09 | 11.97% |
| 003960.KS | 003960.KS | 0.80% | $295.03 | 3.88% |
| 0DWV.L | 0DWV.L | 0.80% | $0.90 | 15.53% |
| 2536.HK | 2536.HK | 0.80% | $0.02 | 58.64% |
| 300855.SZ | 300855.SZ | 0.80% | $0.26 | 77.09% |
| 3867.KL | 3867.KL | 0.80% | $0.25 | 28.08% |
| 600635.SS | 600635.SS | 0.80% | $0.05 | 26.60% |
| 603366.SS | 603366.SS | 0.80% | $0.08 | 34.34% |
| 603798.SS | 603798.SS | 0.80% | $0.13 | 64.02% |