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
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|---|---|---|---|---|
| 688006.SS | 688006.SS | 0.77% | $0.23 | 40.60% |
| 688106.SS | 688106.SS | 0.77% | $0.15 | 67.86% |
| 688665.SS | 688665.SS | 0.77% | $0.38 | 23.98% |
| 7187.T | 7187.T | 0.77% | $11.20 | 8.80% |
| 9879.HK | 9879.HK | 0.77% | $0.06 | 9.90% |
| AER | AER | 0.77% | $1.12 | 5.14% |
| BKL.AX | BKL.AX | 0.77% | $0.73 | 37.39% |
| BORR | BORR | 0.77% | $0.03 | 12.72% |
| NTHOL.IS | NTHOL.IS | 0.77% | $0.38 | 6.82% |
| OSW | OSW | 0.77% | $0.16 | 22.40% |
| PAP.AT | PAP.AT | 0.77% | $0.03 | 13.39% |
| 002444.SZ | 002444.SZ | 0.76% | $0.26 | 12.20% |
| 002821.SZ | 002821.SZ | 0.76% | $0.71 | 24.14% |
| 300174.SZ | 300174.SZ | 0.76% | $0.12 | 17.32% |
| 300739.SZ | 300739.SZ | 0.76% | $0.14 | 96.29% |
| 5457.TWO | 5457.TWO | 0.76% | $0.32 | 12.63% |
| 600223.SS | 600223.SS | 0.76% | $0.06 | 26.50% |
| 600305.SS | 600305.SS | 0.76% | $0.06 | 44.11% |
| 601689.SS | 601689.SS | 0.76% | $0.59 | 37.35% |
| 603276.SS | 603276.SS | 0.76% | $0.13 | 63.62% |
| 603602.SS | 603602.SS | 0.76% | $0.11 | 87.04% |
| 6037.T | 6037.T | 0.76% | $8.26 | 14.70% |
| 688518.SS | 688518.SS | 0.76% | $0.19 | 35.43% |
| BIR-PA.TO | BIR-PA.TO | 0.76% | $0.19 | 70.83% |
| BNT | BNT | 0.76% | $0.35 | 8.16% |
| GOTL-A.ST | GOTL-A.ST | 0.76% | $20.31 | 59.62% |
| 002700.KS | 002700.KS | 0.75% | $9.92 | 21.49% |
| 019180.KS | 019180.KS | 0.75% | $60.02 | 2.14% |
| 1471.HK | 1471.HK | 0.75% | $0.13 | 37.87% |
| 2492.T | 2492.T | 0.75% | $3.16 | 44.10% |
| 300176.SZ | 300176.SZ | 0.75% | $0.05 | 74.24% |
| 300790.SZ | 300790.SZ | 0.75% | $0.22 | 35.26% |
| 300971.SZ | 300971.SZ | 0.75% | $0.18 | 29.36% |
| 329180.KS | 329180.KS | 0.75% | $3,761.22 | 25.83% |
| 375500.KS | 375500.KS | 0.75% | $300.93 | 16.73% |
| 603538.SS | 603538.SS | 0.75% | $0.14 | 34.15% |
| 603698.SS | 603698.SS | 0.75% | $0.29 | 79.72% |
| 603979.SS | 603979.SS | 0.75% | $0.57 | 16.95% |
| 605128.SS | 605128.SS | 0.75% | $0.28 | 37.61% |
| 6693.HK | 6693.HK | 0.75% | $0.23 | 19.89% |
| 7092.T | 7092.T | 0.75% | $17.23 | 13.99% |
| 9072.T | 9072.T | 0.75% | $25.57 | 19.54% |
| 9822.KL | 9822.KL | 0.75% | $0.03 | 22.52% |
| NZL.NZ | NZL.NZ | 0.75% | $0.01 | 3.51% |
| TOSK.JK | TOSK.JK | 0.75% | $0.47 | 26.94% |
| WTON.JK | WTON.JK | 0.75% | $0.75 | 16.39% |
| 000800.SZ | 000800.SZ | 0.74% | $0.05 | 39.16% |
| 002101.SZ | 002101.SZ | 0.74% | $0.09 | 16.78% |
| 002145.SZ | 002145.SZ | 0.74% | $0.04 | 30.03% |
| 002463.SZ | 002463.SZ | 0.74% | $0.54 | 30.40% |