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 % |
|---|---|---|---|---|
| 002339.SZ | 002339.SZ | 0.62% | $0.06 | 59.84% |
| 002671.SZ | 002671.SZ | 0.62% | $0.03 | 17.06% |
| 039840.KQ | 039840.KQ | 0.62% | $104.16 | 27.01% |
| 077970.KS | 077970.KS | 0.62% | $206.61 | 16.12% |
| 241590.KS | 241590.KS | 0.62% | $31.17 | 50.06% |
| 300100.SZ | 300100.SZ | 0.62% | $0.25 | 18.34% |
| 300347.SZ | 300347.SZ | 0.62% | $0.35 | 49.79% |
| 300909.SZ | 300909.SZ | 0.62% | $0.30 | 62.13% |
| 300926.SZ | 300926.SZ | 0.62% | $0.20 | 10.12% |
| 3128.TWO | 3128.TWO | 0.62% | $0.18 | 11.90% |
| 600429.SS | 600429.SS | 0.62% | $0.03 | 25.51% |
| 600782.SS | 600782.SS | 0.62% | $0.02 | 7.85% |
| 600857.SS | 600857.SS | 0.62% | $0.09 | 50.22% |
| 603696.SS | 603696.SS | 0.62% | $0.13 | 73.51% |
| 688101.SS | 688101.SS | 0.62% | $0.10 | 8.44% |
| 688300.SS | 688300.SS | 0.62% | $0.39 | 32.51% |
| 688395.SS | 688395.SS | 0.62% | $0.15 | 35.48% |
| 7013.T | 7013.T | 0.62% | $17.20 | 14.09% |
| 9025.T | 9025.T | 0.62% | $20.47 | 8.73% |
| 000025.SZ | 000025.SZ | 0.61% | $0.11 | 30.16% |
| 002940.SZ | 002940.SZ | 0.61% | $0.21 | 37.21% |
| 0QLQ.L | 0QLQ.L | 0.61% | $2.00 | 31.20% |
| 1784.TWO | 1784.TWO | 0.61% | $0.64 | 47.49% |
| 300332.SZ | 300332.SZ | 0.61% | $0.03 | 30.72% |
| 300816.SZ | 300816.SZ | 0.61% | $0.29 | 31.83% |
| 600161.SS | 600161.SS | 0.61% | $0.10 | 14.98% |
| 603015.SS | 603015.SS | 0.61% | $0.08 | 66.24% |
| 605198.SS | 605198.SS | 0.61% | $0.23 | 22.16% |
| 7723.T | 7723.T | 0.61% | $16.43 | 6.48% |
| AHRN | AHRN | 0.61% | $0.06 | 10.79% |
| CPLP | CPLP | 0.61% | $0.11 | 6.01% |
| 000099.SZ | 000099.SZ | 0.60% | $0.13 | 27.49% |
| 000807.SZ | 000807.SZ | 0.60% | $0.20 | 13.68% |
| 001222.SZ | 001222.SZ | 0.60% | $0.14 | 15.30% |
| 002050.SZ | 002050.SZ | 0.60% | $0.33 | 34.64% |
| 002161.SZ | 002161.SZ | 0.60% | $0.04 | 29.57% |
| 002472.SZ | 002472.SZ | 0.60% | $0.29 | 20.47% |
| 002765.SZ | 002765.SZ | 0.60% | $0.08 | 27.22% |
| 010120.KS | 010120.KS | 0.60% | $2,945.88 | 32.90% |
| 017550.KS | 017550.KS | 0.60% | $10.02 | 5.13% |
| 039440.KQ | 039440.KQ | 0.60% | $199.01 | 11.65% |
| 2782.T | 2782.T | 0.60% | $21.01 | 7.80% |
| 300124.SZ | 300124.SZ | 0.60% | $0.45 | 23.25% |
| 300702.SZ | 300702.SZ | 0.60% | $0.14 | 25.44% |
| 336570.KQ | 336570.KQ | 0.60% | $49.80 | 11.16% |
| 3673.T | 3673.T | 0.60% | $4.40 | 38.38% |
| 6442.TW | 6442.TW | 0.60% | $8.34 | 44.18% |
| 688557.SS | 688557.SS | 0.60% | $0.22 | 15.86% |
| 688579.SS | 688579.SS | 0.60% | $0.07 | 40.32% |
| 7011.T | 7011.T | 0.60% | $22.95 | 30.46% |