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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| 003350.KS | 003350.KS | 0.39% | $200.00 | 2.82% |
| 069620.KS | 069620.KS | 0.39% | $639.60 | 9.80% |
| 2442.TW | 2442.TW | 0.39% | $0.10 | 12.79% |
| 300354.SZ | 300354.SZ | 0.39% | $0.18 | 19.89% |
| 300707.SZ | 300707.SZ | 0.39% | $0.06 | 48.39% |
| 3397.T | 3397.T | 0.39% | $16.43 | 31.03% |
| AIX2.F | AIX2.F | 0.39% | $0.16 | 15.58% |
| GDG.AX | GDG.AX | 0.39% | $0.02 | 3.79% |
| ISUR.MC | ISUR.MC | 0.39% | $0.06 | 39.75% |
| 002128.SZ | 002128.SZ | 0.38% | $0.11 | 4.74% |
| 002364.SZ | 002364.SZ | 0.38% | $0.10 | 58.42% |
| 002570.SZ | 002570.SZ | 0.38% | $0.02 | 20.08% |
| 002636.SZ | 002636.SZ | 0.38% | $0.06 | 41.65% |
| 1855.HK | 1855.HK | 0.38% | $0.00 | 2.43% |
| 300886.SZ | 300886.SZ | 0.38% | $0.10 | 25.58% |
| 301168.SZ | 301168.SZ | 0.38% | $0.18 | 46.40% |
| 5401.KL | 5401.KL | 0.38% | $0.00 | 5.70% |
| 600255.SS | 600255.SS | 0.38% | $0.01 | 62.22% |
| 600460.SS | 600460.SS | 0.38% | $0.11 | 33.03% |
| 600507.SS | 600507.SS | 0.38% | $0.02 | 6.00% |
| 600684.SS | 600684.SS | 0.38% | $0.02 | 40.70% |
| 603171.SS | 603171.SS | 0.38% | $0.21 | 79.32% |
| 688309.SS | 688309.SS | 0.38% | $0.09 | 22.96% |
| 688315.SS | 688315.SS | 0.38% | $0.05 | 11.56% |
| 688578.SS | 688578.SS | 0.38% | $0.40 | 9.08% |
| 7191.T | 7191.T | 0.38% | $4.48 | 6.85% |
| IMPP | IMPP | 0.38% | $0.01 | 1.28% |
| VIH1.DE | VIH1.DE | 0.38% | $0.04 | 2.85% |
| 002040.SZ | 002040.SZ | 0.37% | $0.04 | 10.56% |
| 002497.SZ | 002497.SZ | 0.37% | $0.09 | 23.46% |
| 002553.SZ | 002553.SZ | 0.37% | $0.10 | 10.30% |
| 1258.HK | 1258.HK | 0.37% | $0.06 | 29.37% |
| 300403.SZ | 300403.SZ | 0.37% | $0.05 | 14.20% |
| 300425.SZ | 300425.SZ | 0.37% | $0.02 | 20.23% |
| 300445.SZ | 300445.SZ | 0.37% | $0.10 | 15.61% |
| 300549.SZ | 300549.SZ | 0.37% | $0.07 | 96.31% |
| 300785.SZ | 300785.SZ | 0.37% | $0.16 | 38.45% |
| 301608.SZ | 301608.SZ | 0.37% | $0.34 | 13.54% |
| 3563.T | 3563.T | 0.37% | $29.52 | 14.77% |
| 5211.KL | 5211.KL | 0.37% | $0.02 | 12.24% |
| 600420.SS | 600420.SS | 0.37% | $0.04 | 5.33% |
| 600671.SS | 600671.SS | 0.37% | $0.06 | 23.74% |
| 600764.SS | 600764.SS | 0.37% | $0.10 | 30.43% |
| 601766.SS | 601766.SS | 0.37% | $0.03 | 4.85% |
| 603002.SS | 603002.SS | 0.37% | $0.03 | 81.64% |
| 603009.SS | 603009.SS | 0.37% | $0.18 | 58.70% |
| 603363.SS | 603363.SS | 0.37% | $0.02 | 2.43% |
| 6545.T | 6545.T | 0.37% | $2.40 | 5.26% |
| 688028.SS | 688028.SS | 0.37% | $0.24 | 38.20% |
| 688285.SS | 688285.SS | 0.37% | $0.03 | 20.73% |