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 |
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| 600637.SS | 600637.SS | 0.09% | $0.01 | 6.37% |
| 600651.SS | 600651.SS | 0.09% | $0.01 | 33.20% |
| 600730.SS | 600730.SS | 0.09% | $0.01 | 68.94% |
| 601698.SS | 601698.SS | 0.09% | $0.03 | 53.56% |
| 605296.SS | 605296.SS | 0.09% | $0.03 | 2.03% |
| 688171.SS | 688171.SS | 0.09% | $0.04 | 31.47% |
| ARTA.JK | ARTA.JK | 0.09% | $3.00 | 28.33% |
| ATRL.TO | ATRL.TO | 0.09% | $0.08 | 0.53% |
| BYG.L | BYG.L | 0.09% | $0.91 | 44.98% |
| CEMEXCPO.MX | CEMEXCPO.MX | 0.09% | $0.02 | 19.65% |
| CEPU.BA | CEPU.BA | 0.09% | $2.51 | 1.34% |
| CSB.JO | CSB.JO | 0.09% | $12.56 | 87.79% |
| FINAMEXO.MX | FINAMEXO.MX | 0.09% | $0.03 | 0.65% |
| GALD.SW | GALD.SW | 0.09% | $0.15 | 9.37% |
| GND.JO | GND.JO | 0.09% | $1.52 | 41.06% |
| HINT.L | HINT.L | 0.09% | $0.15 | 77.68% |
| HSP.L | HSP.L | 0.09% | $0.60 | 73.58% |
| KITW.L | KITW.L | 0.09% | $0.21 | 50.10% |
| LHIS.TA | LHIS.TA | 0.09% | $1.10 | 33.79% |
| LSL.L | LSL.L | 0.09% | $0.23 | 19.43% |
| MEGP.L | MEGP.L | 0.09% | $0.14 | 47.46% |
| MFX.L | MFX.L | 0.09% | $0.03 | 27.95% |
| MUT.L | MUT.L | 0.09% | $0.85 | 71.09% |
| N91.L | N91.L | 0.09% | $0.20 | 55.57% |
| NTC.JO | NTC.JO | 0.09% | $1.45 | 56.45% |
| PLRM.TA | PLRM.TA | 0.09% | $5.04 | 60.65% |
| POLR.L | POLR.L | 0.09% | $0.45 | 54.79% |
| SNCM.TA | SNCM.TA | 0.09% | $0.15 | 78.49% |
| THRL.L | THRL.L | 0.09% | $0.09 | 39.74% |
| TRIFOR.CO | TRIFOR.CO | 0.09% | $0.08 | 11.44% |
| WHL.JO | WHL.JO | 0.09% | $5.17 | 94.82% |
| WYN.L | WYN.L | 0.09% | $0.35 | 79.23% |
| 000633.SZ | 000633.SZ | 0.08% | $0.01 | 14.32% |
| 002012.SZ | 002012.SZ | 0.08% | $0.01 | 49.97% |
| 002710.KS | 002710.KS | 0.08% | $10.97 | 16.70% |
| 290650.KQ | 290650.KQ | 0.08% | $49.90 | 1.44% |
| 300148.SZ | 300148.SZ | 0.08% | $0.00 | 4.33% |
| 300222.SZ | 300222.SZ | 0.08% | $0.01 | 6.01% |
| 300407.SZ | 300407.SZ | 0.08% | $0.01 | 3.03% |
| 300553.SZ | 300553.SZ | 0.08% | $0.03 | 10.13% |
| 300809.SZ | 300809.SZ | 0.08% | $0.03 | 16.34% |
| 3081.TWO | 3081.TWO | 0.08% | $0.50 | 18.79% |
| 600313.SS | 600313.SS | 0.08% | $0.01 | 10.74% |
| 600833.SS | 600833.SS | 0.08% | $0.01 | 5.08% |
| 688002.SS | 688002.SS | 0.08% | $0.08 | 4.64% |
| 688037.SS | 688037.SS | 0.08% | $0.12 | 27.30% |
| 9930.HK | 9930.HK | 0.08% | $0.00 | 0.14% |
| BLSR.TA | BLSR.TA | 0.08% | $31.97 | 45.28% |
| BVT.JO | BVT.JO | 0.08% | $18.75 | 51.27% |
| CBOX.L | CBOX.L | 0.08% | $0.17 | 72.27% |