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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|---|---|---|---|---|
| 6101.T | 6101.T | 2.08% | $59.70 | 21.18% |
| 9549.SR | 9549.SR | 2.08% | $0.50 | 29.71% |
| FPAR-A.ST | FPAR-A.ST | 2.08% | $0.97 | 55.03% |
| GRNG.ST | GRNG.ST | 2.08% | $3.09 | 34.78% |
| ZGN | ZGN | 2.08% | $0.22 | 28.26% |
| 000983.SZ | 000983.SZ | 2.07% | $0.13 | 44.44% |
| 006090.KS | 006090.KS | 2.07% | $187.55 | 43.67% |
| 0O1O.L | 0O1O.L | 2.07% | $1.74 | 19.10% |
| 1748.HK | 1748.HK | 2.07% | $0.04 | 62.70% |
| 4677.KL | 4677.KL | 2.07% | $0.04 | 26.42% |
| 603136.SS | 603136.SS | 2.07% | $0.24 | 64.23% |
| 7965.T | 7965.T | 2.07% | $32.35 | 36.35% |
| MRSA3B.SA | MRSA3B.SA | 2.07% | $0.81 | 18.86% |
| OCL.AX | OCL.AX | 2.07% | $0.34 | 57.76% |
| TRTN | TRTN | 2.07% | $1.65 | 28.50% |
| 001219.SZ | 001219.SZ | 2.06% | $0.29 | 55.25% |
| 002351.SZ | 002351.SZ | 2.06% | $0.25 | 53.80% |
| 004830.KS | 004830.KS | 2.06% | $100.30 | 19.66% |
| 600120.SS | 600120.SS | 2.06% | $0.13 | 32.28% |
| 600143.SS | 600143.SS | 2.06% | $0.40 | 85.82% |
| 7735.T | 7735.T | 2.06% | $314.43 | 32.13% |
| ALSO3.SA | ALSO3.SA | 2.06% | $0.52 | 9.27% |
| MLIA.JK | MLIA.JK | 2.06% | $6.98 | 27.72% |
| REA.AX | REA.AX | 2.06% | $3.81 | 51.46% |
| THEON.AS | THEON.AS | 2.06% | $0.55 | 52.53% |
| 000902.SZ | 000902.SZ | 2.05% | $0.32 | 26.06% |
| 002938.SZ | 002938.SZ | 2.05% | $1.04 | 59.37% |
| 036930.KQ | 036930.KQ | 2.05% | $625.50 | 45.79% |
| 086280.KS | 086280.KS | 2.05% | $3,700.10 | 19.97% |
| 2730.T | 2730.T | 2.05% | $43.41 | 30.64% |
| 4191.SR | 4191.SR | 2.05% | $1.01 | 76.56% |
| 9527.SR | 9527.SR | 2.05% | $2.00 | 27.73% |
| BMIN3.SA | BMIN3.SA | 2.05% | $0.47 | 28.32% |
| GUAR3.SA | GUAR3.SA | 2.05% | $0.18 | 20.09% |
| MGROS.IS | MGROS.IS | 2.05% | $10.88 | 31.41% |
| MLL.DE | MLL.DE | 2.05% | $0.10 | 6.76% |
| RAY-A.TO | RAY-A.TO | 2.05% | $0.30 | 39.32% |
| VIVA3.SA | VIVA3.SA | 2.05% | $0.66 | 20.93% |
| 268280.KS | 268280.KS | 2.04% | $2,814.57 | 22.79% |
| 2869.HK | 2869.HK | 2.04% | $0.09 | 17.96% |
| 450330.KQ | 450330.KQ | 2.04% | $131.79 | 35.27% |
| 605589.SS | 605589.SS | 2.04% | $0.58 | 44.86% |
| CEK.DE | CEK.DE | 2.04% | $0.26 | 34.71% |
| CSAP.JK | CSAP.JK | 2.04% | $6.50 | 30.53% |
| ROTH.PA | ROTH.PA | 2.04% | $0.78 | 13.71% |
| 2476.TW | 2476.TW | 2.03% | $1.85 | 49.48% |
| 2852.KL | 2852.KL | 2.03% | $0.03 | 28.80% |
| 3788.HK | 3788.HK | 2.03% | $0.08 | 36.16% |
| 4004.SR | 4004.SR | 2.03% | $2.54 | 49.37% |
| 601607.SS | 601607.SS | 2.03% | $0.36 | 23.77% |