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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| 600082.SS | 600082.SS | 1.68% | $0.07 | 72.77% |
| 603815.SS | 603815.SS | 1.68% | $0.12 | 45.85% |
| 7280.T | 7280.T | 1.68% | $17.57 | 8.76% |
| 8985.T | 8985.T | 1.68% | $1,370.97 | 17.79% |
| 002836.SZ | 002836.SZ | 1.67% | $0.25 | 97.86% |
| 2419.HK | 2419.HK | 1.67% | $1.16 | 7.76% |
| 5357.T | 5357.T | 1.67% | $30.31 | 25.15% |
| 600312.SS | 600312.SS | 1.67% | $0.29 | 34.28% |
| 600933.SS | 600933.SS | 1.67% | $0.34 | 31.46% |
| 603259.SS | 603259.SS | 1.67% | $1.52 | 31.50% |
| 688580.SS | 688580.SS | 1.67% | $0.81 | 61.33% |
| 8359.T | 8359.T | 1.67% | $28.27 | 22.23% |
| 9597.SR | 9597.SR | 1.67% | $0.56 | 25.93% |
| BBMD.JK | BBMD.JK | 1.67% | $34.25 | 40.25% |
| ELN.MI | ELN.MI | 1.67% | $0.23 | 25.56% |
| HARB-B.CO | HARB-B.CO | 1.67% | $2.00 | 18.85% |
| HARVIA.HE | HARVIA.HE | 1.67% | $0.72 | 56.92% |
| NORBT.OL | NORBT.OL | 1.67% | $2.99 | 50.40% |
| 002240.KS | 002240.KS | 1.66% | $350.65 | 18.13% |
| 011780.KS | 011780.KS | 1.66% | $1,950.82 | 19.35% |
| 0QI7.L | 0QI7.L | 1.66% | $3.20 | 43.14% |
| 1346.HK | 1346.HK | 1.66% | $0.02 | 47.86% |
| 1789.HK | 1789.HK | 1.66% | $0.10 | 22.23% |
| 273640.KQ | 273640.KQ | 1.66% | $139.56 | 29.02% |
| 300039.SZ | 300039.SZ | 1.66% | $0.10 | 30.28% |
| 603231.SS | 603231.SS | 1.66% | $0.30 | 32.96% |
| 688575.SS | 688575.SS | 1.66% | $0.24 | 93.71% |
| AKBNK.IS | AKBNK.IS | 1.66% | $1.22 | 13.20% |
| TFII | TFII | 1.66% | $1.77 | 45.37% |
| 002124.SZ | 002124.SZ | 1.65% | $0.05 | 26.60% |
| 002978.SZ | 002978.SZ | 1.65% | $0.54 | 31.99% |
| 009470.KS | 009470.KS | 1.65% | $500.14 | 26.53% |
| 009900.KS | 009900.KS | 1.65% | $149.45 | 9.10% |
| 0743.HK | 0743.HK | 1.65% | $0.04 | 25.13% |
| 0HDQ.L | 0HDQ.L | 1.65% | $0.50 | 9.05% |
| 1308.HK | 1308.HK | 1.65% | $0.46 | 66.51% |
| 2273.HK | 2273.HK | 1.65% | $0.48 | 19.04% |
| 300750.SZ | 300750.SZ | 1.65% | $6.07 | 43.20% |
| 300856.SZ | 300856.SZ | 1.65% | $0.22 | 83.60% |
| 300932.SZ | 300932.SZ | 1.65% | $0.20 | 84.47% |
| 323410.KS | 323410.KS | 1.65% | $360.28 | 37.33% |
| 5101.T | 5101.T | 1.65% | $99.28 | 24.61% |
| 601228.SS | 601228.SS | 1.65% | $0.05 | 45.08% |
| 603193.SS | 603193.SS | 1.65% | $0.40 | 52.98% |
| 603312.SS | 603312.SS | 1.65% | $0.77 | 41.51% |
| 9542.SR | 9542.SR | 1.65% | $0.07 | 23.35% |
| CEVI.ST | CEVI.ST | 1.65% | $2.50 | 39.38% |
| SII | SII | 1.65% | $1.67 | 61.40% |
| ZUE.WA | ZUE.WA | 1.65% | $0.21 | 51.75% |
| 2758.TWO | 2758.TWO | 1.64% | $1.50 | 47.97% |