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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|---|---|---|---|---|
| 0258.HK | 0258.HK | 1.44% | $0.03 | 7.69% |
| 055490.KS | 055490.KS | 1.44% | $199.78 | 51.52% |
| 2756.TWO | 2756.TWO | 1.44% | $1.18 | 40.55% |
| 300130.SZ | 300130.SZ | 1.44% | $0.40 | 65.84% |
| 300194.SZ | 300194.SZ | 1.44% | $0.06 | 52.37% |
| 301058.SZ | 301058.SZ | 1.44% | $0.16 | 34.15% |
| 3393.HK | 3393.HK | 1.44% | $0.26 | 17.68% |
| 5536.TWO | 5536.TWO | 1.44% | $10.99 | 47.44% |
| 600809.SS | 600809.SS | 1.44% | $2.47 | 24.55% |
| 6485.T | 6485.T | 1.44% | $22.77 | 15.91% |
| 6506.T | 6506.T | 1.44% | $68.32 | 30.92% |
| 688092.SS | 688092.SS | 1.44% | $0.36 | 55.35% |
| ISS.CO | ISS.CO | 1.44% | $3.10 | 19.54% |
| 003027.SZ | 003027.SZ | 1.43% | $0.32 | 50.08% |
| 0W19.L | 0W19.L | 1.43% | $1.00 | 34.00% |
| 0YG7.L | 0YG7.L | 1.43% | $4.12 | 46.18% |
| 2427.T | 2427.T | 1.43% | $24.98 | 56.59% |
| 300409.SZ | 300409.SZ | 1.43% | $0.32 | 58.17% |
| 600362.SS | 600362.SS | 1.43% | $0.79 | 33.95% |
| 600409.SS | 600409.SS | 1.43% | $0.09 | 81.03% |
| 601858.SS | 601858.SS | 1.43% | $0.26 | 39.12% |
| 603283.SS | 603283.SS | 1.43% | $0.62 | 25.98% |
| 603757.SS | 603757.SS | 1.43% | $0.63 | 58.53% |
| 6479.T | 6479.T | 1.43% | $45.06 | 29.19% |
| 7012.T | 7012.T | 1.43% | $148.51 | 32.29% |
| 9630.SR | 9630.SR | 1.43% | $0.10 | 14.11% |
| G | G | 1.43% | $0.66 | 20.93% |
| GIL | GIL | 1.43% | $0.90 | 28.59% |
| MRU.TO | MRU.TO | 1.43% | $1.42 | 30.52% |
| SIMINN.IC | SIMINN.IC | 1.43% | $0.21 | 33.47% |
| 002568.SZ | 002568.SZ | 1.42% | $0.31 | 46.41% |
| 2270.HK | 2270.HK | 1.42% | $0.06 | 41.57% |
| 300294.SZ | 300294.SZ | 1.42% | $0.32 | 49.45% |
| 300433.SZ | 300433.SZ | 1.42% | $0.43 | 54.16% |
| 300906.SZ | 300906.SZ | 1.42% | $0.50 | 58.74% |
| 301588.SZ | 301588.SZ | 1.42% | $0.26 | 67.53% |
| 4684.T | 4684.T | 1.42% | $70.00 | 44.07% |
| 600023.SS | 600023.SS | 1.42% | $0.07 | 12.91% |
| 600268.SS | 600268.SS | 1.42% | $0.15 | 33.78% |
| 605089.SS | 605089.SS | 1.42% | $0.36 | 67.75% |
| 688677.SS | 688677.SS | 1.42% | $0.61 | 52.58% |
| 7456.T | 7456.T | 1.42% | $75.07 | 17.79% |
| DNR.MI | DNR.MI | 1.42% | $0.10 | 22.74% |
| 000039.SZ | 000039.SZ | 1.41% | $0.14 | 31.30% |
| 000778.SZ | 000778.SZ | 1.41% | $0.06 | 60.76% |
| 002434.SZ | 002434.SZ | 1.41% | $0.13 | 54.38% |
| 0354.HK | 0354.HK | 1.41% | $0.07 | 16.05% |
| 300298.SZ | 300298.SZ | 1.41% | $0.24 | 47.22% |
| 600063.SS | 600063.SS | 1.41% | $0.08 | 31.80% |
| 603058.SS | 603058.SS | 1.41% | $0.13 | 42.37% |