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
| Ticker | Company Name | Yield % | DPS | Payout % |
|---|---|---|---|---|
| 025860.KS | 025860.KS | 1.19% | $80.04 | 14.89% |
| 1811.HK | 1811.HK | 1.19% | $0.03 | 26.78% |
| 2834.TW | 2834.TW | 1.19% | $0.19 | 15.08% |
| 300228.SZ | 300228.SZ | 1.19% | $0.12 | 26.55% |
| 301603.SZ | 301603.SZ | 1.19% | $0.90 | 32.78% |
| CB | CB | 1.19% | $3.69 | 15.38% |
| CEU.TO | CEU.TO | 1.19% | $0.15 | 18.25% |
| DMR.BO | DMR.BO | 1.19% | $0.54 | 3.40% |
| NVGS | NVGS | 1.19% | $0.21 | 13.24% |
| 000811.SZ | 000811.SZ | 1.18% | $0.22 | 37.00% |
| 002394.SZ | 002394.SZ | 1.18% | $0.19 | 18.15% |
| 0N5I.L | 0N5I.L | 1.18% | $1.03 | 53.71% |
| 300446.SZ | 300446.SZ | 1.18% | $0.30 | 28.00% |
| 300685.SZ | 300685.SZ | 1.18% | $0.24 | 32.27% |
| 4733.T | 4733.T | 1.18% | $100.02 | 44.69% |
| 600839.SS | 600839.SS | 1.18% | $0.11 | 36.18% |
| 603708.SS | 603708.SS | 1.18% | $0.14 | 57.83% |
| IDUN-B.ST | IDUN-B.ST | 1.18% | $4.09 | 96.91% |
| 000821.SZ | 000821.SZ | 1.17% | $0.16 | 35.09% |
| 000938.SZ | 000938.SZ | 1.17% | $0.29 | 58.81% |
| 002454.SZ | 002454.SZ | 1.17% | $0.10 | 30.68% |
| 002675.SZ | 002675.SZ | 1.17% | $0.16 | 79.89% |
| 200670.KQ | 200670.KQ | 1.17% | $480.83 | 8.97% |
| 600380.SS | 600380.SS | 1.17% | $0.14 | 18.16% |
| 603687.SS | 603687.SS | 1.17% | $0.11 | 52.97% |
| 603868.SS | 603868.SS | 1.17% | $0.51 | 49.15% |
| 605020.SS | 605020.SS | 1.17% | $0.32 | 28.04% |
| 6895.TWO | 6895.TWO | 1.17% | $2.30 | 59.81% |
| 7583.TWO | 7583.TWO | 1.17% | $0.82 | 13.23% |
| ENGCON-B.ST | ENGCON-B.ST | 1.17% | $0.97 | 66.07% |
| KGX.DE | KGX.DE | 1.17% | $0.82 | 39.55% |
| KTMS.BK | KTMS.BK | 1.17% | $0.02 | 17.07% |
| ORI-R.BK | ORI-R.BK | 1.17% | $0.02 | 9.09% |
| TIH.TO | TIH.TO | 1.17% | $1.96 | 32.92% |
| 000407.SZ | 000407.SZ | 1.16% | $0.06 | 40.12% |
| 001318.SZ | 001318.SZ | 1.16% | $0.18 | 43.68% |
| 002696.SZ | 002696.SZ | 1.16% | $0.08 | 52.38% |
| 002825.SZ | 002825.SZ | 1.16% | $0.13 | 27.19% |
| 002947.SZ | 002947.SZ | 1.16% | $0.60 | 27.09% |
| 009450.KS | 009450.KS | 1.16% | $650.00 | 7.73% |
| 075580.KS | 075580.KS | 1.16% | $199.36 | 28.86% |
| 0R15.L | 0R15.L | 1.16% | $50.85 | 4.17% |
| 300127.SZ | 300127.SZ | 1.16% | $0.35 | 63.58% |
| 300259.SZ | 300259.SZ | 1.16% | $0.05 | 24.87% |
| 301131.SZ | 301131.SZ | 1.16% | $0.56 | 64.43% |
| 3692.HK | 3692.HK | 1.16% | $0.42 | 26.44% |
| 4373.T | 4373.T | 1.16% | $12.14 | 28.57% |
| 601899.SS | 601899.SS | 1.16% | $0.40 | 23.72% |
| 603101.SS | 603101.SS | 1.16% | $0.11 | 58.89% |
| 603530.SS | 603530.SS | 1.16% | $0.48 | 54.08% |