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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|---|---|---|---|---|
| AKVA.OL | AKVA.OL | 1.13% | $1.00 | 21.19% |
| CP | CP | 1.13% | $0.84 | 18.03% |
| 000698.SZ | 000698.SZ | 1.12% | $0.04 | 31.22% |
| 000887.SZ | 000887.SZ | 1.12% | $0.26 | 22.74% |
| 002019.SZ | 002019.SZ | 1.12% | $0.13 | 39.99% |
| 002489.SZ | 002489.SZ | 1.12% | $0.04 | 14.30% |
| 002545.SZ | 002545.SZ | 1.12% | $0.21 | 27.84% |
| 002876.SZ | 002876.SZ | 1.12% | $0.27 | 96.20% |
| 1133.HK | 1133.HK | 1.12% | $0.20 | 13.64% |
| 2081.SR | 2081.SR | 1.12% | $1.50 | 20.25% |
| 300014.SZ | 300014.SZ | 1.12% | $0.74 | 43.77% |
| 600452.SS | 600452.SS | 1.12% | $0.11 | 41.35% |
| 600498.SS | 600498.SS | 1.12% | $0.36 | 51.86% |
| 603290.SS | 603290.SS | 1.12% | $1.08 | 55.22% |
| 603379.SS | 603379.SS | 1.12% | $0.68 | 23.00% |
| 688077.SS | 688077.SS | 1.12% | $0.34 | 80.86% |
| 688113.SS | 688113.SS | 1.12% | $0.44 | 27.68% |
| 9697.T | 9697.T | 1.12% | $40.80 | 30.63% |
| JL | JL | 1.12% | $0.07 | 10.02% |
| MREI.JK | MREI.JK | 1.12% | $13.56 | 7.63% |
| RRRP3.SA | RRRP3.SA | 1.12% | $0.20 | 5.90% |
| RSGK.JK | RSGK.JK | 1.12% | $11.00 | 30.42% |
| TKBP.SW | TKBP.SW | 1.12% | $1.82 | 11.49% |
| 001203.SZ | 001203.SZ | 1.11% | $0.34 | 73.27% |
| 002928.SZ | 002928.SZ | 1.11% | $0.12 | 26.84% |
| 002971.SZ | 002971.SZ | 1.11% | $0.33 | 96.40% |
| 052690.KS | 052690.KS | 1.11% | $998.72 | 36.59% |
| 0QJY.L | 0QJY.L | 1.11% | $5.52 | 22.35% |
| 0ROQ.L | 0ROQ.L | 1.11% | $2.50 | 34.42% |
| 0Y4Q.L | 0Y4Q.L | 1.11% | $3.58 | 16.92% |
| 600817.SS | 600817.SS | 1.11% | $0.13 | 23.44% |
| 601127.SS | 601127.SS | 1.11% | $1.35 | 30.47% |
| 603228.SS | 603228.SS | 1.11% | $0.81 | 62.37% |
| 6742.KL | 6742.KL | 1.11% | $0.04 | 13.90% |
| 6920.T | 6920.T | 1.11% | $328.97 | 31.31% |
| FERG | FERG | 1.11% | $2.49 | 25.04% |
| FRAS3.SA | FRAS3.SA | 1.11% | $0.27 | 20.45% |
| WTN.AX | WTN.AX | 1.11% | $0.03 | 2.57% |
| 002559.SZ | 002559.SZ | 1.10% | $0.11 | 80.31% |
| 002891.SZ | 002891.SZ | 1.10% | $0.57 | 40.72% |
| 002901.SZ | 002901.SZ | 1.10% | $0.52 | 39.26% |
| 002922.SZ | 002922.SZ | 1.10% | $0.34 | 52.70% |
| 012610.KS | 012610.KS | 1.10% | $54.94 | 29.75% |
| 300735.SZ | 300735.SZ | 1.10% | $0.27 | 64.53% |
| 301135.SZ | 301135.SZ | 1.10% | $0.31 | 76.35% |
| 5272.KL | 5272.KL | 1.10% | $0.02 | 33.57% |
| 600597.SS | 600597.SS | 1.10% | $0.09 | 17.78% |
| 6445.T | 6445.T | 1.10% | $12.76 | 26.30% |
| 688230.SS | 688230.SS | 1.10% | $0.80 | 91.66% |
| 688551.SS | 688551.SS | 1.10% | $0.41 | 68.90% |