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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|---|---|---|---|---|
| 3706.TW | 3706.TW | 1.03% | $0.93 | 20.99% |
| 601231.SS | 601231.SS | 1.03% | $0.31 | 42.44% |
| 603029.SS | 603029.SS | 1.03% | $0.19 | 28.04% |
| 6719.TW | 6719.TW | 1.03% | $1.93 | 95.83% |
| 8869.KL | 8869.KL | 1.03% | $0.07 | 33.32% |
| B | B | 1.03% | $0.45 | 21.51% |
| ELHA.AT | ELHA.AT | 1.03% | $0.04 | 11.81% |
| 000548.SZ | 000548.SZ | 1.02% | $0.06 | 59.94% |
| 000969.SZ | 000969.SZ | 1.02% | $0.21 | 71.26% |
| 002730.SZ | 002730.SZ | 1.02% | $0.15 | 58.37% |
| 104830.KQ | 104830.KQ | 1.02% | $349.94 | 12.91% |
| 1439.TW | 1439.TW | 1.02% | $0.30 | 10.76% |
| 1523.HK | 1523.HK | 1.02% | $0.06 | 92.02% |
| 251270.KS | 251270.KS | 1.02% | $502.99 | 38.36% |
| 301606.SZ | 301606.SZ | 1.02% | $0.60 | 40.99% |
| 600523.SS | 600523.SS | 1.02% | $0.16 | 36.20% |
| 600986.SS | 600986.SS | 1.02% | $0.08 | 92.78% |
| 603004.SS | 603004.SS | 1.02% | $0.24 | 31.73% |
| 603041.SS | 603041.SS | 1.02% | $0.12 | 70.45% |
| 603239.SS | 603239.SS | 1.02% | $0.21 | 29.27% |
| 603301.SS | 603301.SS | 1.02% | $0.72 | 68.19% |
| 8476.HK | 8476.HK | 1.02% | $0.04 | 26.91% |
| 9168.T | 9168.T | 1.02% | $8.69 | 14.15% |
| 9570.SR | 9570.SR | 1.02% | $0.92 | 7.62% |
| GTX | GTX | 1.02% | $0.18 | 11.04% |
| NAVNETEDUL.BO | NAVNETEDUL.BO | 1.02% | $1.51 | 15.58% |
| 002294.SZ | 002294.SZ | 1.01% | $0.50 | 82.89% |
| 002423.SZ | 002423.SZ | 1.01% | $0.12 | 28.45% |
| 002965.SZ | 002965.SZ | 1.01% | $0.41 | 43.96% |
| 086900.KQ | 086900.KQ | 1.01% | $1,238.71 | 36.92% |
| 300771.SZ | 300771.SZ | 1.01% | $0.16 | 49.28% |
| 7733.T | 7733.T | 1.01% | $19.96 | 20.09% |
| ALPOU.PA | ALPOU.PA | 1.01% | $0.06 | 3.34% |
| ELG.DE | ELG.DE | 1.01% | $1.00 | 13.84% |
| IIA.VI | IIA.VI | 1.01% | $0.17 | 17.54% |
| 000922.SZ | 000922.SZ | 1.00% | $0.14 | 38.72% |
| 002611.SZ | 002611.SZ | 1.00% | $0.19 | 33.91% |
| 003001.SZ | 003001.SZ | 1.00% | $0.20 | 71.99% |
| 064760.KQ | 064760.KQ | 1.00% | $1,458.99 | 23.09% |
| 0ROY.L | 0ROY.L | 1.00% | $0.12 | 29.93% |
| 1696.HK | 1696.HK | 1.00% | $0.04 | 45.32% |
| 300662.SZ | 300662.SZ | 1.00% | $0.25 | 17.33% |
| 603950.SS | 603950.SS | 1.00% | $0.29 | 26.83% |
| 688087.SS | 688087.SS | 1.00% | $0.31 | 16.87% |
| 9546.SR | 9546.SR | 1.00% | $0.50 | 8.66% |
| BELL.JK | BELL.JK | 1.00% | $0.69 | 81.83% |
| EPEN.ST | EPEN.ST | 1.00% | $1.12 | 26.30% |
| IATR.AT | IATR.AT | 1.00% | $0.02 | 58.56% |
| 002801.SZ | 002801.SZ | 0.99% | $0.35 | 28.52% |
| 003090.KS | 003090.KS | 0.99% | $211.12 | 10.55% |