Definitive Analysis
| Stable Growth | $65,590.43 - $160,490.57 | $150,403.16 |
| Multi-Stage | $23,588.44 - $25,805.68 | $24,676.74 |
| Blended Fair Value | $87,539.95 | |
| Current Price | $5,775.00 | |
| Upside | 1,415.84% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 19.71% | 9.16% | 518.68 | 649.57 | 281.82 | 131.91 | 183.90 | 211.00 | 189.88 | 167.92 | 167.89 | 215.86 |
| YoY Growth | - | - | -20.15% | 130.49% | 113.65% | -28.27% | -12.84% | 11.12% | 13.08% | 0.01% | -22.22% | 0.00% |
| Dividend Yield | - | - | 10.54% | 12.49% | 4.70% | 2.01% | 3.49% | 5.41% | 2.61% | 2.30% | 1.95% | 2.98% |
| Net Income To Common (M) | 32,670,000.00 |
| (-) Cash Dividends Paid (M) | 16,426,000.00 |
| (=) Cash Retained (M) | 16,244,000.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 6,534,000.00 | 4,083,750.00 | 2,450,250.00 |
| Cash Retained (M) | 16,244,000.00 | 16,244,000.00 | 16,244,000.00 |
| (-) Cash Required (M) | -6,534,000.00 | -4,083,750.00 | -2,450,250.00 |
| (=) Excess Retained (M) | 9,710,000.00 | 12,160,250.00 | 13,793,750.00 |
| (/) Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| (=) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| LTM Dividend per Share | 405.74 | 405.74 | 405.74 |
| (+) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| (=) Adjusted Dividend | 645.59 | 706.12 | 746.47 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $65,590.43 | $150,403.16 | $160,490.57 |
| Upside / Downside | 1,035.77% | 2,504.38% | 2,679.06% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 32,670,000.00 | 34,793,550.00 | 37,055,130.75 | 39,463,714.25 | 42,028,855.67 | 44,760,731.29 | 46,103,553.23 |
| Payout Ratio | 50.28% | 58.22% | 66.17% | 74.11% | 82.06% | 90.00% | 92.50% |
| Projected Dividends (M) | 16,426,000.00 | 20,257,791.00 | 24,518,314.98 | 29,247,117.91 | 34,487,075.34 | 40,284,658.16 | 42,645,786.74 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 18,836,000.94 | 19,014,541.23 | 19,193,081.52 |
| Year 2 PV (M) | 21,197,461.46 | 21,601,213.56 | 22,008,774.65 |
| Year 3 PV (M) | 23,511,098.86 | 24,186,018.01 | 24,873,731.46 |
| Year 4 PV (M) | 25,777,621.03 | 26,768,955.58 | 27,788,611.88 |
| Year 5 PV (M) | 27,997,726.63 | 29,350,027.29 | 30,754,083.69 |
| PV of Terminal Value (M) | 837,626,387.30 | 878,084,055.01 | 920,090,132.89 |
| Equity Value (M) | 954,946,296.21 | 999,004,810.69 | 1,044,708,416.09 |
| Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| Fair Value | $23,588.44 | $24,676.74 | $25,805.68 |
| Upside / Downside | 308.46% | 327.30% | 346.85% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| ATOM3.SA | Atom Empreendimentos e Participações S.A. | 19.90% | $0.58 | 71.92% |
| 3698.HK | Huishang Bank Corporation Limited | 19.56% | $0.64 | 28.80% |
| SVAV.ME | Sollers Public Joint Stock Company | 19.34% | $110.64 | 40.44% |
| 0536.HK | Tradelink Electronic Commerce Limited | 19.33% | $0.20 | 86.09% |
| 3658.HK | New Hope Service Holdings Limited | 19.28% | $0.37 | 66.51% |
| 0123.HK | Yuexiu Property Company Limited | 19.19% | $0.77 | 90.88% |
| 0N7I.L | Cairo Communication S.p.A. | 19.19% | $0.36 | 54.94% |
| 1798.HK | China Datang Corporation Renewable Power Co., Limited | 19.01% | $0.40 | 63.00% |
| LBS.TO | Life & Banc Split Corp. | 19.00% | $2.25 | 40.31% |
| HMSB.DE | H & M Hennes & Mauritz AB (publ) | 18.98% | $3.26 | 47.98% |
| 0608.HK | High Fashion International Limited | 18.79% | $0.31 | 50.08% |
| 0U8N.L | Credicorp Ltd. | 18.72% | $53.82 | 66.14% |
| CAAS | China Automotive Systems, Inc. | 18.61% | $0.80 | 72.30% |
| KRSB.ME | PJSC Krasnoyarskenergosbyt | 18.38% | $4.07 | 82.55% |
| 1127.HK | Lion Rock Group Limited | 18.37% | $0.25 | 47.23% |
| HAVAS.AS | Havas S.A. | 18.35% | $3.14 | 90.23% |
| 1480.HK | Yan Tat Group Holdings Limited | 18.33% | $0.22 | 49.33% |
| NA-PC.TO | National Bank of Canada | 18.32% | $4.93 | 48.59% |
| 1412.HK | Q P Group Holdings Limited | 18.24% | $0.29 | 73.74% |
| FVJ.F | Fortescue Metals Group Limited | 18.16% | $2.27 | 76.64% |
| YATO.MC | Atom Hoteles SOCIMI, S.A. | 18.06% | $2.85 | 68.99% |
| 0327.HK | PAX Global Technology Limited | 17.98% | $0.92 | 61.66% |
| 1MO.F | Hello Group Inc. | 17.92% | $1.04 | 40.52% |
| PIN.BK | Pinthong Industrial Park Public Company Limited | 17.92% | $0.76 | 80.79% |
| 1883.HK | CITIC Telecom International Holdings Limited | 17.86% | $0.44 | 87.51% |
| 6896.HK | Golden Throat Holdings Group Company Limited | 17.79% | $0.55 | 76.14% |
| VOT.WA | Votum S.A. | 17.65% | $8.15 | 59.83% |
| ALTUR.PA | Altur Investissement SCA, SCR | 17.58% | $1.93 | 37.11% |
| O7F1.F | Odfjell SE | 17.55% | $1.78 | 73.02% |
| 2219.HK | Chaoju Eye Care Holdings Limited | 17.38% | $0.47 | 84.16% |
| 001390.KS | KG Chemical Corporation | 17.24% | $884.51 | 97.69% |
| 2360.HK | Best Mart 360 Holdings Limited | 17.23% | $0.35 | 82.20% |
| ALSAS.PA | Stradim Espace Finances S.A. | 17.16% | $0.80 | 55.65% |
| 9615.SR | Mufeed Company | 17.11% | $5.39 | 35.54% |
| LPPF.JK | PT Matahari Department Store Tbk | 17.09% | $300.00 | 82.85% |
| 0LNT.L | Fugro N.V. | 17.06% | $1.52 | 39.50% |
| 0458.HK | Tristate Holdings Limited | 17.02% | $0.31 | 33.15% |
| 2283.HK | TK Group (Holdings) Limited | 16.99% | $0.43 | 72.10% |
| 1263.HK | PC Partner Group Limited | 16.85% | $0.90 | 63.10% |
| 2603.TW | Evergreen Marine Corporation (Taiwan) Ltd. | 16.83% | $32.49 | 77.53% |
| ALHRG.PA | Herige | 16.78% | $3.66 | 97.55% |
| TD-PFJ.TO | The Toronto-Dominion Bank NCUM 5Y PFD SR18 | 16.67% | $4.38 | 36.07% |
| S7MB.BE | Securitas AB (publ) | 16.59% | $2.25 | 23.09% |
| 1184.HK | S.A.S. Dragon Holdings Limited | 16.56% | $0.75 | 52.32% |
| PBR-A | Petróleo Brasileiro S.A. - Petrobras | 16.54% | $1.87 | 86.52% |
| VRLA.PA | Verallia S.A. | 16.47% | $3.83 | 97.79% |
| 6668.HK | E-Star Commercial Management Company Limited | 16.42% | $0.23 | 72.71% |
| 0098.HK | Xingfa Aluminium Holdings Limited | 16.13% | $1.17 | 29.94% |
| ING.AX | Inghams Group Limited | 16.09% | $0.41 | 79.67% |
| 1234.HK | China Lilang Limited | 16.04% | $0.54 | 66.61% |