Definitive Analysis
| Stable Growth | $209,951.50 - $844,097.38 | $560,051.66 |
| Multi-Stage | $103,700.38 - $113,362.63 | $108,443.38 |
| Blended Fair Value | $334,247.52 | |
| Current Price | $26,775.00 | |
| Upside | 1,148.36% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.99% | 15.07% | 2,235.27 | 6,883.97 | 1,752.66 | 829.66 | 1,002.11 | 1,269.08 | 1,002.11 | 693.06 | 598.60 | 817.30 |
| YoY Growth | - | - | -67.53% | 292.77% | 111.25% | -17.21% | -21.04% | 26.64% | 44.59% | 15.78% | -26.76% | 48.78% |
| Dividend Yield | - | - | 9.49% | 28.65% | 6.02% | 3.25% | 4.53% | 7.51% | 3.68% | 2.17% | 2.26% | 5.34% |
| Net Income To Common (M) | 15,414,710.00 |
| (-) Cash Dividends Paid (M) | 7,808,837.00 |
| (=) Cash Retained (M) | 7,605,873.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,082,942.00 | 1,926,838.75 | 1,156,103.25 |
| Cash Retained (M) | 7,605,873.00 | 7,605,873.00 | 7,605,873.00 |
| (-) Cash Required (M) | -3,082,942.00 | -1,926,838.75 | -1,156,103.25 |
| (=) Excess Retained (M) | 4,522,931.00 | 5,679,034.25 | 6,449,769.75 |
| (/) Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| (=) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| LTM Dividend per Share | 2,150.12 | 2,150.12 | 2,150.12 |
| (+) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| (=) Adjusted Dividend | 3,395.49 | 3,713.82 | 3,926.03 |
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $209,951.50 | $560,051.66 | $844,097.38 |
| Upside / Downside | 684.13% | 1,991.70% | 3,052.56% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 15,414,710.00 | 16,416,666.15 | 17,483,749.45 | 18,620,193.16 | 19,830,505.72 | 21,119,488.59 | 21,753,073.25 |
| Payout Ratio | 50.66% | 58.53% | 66.40% | 74.26% | 82.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 7,808,837.00 | 9,608,129.03 | 11,608,336.69 | 13,827,977.00 | 16,287,125.33 | 19,007,539.73 | 20,121,592.76 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,878,133.73 | 8,962,286.66 | 9,046,439.58 |
| Year 2 PV (M) | 9,911,416.07 | 10,100,200.70 | 10,290,766.33 |
| Year 3 PV (M) | 10,909,559.51 | 11,222,733.76 | 11,541,844.79 |
| Year 4 PV (M) | 11,873,420.85 | 12,330,039.10 | 12,799,702.62 |
| Year 5 PV (M) | 12,803,838.45 | 13,422,268.64 | 14,064,367.60 |
| PV of Terminal Value (M) | 322,243,619.99 | 337,808,107.33 | 353,968,284.24 |
| Equity Value (M) | 376,619,988.60 | 393,845,636.20 | 411,711,405.16 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $103,700.38 | $108,443.38 | $113,362.63 |
| Upside / Downside | 287.30% | 305.02% | 323.39% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| BNGA.JK | PT Bank CIMB Niaga Tbk | 8.91% | $157.72 | 56.96% |
| QIGD.QA | Qatari Investors Group Q.S.C. | 8.91% | $0.13 | 97.17% |
| MCS-R.BK | M.C.S. Steel Public Company Limited | 8.90% | $0.74 | 34.29% |
| 0QR1.L | Schweiter Technologies AG | 8.89% | $22.40 | 90.72% |
| 0816.HK | Jinmao Property Services Co., Limited | 8.88% | $0.23 | 55.27% |
| 3492.T | MIRARTH Real Estate Investment Corporation | 8.88% | $8,301.09 | 88.12% |
| 3998.HK | Bosideng International Holdings Limited | 8.86% | $0.40 | 70.17% |
| PJP.WA | PJP Makrum S.A. | 8.86% | $1.42 | 65.03% |
| 603565.SS | Shanghai Zhonggu Logistics Co., Ltd. | 8.84% | $0.89 | 87.23% |
| ALVAP.PA | Kumulus Vape S.A. | 8.83% | $0.37 | 24.09% |
| IPS.PA | Ipsos S.A. | 8.83% | $2.99 | 38.93% |
| RFF.AX | Rural Funds Group | 8.83% | $0.17 | 15.19% |
| KOV.AX | Korvest Ltd | 8.81% | $1.24 | 60.47% |
| 0QUS.L | G5 Entertainment AB (publ) | 8.80% | $8.05 | 94.74% |
| 9620.SR | Balsm Alofoq Medical Co. | 8.80% | $2.40 | 63.98% |
| PPM.AX | Pepper Money Limited | 8.80% | $0.20 | 44.77% |
| VK.PA | Vallourec S.A. | 8.80% | $1.41 | 83.22% |
| BBNI.JK | PT Bank Negara Indonesia (Persero) Tbk | 8.79% | $374.46 | 66.86% |
| KJL.BK | Kijcharoen Engineering Electric Public Company Limited | 8.79% | $0.54 | 73.06% |
| 0856.HK | VSTECS Holdings Limited | 8.78% | $0.71 | 47.24% |
| BA-R.BK | Bangkok Airways Public Company Limited | 8.78% | $1.30 | 83.23% |
| PFRM3.SA | Profarma Distribuidora de Produtos Farmacêuticos S.A. | 8.78% | $0.74 | 78.88% |
| 0001.HK | CK Hutchison Holdings Limited | 8.77% | $4.73 | 59.96% |
| NOBLE-R.BK | Noble Development Public Company Limited | 8.75% | $0.19 | 27.34% |
| RANA.OL | Rana Gruber ASA | 8.75% | $6.75 | 83.80% |
| PDG.BK | Prodigy Public Company Limited | 8.74% | $0.26 | 90.35% |
| WHC.AX | Whitehaven Coal Limited | 8.74% | $0.68 | 56.57% |
| DLTA.JK | PT Delta Djakarta Tbk | 8.73% | $175.42 | 99.09% |
| 8371.HK | Taste Gourmet Group Limited | 8.70% | $0.18 | 53.44% |
| TRAN.BA | Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A. | 8.70% | $301.79 | 91.83% |
| 0257.HK | China Everbright Environment Group Limited | 8.69% | $0.42 | 35.73% |
| EMB.AX | Embelton Limited | 8.69% | $0.70 | 69.10% |
| HP3A.DE | Ringmetall SE | 8.69% | $0.24 | 38.33% |
| RDTX.JK | PT Roda Vivatex Tbk | 8.69% | $1,103.93 | 95.63% |
| S56.SI | Samudera Shipping Line Ltd | 8.69% | $0.10 | 60.61% |
| 1307.TW | San Fang Chemical Industry Co., Ltd. | 8.68% | $2.70 | 91.10% |
| ASIZ.L | Aberforth Split Level Income ZDP 2024 | 8.68% | $11.04 | 47.29% |
| PIC.AX | Perpetual Equity Investment Company Limited | 8.68% | $0.11 | 97.90% |
| CPHN.SW | CPH Chemie + Papier Holding AG | 8.66% | $5.99 | 89.84% |
| JIN.AX | Jumbo Interactive Limited | 8.66% | $0.99 | 74.11% |
| PM-R.BK | Premier Marketing Public Company Limited | 8.66% | $1.03 | 90.60% |
| 0546.HK | Fufeng Group Limited | 8.65% | $0.70 | 30.72% |
| ITB.DE | Imperial Brands PLC | 8.65% | $3.09 | 55.77% |
| LOGG3.SA | LOG Commercial Properties e Participações S.A. | 8.64% | $2.19 | 49.79% |
| 5547.TWO | Jioushun Construction Co., Ltd. | 8.63% | $2.26 | 58.13% |
| TWD.AX | Tamawood Limited | 8.62% | $0.24 | 80.43% |
| UNITED.HE | United Bankers Oyj | 8.60% | $1.61 | 53.91% |
| DDR.AX | Dicker Data Limited | 8.58% | $0.87 | 96.73% |
| PATO.BK | Pato Chemical Industry Public Company Limited | 8.58% | $0.60 | 98.05% |
| 0371.HK | Beijing Enterprises Water Group Limited | 8.56% | $0.21 | 64.00% |