Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Taiwan Shin Kong Security Co., Ltd. (9925.TW)

Company Dividend Discount ModelIndustry: Security & Protection ServicesSector: Industrials

Valuation Snapshot

Stable Growth$26.46 - $42.69$33.77
Multi-Stage$52.21 - $57.30$54.71
Blended Fair Value$44.24
Current Price$40.85
Upside8.30%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.20%1.26%2.022.022.022.021.902.002.002.002.001.90
YoY Growth--0.00%0.00%0.00%6.32%-5.00%0.00%0.00%0.00%5.26%6.61%
Dividend Yield--4.88%4.90%4.95%5.05%4.97%5.88%5.26%5.19%5.03%4.78%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)952.63
(-) Cash Dividends Paid (M)775.46
(=) Cash Retained (M)177.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)190.53119.0871.45
Cash Retained (M)177.17177.17177.17
(-) Cash Required (M)-190.53-119.08-71.45
(=) Excess Retained (M)-13.3558.09105.73
(/) Shares Outstanding (M)384.54384.54384.54
(=) Excess Retained per Share-0.030.150.27
LTM Dividend per Share2.022.022.02
(+) Excess Retained per Share-0.030.150.27
(=) Adjusted Dividend1.982.172.29
WACC / Discount Rate6.78%6.78%6.78%
Growth Rate-0.66%0.34%1.34%
Fair Value$26.46$33.77$42.69
Upside / Downside-35.22%-17.33%4.49%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)952.63955.83959.04962.26965.49968.73997.79
Payout Ratio81.40%83.12%84.84%86.56%88.28%90.00%92.50%
Projected Dividends (M)775.46794.50813.66832.94852.34871.86922.96

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.78%6.78%6.78%
Growth Rate-0.66%0.34%1.34%
Year 1 PV (M)736.66744.08751.49
Year 2 PV (M)699.51713.66727.96
Year 3 PV (M)663.96684.21704.88
Year 4 PV (M)629.97655.72682.25
Year 5 PV (M)597.49628.17660.10
PV of Terminal Value (M)16,750.8117,611.1018,506.38
Equity Value (M)20,078.3921,036.9522,033.07
Shares Outstanding (M)384.54384.54384.54
Fair Value$52.21$54.71$57.30
Upside / Downside27.82%33.92%40.26%

High-Yield Dividend Screener

« Prev Page 10 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ESPEspey Mfg. & Electronics Corp.3.53%$1.6554.01%
F-PCFord Motor Company 6% Notes due3.53%$0.7463.45%
TECTPTectonic Financial, Inc.3.53%$0.3879.28%
AMFCXAmerican Funds American Mutual Fund3.52%$2.0690.87%
CRCCalifornia Resources Corporation3.52%$1.6435.94%
FAFFirst American Financial Corporation3.51%$2.1446.13%
GICGlobal Industrial Company3.51%$1.0358.36%
0R0G.LMondelez International, Inc.3.50%$1.8969.92%
DCPDCP Midstream, LP3.50%$1.4634.00%
LWLamb Weston Holdings, Inc.3.50%$1.4870.35%
WSOWatsco, Inc.3.50%$12.1683.88%
0QYY.LHarley-Davidson, Inc.3.49%$0.7217.57%
LKFNLakeland Financial Corporation3.49%$1.9752.13%
TRSTTrustCo Bank Corp NY3.49%$1.4448.14%
OMCOmnicom Group Inc.3.47%$2.8341.26%
PROVProvident Financial Holdings, Inc.3.47%$0.5561.73%
UTLUnitil Corporation3.47%$1.7061.75%
BF-ABrown-Forman Corporation3.45%$0.9152.84%
COFSChoiceOne Financial Services, Inc.3.45%$1.0070.38%
FCBPFirst Choice Bancorp3.45%$1.0034.34%
NXSTNexstar Media Group, Inc.3.45%$7.2042.75%
STBAS&T Bancorp, Inc.3.45%$1.3529.75%
VABKVirginia National Bankshares Corporation3.45%$1.3755.94%
F-PBFord Motor Company 6.20% Notes3.44%$0.7463.45%
0K3B.LThe Mosaic Company3.43%$0.8722.53%
CPFCentral Pacific Financial Corp.3.43%$1.0743.87%
CTBICommunity Trust Bancorp, Inc.3.43%$1.9337.41%
IIINInsteel Industries, Inc.3.43%$1.1153.05%
JJSFJ&J Snack Foods Corp.3.43%$3.1192.62%
TMPTompkins Financial Corporation3.43%$2.4942.22%
ALRSAlerus Financial Corporation3.41%$0.7739.09%
CNXCConcentrix Corporation3.41%$1.4028.16%
FBPFirst BanCorp.3.41%$0.7134.06%
GLOClough Global Opportunities Fund3.41%$0.1915.90%
OPBKOP Bancorp3.41%$0.4830.19%
PHXPHX Minerals Inc.3.39%$0.1581.44%
WHGWestwood Holdings Group, Inc.3.39%$0.6073.76%
SCVLShoe Carnival, Inc.3.38%$0.5928.17%
OGSONE Gas, Inc.3.37%$2.6161.93%
VALUValue Line, Inc.3.36%$1.2555.36%
WTRGEssential Utilities, Inc.3.36%$1.3054.79%
AVNTAvient Corporation3.35%$1.0686.14%
KTBKontoor Brands, Inc.3.35%$2.0653.00%
VCTRVictory Capital Holdings, Inc.3.35%$2.1548.89%
WAFDWaFd, Inc.3.35%$1.0837.44%
PBProsperity Bancshares, Inc.3.34%$2.3241.44%
PFGPrincipal Financial Group, Inc.3.34%$2.9943.04%
EVBNEvans Bancorp, Inc.3.33%$1.3160.97%
NFYSEnphys Acquisition Corp.3.33%$0.3768.70%
KMPRKemper Corporation3.32%$1.3132.45%