DDM Analysis: 603600.SS

Valuation Snapshot

Stable Growth	$70.43 - $156.75	$146.89
Multi-Stage	$23.61 - $25.84	$24.71
Blended Fair Value	$85.80
Current Price	$10.81
Upside	693.71%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	9.16%	20.54%	0.60	0.34	0.26	0.31	0.23	0.39	0.39	0.18	0.15	0.07
YoY Growth	-	-	74.97%	33.66%	-16.81%	35.36%	-41.14%	-1.04%	117.35%	19.35%	124.77%	-27.60%
Dividend Yield	-	-	5.15%	2.75%	2.36%	3.34%	1.91%	2.76%	3.71%	1.57%	0.72%	0.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	262.87
(-) Cash Dividends Paid (M)	119.39
(=) Cash Retained (M)	143.48

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	52.57	32.86	19.71
Cash Retained (M)	143.48	143.48	143.48
(-) Cash Required (M)	-52.57	-32.86	-19.71
(=) Excess Retained (M)	90.90	110.62	123.76
(/) Shares Outstanding (M)	333.51	333.51	333.51
(=) Excess Retained per Share	0.27	0.33	0.37
LTM Dividend per Share	0.36	0.36	0.36
(+) Excess Retained per Share	0.27	0.33	0.37
(=) Adjusted Dividend	0.63	0.69	0.73
WACC / Discount Rate	6.44%	6.44%	6.44%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$70.43	$146.89	$156.75
Upside / Downside	551.52%	1,258.88%	1,350.02%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	262.87	279.95	298.15	317.53	338.17	360.15	370.95
Payout Ratio	45.42%	54.33%	63.25%	72.17%	81.08%	90.00%	92.50%
Projected Dividends (M)	119.39	152.11	188.58	229.15	274.20	324.13	343.13

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.44%	6.44%	6.44%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	141.56	142.90	144.24
Year 2 PV (M)	163.33	166.44	169.58
Year 3 PV (M)	184.70	190.00	195.40
Year 4 PV (M)	205.68	213.59	221.72
Year 5 PV (M)	226.27	237.20	248.54
PV of Terminal Value (M)	6,953.93	7,289.80	7,638.54
Equity Value (M)	7,875.45	8,239.92	8,618.02
Shares Outstanding (M)	333.51	333.51	333.51
Fair Value	$23.61	$24.71	$25.84
Upside / Downside	118.44%	128.55%	139.04%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 12 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
SO	The Southern Company	3.09%	$2.69	67.01%
CFR	Cullen/Frost Bankers, Inc.	3.08%	$3.94	39.68%
CMS	CMS Energy Corporation	3.08%	$2.17	62.27%
SJW	SJW Group	3.08%	$1.60	52.08%
SNV	Synovus Financial Corp.	3.08%	$1.54	27.05%
0HCT.L	Alliant Energy Corporation	3.07%	$1.99	62.84%
0M3L.L	Zions Bancorporation, National Association	3.07%	$1.79	31.01%
IVZ	Invesco Ltd.	3.07%	$0.83	35.83%
SWX	Southwest Gas Holdings, Inc.	3.07%	$2.46	38.44%
PEG	Public Service Enterprise Group Incorporated	3.06%	$2.48	59.65%
CASS	Cass Information Systems, Inc.	3.05%	$1.24	52.58%
CIVB	Civista Bancshares, Inc.	3.05%	$0.67	25.26%
TXN	Texas Instruments Incorporated	3.05%	$5.41	98.14%
CTRE	CareTrust REIT, Inc.	3.04%	$1.10	89.62%
UCB	United Community Banks, Inc.	3.04%	$0.95	36.76%
DRI	Darden Restaurants, Inc.	3.03%	$5.68	60.69%
HMN	Horace Mann Educators Corporation	3.02%	$1.36	34.55%
VG	Venture Global, Inc.	3.02%	$0.21	24.09%
HFBL	Home Federal Bancorp, Inc. of Louisiana	3.01%	$0.54	35.96%
TOWN	TowneBank	3.01%	$1.00	45.24%
GBCI	Glacier Bancorp, Inc.	3.00%	$1.34	64.06%
MBWM	Mercantile Bank Corporation	3.00%	$1.43	27.14%
PPL	PPL Corporation	3.00%	$1.05	71.70%
DTSQ	DT Cloud Star Acquisition Corporation	2.99%	$0.32	87.02%
EBMT	Eagle Bancorp Montana, Inc.	2.99%	$0.58	33.76%
INDB	Independent Bank Corp.	2.99%	$2.19	35.86%
ESSA	ESSA Bancorp, Inc.	2.98%	$0.61	39.75%
RDN	Radian Group Inc.	2.98%	$1.07	25.60%
0K0X.L	MetLife, Inc.	2.96%	$2.36	41.08%
CUBB	Customers Bancorp, Inc 5.375% S	2.96%	$0.66	12.54%
HBB	Hamilton Beach Brands Holding Company	2.96%	$0.47	20.02%
SD	SandRidge Energy, Inc.	2.96%	$0.44	24.38%
STRW	Strawberry Fields REIT LLC	2.95%	$0.38	70.76%
INGR	Ingredion Incorporated	2.94%	$3.23	32.02%
JWN	Nordstrom, Inc.	2.94%	$0.73	42.03%
PKBK	Parke Bancorp, Inc.	2.94%	$0.71	25.08%
0JW2.L	M&T Bank Corporation	2.93%	$5.91	33.38%
EIG	Employers Holdings, Inc.	2.93%	$1.26	48.48%
MYE	Myers Industries, Inc.	2.93%	$0.55	73.41%
RM	Regional Management Corp.	2.93%	$1.15	28.16%
HSY	The Hershey Company	2.92%	$5.33	79.75%
STZ	Constellation Brands, Inc.	2.92%	$4.12	59.24%
AROC	Archrock, Inc.	2.91%	$0.77	51.05%
JXN	Jackson Financial Inc.	2.91%	$3.13	38.19%
OSPN	OneSpan Inc.	2.91%	$0.36	23.87%
0LC6.L	Sysco Corporation	2.90%	$2.10	55.57%
EXE	Expand Energy Corporation	2.89%	$3.17	87.89%
PG	The Procter & Gamble Company	2.89%	$4.09	59.50%
RES	RPC, Inc.	2.89%	$0.16	72.96%
0M1R.L	Xcel Energy Inc.	2.88%	$2.16	65.69%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

UE Furniture Co., Ltd. (603600.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener