Definitive Analysis
| Stable Growth | $129,649.49 - $200,454.85 | $162,482.68 |
| Multi-Stage | $105,212.04 - $114,679.33 | $109,861.44 |
| Blended Fair Value | $136,172.06 | |
| Current Price | $262,500.00 | |
| Upside | -48.12% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 20.49% | 18.46% | 772.68 | 405.21 | 1,385.58 | 388.24 | 356.84 | 304.32 | 275.80 | 211.58 | 208.66 | 149.64 |
| YoY Growth | - | - | 90.69% | -70.76% | 256.89% | 8.80% | 17.26% | 10.34% | 30.35% | 1.40% | 39.44% | 5.36% |
| Dividend Yield | - | - | 0.40% | 0.21% | 0.69% | 0.11% | 0.09% | 0.18% | 0.22% | 0.13% | 0.12% | 0.12% |
| Net Income To Common (M) | 1,987,895.58 |
| (-) Cash Dividends Paid (M) | 168,436.67 |
| (=) Cash Retained (M) | 1,819,458.91 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 397,579.12 | 248,486.95 | 149,092.17 |
| Cash Retained (M) | 1,819,458.91 | 1,819,458.91 | 1,819,458.91 |
| (-) Cash Required (M) | -397,579.12 | -248,486.95 | -149,092.17 |
| (=) Excess Retained (M) | 1,421,879.80 | 1,570,971.96 | 1,670,366.74 |
| (/) Shares Outstanding (M) | 153.99 | 153.99 | 153.99 |
| (=) Excess Retained per Share | 9,233.65 | 10,201.85 | 10,847.31 |
| LTM Dividend per Share | 1,093.82 | 1,093.82 | 1,093.82 |
| (+) Excess Retained per Share | 9,233.65 | 10,201.85 | 10,847.31 |
| (=) Adjusted Dividend | 10,327.47 | 11,295.67 | 11,941.13 |
| WACC / Discount Rate | 13.90% | 13.90% | 13.90% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $129,649.49 | $162,482.68 | $200,454.85 |
| Upside / Downside | -50.61% | -38.10% | -23.64% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,987,895.58 | 2,117,108.79 | 2,254,720.86 | 2,401,277.72 | 2,557,360.77 | 2,723,589.22 | 2,805,296.90 |
| Payout Ratio | 8.47% | 24.78% | 41.08% | 57.39% | 73.69% | 90.00% | 92.50% |
| Projected Dividends (M) | 168,436.67 | 524,587.62 | 926,326.56 | 1,378,075.17 | 1,884,637.38 | 2,451,230.30 | 2,594,899.63 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 13.90% | 13.90% | 13.90% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 456,228.80 | 460,553.24 | 464,877.68 |
| Year 2 PV (M) | 700,637.57 | 713,982.75 | 727,453.82 |
| Year 3 PV (M) | 906,498.04 | 932,520.34 | 959,035.94 |
| Year 4 PV (M) | 1,078,167.94 | 1,119,631.23 | 1,162,279.11 |
| Year 5 PV (M) | 1,219,571.83 | 1,278,477.60 | 1,339,637.84 |
| PV of Terminal Value (M) | 11,840,392.65 | 12,412,288.04 | 13,006,071.22 |
| Equity Value (M) | 16,201,496.82 | 16,917,453.20 | 17,659,355.61 |
| Shares Outstanding (M) | 153.99 | 153.99 | 153.99 |
| Fair Value | $105,212.04 | $109,861.44 | $114,679.33 |
| Upside / Downside | -59.92% | -58.15% | -56.31% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| PCR.WA | PCC Rokita S.A. | 7.82% | $5.05 | 95.33% |
| TQR.BK | TQR Public Company Limited | 7.82% | $0.39 | 90.56% |
| KGI.BK | KGI Securities (Thailand) Public Company Limited | 7.81% | $0.31 | 62.80% |
| PRDA.JK | PT Prodia Widyahusada Tbk | 7.81% | $180.52 | 85.06% |
| AIMIRT.BK | AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust | 7.80% | $0.85 | 81.01% |
| AKRA.JK | PT AKR Corporindo Tbk | 7.80% | $99.88 | 82.20% |
| SPREME.BK | Supreme Distribution Public Company Limited | 7.80% | $0.11 | 90.62% |
| AYV.PA | Ayvens | 7.79% | $0.91 | 71.87% |
| 1378.HK | China Hongqiao Group Limited | 7.78% | $2.65 | 56.89% |
| NRG.PA | NRJ Group S.A. | 7.78% | $0.63 | 63.81% |
| D2O.AX | Duxton Water Limited | 7.77% | $0.12 | 50.68% |
| TVO-R.BK | Thai Vegetable Oil Public Company Limited | 7.77% | $1.74 | 62.11% |
| C38U.SI | CapitaLand Integrated Commercial Trust | 7.76% | $0.18 | 74.73% |
| 002839.SZ | Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd | 7.75% | $0.35 | 44.09% |
| 0710.HK | BOE Varitronix Limited | 7.75% | $0.42 | 39.15% |
| 0951.HK | Chaowei Power Holdings Limited | 7.75% | $0.11 | 20.52% |
| 1681.HK | Consun Pharmaceutical Group Limited | 7.75% | $1.20 | 55.92% |
| AXA.DE | AXA S.A. | 7.75% | $3.17 | 52.74% |
| RND.AX | Rand Mining Limited | 7.75% | $0.20 | 57.47% |
| 601881.SS | China Galaxy Securities Co., Ltd. | 7.74% | $1.22 | 98.30% |
| TA1.DE | Telekom Austria AG | 7.74% | $0.76 | 79.04% |
| 0746.HK | Lee & Man Chemical Company Limited | 7.73% | $0.40 | 35.48% |
| NESN.SW | Nestlé S.A. | 7.73% | $6.09 | 72.83% |
| 2633.HK | Jacobson Pharma Corporation Limited | 7.72% | $0.10 | 36.63% |
| 000498.SZ | Shandong Hi-Speed Road and Bridge Group Co., Ltd. | 7.71% | $0.47 | 48.64% |
| 0016.HK | Sun Hung Kai Properties Limited | 7.71% | $7.45 | 56.97% |
| 0QKE.L | Vontobel Holding AG | 7.70% | $4.46 | 61.99% |
| HAEK.DE | Haemato AG | 7.70% | $1.63 | 85.37% |
| 2688.HK | ENN Energy Holdings Limited | 7.68% | $5.39 | 50.36% |
| ASIMAR.BK | Asian Marine Services Public Company Limited | 7.68% | $0.12 | 60.54% |
| SAMS.PA | Samse S.A. | 7.68% | $10.25 | 56.16% |
| SEC.AX | Spheria Emerging Companies Limited | 7.68% | $0.22 | 15.84% |
| UVAN.BK | Univanich Palm Oil Public Company Limited | 7.68% | $1.00 | 63.09% |
| JCT.BK | Jack Chia Industries (Thailand) Public Company Limited | 7.67% | $6.44 | 83.85% |
| KFL.NZ | Kingfish Limited | 7.67% | $0.10 | 38.05% |
| ALRIB.PA | Riber S.A. | 7.65% | $0.27 | 71.18% |
| DXI.AX | Dexus Industria REIT | 7.65% | $0.21 | 17.56% |
| NISP.JK | PT Bank OCBC NISP Tbk | 7.65% | $106.00 | 49.91% |
| SCG.AX | Scentre Group | 7.65% | $0.32 | 91.06% |
| 002572.SZ | Suofeiya Home Collection Co., Ltd. | 7.62% | $1.04 | 88.29% |
| 035000.KS | HS Ad Inc. | 7.62% | $648.83 | 81.78% |
| JMT-R.BK | JMT Network Services Public Company Limited | 7.62% | $0.67 | 69.23% |
| SQU.DE | Vinci S.A. | 7.62% | $9.24 | 55.99% |
| 0QP2.L | Zurich Insurance Group AG | 7.61% | $32.48 | 79.70% |
| BAMI.MI | Banco BPM S.p.A. | 7.61% | $1.00 | 80.93% |
| 600795.SS | GD Power Development Co.,Ltd | 7.60% | $0.38 | 92.13% |
| BTI.AX | Bailador Technology Investments Limited | 7.60% | $0.09 | 34.83% |
| SMPC.BK | Sahamitr Pressure Container Public Company Limited | 7.60% | $0.67 | 57.18% |
| 0O33.L | Oeneo S.A. | 7.59% | $0.70 | 76.88% |
| BOREO.HE | Boreo Oyj | 7.59% | $1.08 | 82.86% |