Definitive Analysis
| Stable Growth | $92,168.14 - $175,812.47 | $164,762.03 |
| Multi-Stage | $27,367.92 - $29,966.18 | $28,643.13 |
| Blended Fair Value | $96,702.58 | |
| Current Price | $7,225.00 | |
| Upside | 1,238.44% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 9.32% | 6.52% | 267.00 | 257.00 | 278.00 | 278.00 | 278.00 | 171.00 | 302.00 | 235.00 | 168.00 | 220.00 |
| YoY Growth | - | - | 3.89% | -7.55% | 0.00% | 0.00% | 62.57% | -43.38% | 28.51% | 39.88% | -23.64% | 54.93% |
| Dividend Yield | - | - | 3.76% | 4.00% | 4.48% | 4.67% | 4.21% | 2.69% | 4.81% | 3.26% | 2.10% | 3.04% |
| Net Income To Common (M) | 7,762,205.00 |
| (-) Cash Dividends Paid (M) | 2,458,520.00 |
| (=) Cash Retained (M) | 5,303,685.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,552,441.00 | 970,275.63 | 582,165.38 |
| Cash Retained (M) | 5,303,685.00 | 5,303,685.00 | 5,303,685.00 |
| (-) Cash Required (M) | -1,552,441.00 | -970,275.63 | -582,165.38 |
| (=) Excess Retained (M) | 3,751,244.00 | 4,333,409.38 | 4,721,519.63 |
| (/) Shares Outstanding (M) | 8,780.43 | 8,780.43 | 8,780.43 |
| (=) Excess Retained per Share | 427.23 | 493.53 | 537.73 |
| LTM Dividend per Share | 280.00 | 280.00 | 280.00 |
| (+) Excess Retained per Share | 427.23 | 493.53 | 537.73 |
| (=) Adjusted Dividend | 707.23 | 773.53 | 817.73 |
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $92,168.14 | $164,762.03 | $175,812.47 |
| Upside / Downside | 1,175.68% | 2,180.44% | 2,333.39% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,762,205.00 | 8,266,748.33 | 8,804,086.97 | 9,376,352.62 | 9,985,815.54 | 10,634,893.55 | 10,953,940.36 |
| Payout Ratio | 31.67% | 43.34% | 55.00% | 66.67% | 78.33% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,458,520.00 | 3,582,673.74 | 4,842,580.22 | 6,251,137.74 | 7,822,347.84 | 9,571,404.19 | 10,132,394.83 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,338,396.59 | 3,370,040.16 | 3,401,683.73 |
| Year 2 PV (M) | 4,204,730.44 | 4,284,818.75 | 4,365,662.60 |
| Year 3 PV (M) | 5,057,676.79 | 5,202,864.51 | 5,350,804.53 |
| Year 4 PV (M) | 5,897,389.28 | 6,124,186.23 | 6,357,462.61 |
| Year 5 PV (M) | 6,724,020.00 | 7,048,792.68 | 7,385,995.17 |
| PV of Terminal Value (M) | 215,079,778.08 | 225,468,211.79 | 236,254,235.30 |
| Equity Value (M) | 240,301,991.18 | 251,498,914.12 | 263,115,843.94 |
| Shares Outstanding (M) | 8,780.43 | 8,780.43 | 8,780.43 |
| Fair Value | $27,367.92 | $28,643.13 | $29,966.18 |
| Upside / Downside | 278.79% | 296.44% | 314.76% |
| 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% |