Definitive Analysis
| Stable Growth | $13,852.56 - $42,372.96 | $22,085.88 |
| Multi-Stage | $14,828.59 - $16,255.26 | $15,528.56 |
| Blended Fair Value | $18,807.22 | |
| Current Price | $3,480.00 | |
| Upside | 440.44% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 5.17% | -2.31% | 58.56 | 76.48 | 0.02 | 0.00 | 15.21 | 45.52 | 60.63 | 78.09 | 40.41 | 67.68 |
| YoY Growth | - | - | -23.44% | 374,970.27% | 0.00% | -100.00% | -66.60% | -24.92% | -22.36% | 93.26% | -40.29% | -8.55% |
| Dividend Yield | - | - | 1.47% | 1.35% | 0.00% | 0.00% | 0.38% | 1.79% | 1.03% | 1.71% | 0.87% | 1.26% |
| Net Income To Common (M) | 3,963,713.00 |
| (-) Cash Dividends Paid (M) | 1,863,914.00 |
| (=) Cash Retained (M) | 2,099,799.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 792,742.60 | 495,464.13 | 297,278.48 |
| Cash Retained (M) | 2,099,799.00 | 2,099,799.00 | 2,099,799.00 |
| (-) Cash Required (M) | -792,742.60 | -495,464.13 | -297,278.48 |
| (=) Excess Retained (M) | 1,307,056.40 | 1,604,334.88 | 1,802,520.53 |
| (/) Shares Outstanding (M) | 7,257.87 | 7,257.87 | 7,257.87 |
| (=) Excess Retained per Share | 180.09 | 221.05 | 248.35 |
| LTM Dividend per Share | 256.81 | 256.81 | 256.81 |
| (+) Excess Retained per Share | 180.09 | 221.05 | 248.35 |
| (=) Adjusted Dividend | 436.90 | 477.86 | 505.17 |
| WACC / Discount Rate | 6.42% | 6.42% | 6.42% |
| Growth Rate | 3.17% | 4.17% | 5.17% |
| Fair Value | $13,852.56 | $22,085.88 | $42,372.96 |
| Upside / Downside | 298.06% | 534.65% | 1,117.61% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 3,963,713.00 | 4,128,822.79 | 4,300,810.28 | 4,479,961.98 | 4,666,576.29 | 4,860,964.09 | 5,006,793.01 |
| Payout Ratio | 47.02% | 55.62% | 64.21% | 72.81% | 81.40% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,863,914.00 | 2,296,432.87 | 2,761,750.98 | 3,261,850.35 | 3,798,821.24 | 4,374,867.68 | 4,631,283.53 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.42% | 6.42% | 6.42% |
| Growth Rate | 3.17% | 4.17% | 5.17% |
| Year 1 PV (M) | 2,137,193.83 | 2,157,909.99 | 2,178,626.15 |
| Year 2 PV (M) | 2,392,020.12 | 2,438,617.34 | 2,485,664.05 |
| Year 3 PV (M) | 2,629,265.86 | 2,706,467.05 | 2,785,164.84 |
| Year 4 PV (M) | 2,849,767.85 | 2,961,877.82 | 3,077,263.51 |
| Year 5 PV (M) | 3,054,328.21 | 3,205,256.39 | 3,362,092.89 |
| PV of Terminal Value (M) | 94,561,415.63 | 99,234,122.98 | 104,089,751.07 |
| Equity Value (M) | 107,623,991.51 | 112,704,251.57 | 117,978,562.52 |
| Shares Outstanding (M) | 7,257.87 | 7,257.87 | 7,257.87 |
| Fair Value | $14,828.59 | $15,528.56 | $16,255.26 |
| Upside / Downside | 326.11% | 346.22% | 367.11% |
| 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% |