DDM Analysis: 600897.SS

Valuation Snapshot

Stable Growth	$6.31 - $8.80	$7.55
Multi-Stage	$9.79 - $10.78	$10.28
Blended Fair Value	$8.91
Current Price	$14.46
Upside	-38.35%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-23.55%	-2.10%	0.26	0.06	0.10	0.12	0.37	0.99	0.74	0.72	0.27	0.33
YoY Growth	-	-	323.26%	-39.86%	-17.38%	-66.91%	-62.47%	34.02%	2.97%	165.79%	-19.25%	4.57%
Dividend Yield	-	-	1.76%	0.46%	0.82%	1.10%	2.83%	7.95%	4.26%	4.92%	1.46%	2.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	444.21
(-) Cash Dividends Paid (M)	2.03
(=) Cash Retained (M)	442.18

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	88.84	55.53	33.32
Cash Retained (M)	442.18	442.18	442.18
(-) Cash Required (M)	-88.84	-55.53	-33.32
(=) Excess Retained (M)	353.34	386.65	408.86
(/) Shares Outstanding (M)	419.56	419.56	419.56
(=) Excess Retained per Share	0.84	0.92	0.97
LTM Dividend per Share	0.00	0.00	0.00
(+) Excess Retained per Share	0.84	0.92	0.97
(=) Adjusted Dividend	0.85	0.93	0.98
WACC / Discount Rate	9.75%	9.75%	9.75%
Growth Rate	-3.24%	-2.24%	-1.24%
Fair Value	$6.31	$7.55	$8.80
Upside / Downside	-56.38%	-47.78%	-39.16%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	444.21	434.24	424.50	414.97	405.66	396.55	408.45
Payout Ratio	0.46%	18.37%	36.27%	54.18%	72.09%	90.00%	92.50%
Projected Dividends (M)	2.03	79.76	153.99	224.85	292.45	356.90	377.82

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.75%	9.75%	9.75%
Growth Rate	-3.24%	-2.24%	-1.24%
Year 1 PV (M)	71.93	72.67	73.41
Year 2 PV (M)	125.24	127.84	130.47
Year 3 PV (M)	164.92	170.09	175.36
Year 4 PV (M)	193.45	201.57	209.95
Year 5 PV (M)	212.91	224.15	235.85
PV of Terminal Value (M)	3,339.39	3,515.56	3,699.09
Equity Value (M)	4,107.84	4,311.88	4,524.13
Shares Outstanding (M)	419.56	419.56	419.56
Fair Value	$9.79	$10.28	$10.78
Upside / Downside	-32.29%	-28.93%	-25.43%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 13 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
CL	Colgate-Palmolive Company	2.88%	$2.24	62.40%
TCBK	TriCo Bancshares	2.87%	$1.35	37.83%
0U6R.L	Bunge Limited	2.86%	$3.05	31.37%
FBMS	The First Bancshares, Inc.	2.86%	$0.97	39.72%
RILYG	B. Riley Financial, Inc. 5.00% Senior Notes due 2026	2.86%	$0.58	56.91%
CNS	Cohen & Steers, Inc.	2.85%	$1.81	56.91%
MRBK	Meridian Corporation	2.85%	$0.49	27.85%
AMGN	Amgen Inc.	2.84%	$9.31	72.03%
BKH	Black Hills Corporation	2.84%	$1.98	50.60%
GABC	German American Bancorp, Inc.	2.84%	$1.11	40.35%
HOMB	Home Bancshares, Inc.	2.84%	$0.79	34.17%
KO	The Coca-Cola Company	2.84%	$1.96	65.04%
SBFG	SB Financial Group, Inc.	2.84%	$0.61	28.02%
TSBK	Timberland Bancorp, Inc.	2.84%	$1.00	27.24%
CATY	Cathay General Bancorp	2.83%	$1.38	31.20%
CWT	California Water Service Group	2.83%	$1.22	53.25%
EBIX	Ebix, Inc.	2.83%	$0.08	46.85%
CMS-PB	Consumers Energy Company	2.82%	$2.17	62.27%
EPRT	Essential Properties Realty Trust, Inc.	2.82%	$0.85	70.58%
GPK	Graphic Packaging Holding Company	2.82%	$0.43	24.85%
VALSX	Value Line Select Growth Fund	2.82%	$0.87	56.29%
CCNE	CNB Financial Corporation	2.81%	$0.72	35.05%
ORRF	Orrstown Financial Services, Inc.	2.81%	$0.98	26.05%
TXNM	TXNM Energy, Inc.	2.80%	$1.65	86.75%
STC	Stewart Information Services Corporation	2.79%	$1.95	54.56%
CVLY	Codorus Valley Bancorp, Inc.	2.77%	$0.67	28.98%
KKRS	KKR Group Finance Co. IX LLC 4.	2.77%	$0.49	7.61%
SHBI	Shore Bancshares, Inc.	2.77%	$0.48	28.28%
HNNA	Hennessy Advisors, Inc.	2.76%	$0.27	21.11%
HONE	HarborOne Bancorp, Inc.	2.76%	$0.33	51.05%
KMT	Kennametal Inc.	2.76%	$0.80	65.12%
PNM	PNM Resources, Inc.	2.76%	$1.12	57.65%
HWC	Hancock Whitney Corporation	2.75%	$1.77	31.35%
YOU	Clear Secure, Inc.	2.75%	$0.95	50.89%
0HE2.L	Ameren Corporation	2.74%	$2.78	53.51%
MTDR	Matador Resources Company	2.74%	$1.19	18.96%
OFG	OFG Bancorp	2.74%	$1.12	25.13%
VLO	Valero Energy Corporation	2.74%	$4.53	93.65%
YORW	The York Water Company	2.73%	$0.87	62.37%
CCZ	Comcast Holdings Corp.	2.72%	$1.63	26.92%
K	Kellanova	2.72%	$2.27	62.18%
ADT	ADT Inc.	2.71%	$0.22	29.95%
AVT	Avnet, Inc.	2.71%	$1.34	48.46%
BKU	BankUnited, Inc.	2.71%	$1.21	34.19%
CNOB	ConnectOne Bancorp, Inc.	2.71%	$0.71	48.64%
GBX	The Greenbrier Companies, Inc.	2.71%	$1.28	19.40%
PBHC	Pathfinder Bancorp, Inc.	2.71%	$0.38	26.39%
TRIN	Trinity Capital Inc.	2.71%	$0.41	20.50%
RILYN	B. Riley Financial, Inc. - 6.50	2.70%	$0.58	56.91%
0L5A.L	Sempra	2.69%	$2.41	72.79%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Xiamen International Airport Co.,Ltd (600897.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener