DDM Analysis: 603737.SS

Valuation Snapshot

Stable Growth	$177.64 - $209.29	$196.14
Multi-Stage	$55.36 - $60.67	$57.96
Blended Fair Value	$127.05
Current Price	$47.88
Upside	165.35%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	21.25%	20.01%	0.44	0.30	0.25	0.42	0.31	0.17	0.11	0.07	0.07	0.05
YoY Growth	-	-	49.46%	17.90%	-40.22%	33.74%	86.02%	58.45%	43.71%	3.90%	49.93%	-33.33%
Dividend Yield	-	-	1.20%	1.25%	0.42%	0.93%	0.43%	0.73%	0.92%	0.75%	0.69%	1.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	665.21
(-) Cash Dividends Paid (M)	297.64
(=) Cash Retained (M)	367.57

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	133.04	83.15	49.89
Cash Retained (M)	367.57	367.57	367.57
(-) Cash Required (M)	-133.04	-83.15	-49.89
(=) Excess Retained (M)	234.53	284.42	317.68
(/) Shares Outstanding (M)	632.10	632.10	632.10
(=) Excess Retained per Share	0.37	0.45	0.50
LTM Dividend per Share	0.47	0.47	0.47
(+) Excess Retained per Share	0.37	0.45	0.50
(=) Adjusted Dividend	0.84	0.92	0.97
WACC / Discount Rate	4.99%	4.99%	4.99%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$177.64	$196.14	$209.29
Upside / Downside	271.02%	309.64%	337.12%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	665.21	708.45	754.50	803.54	855.77	911.40	938.74
Payout Ratio	44.74%	53.80%	62.85%	71.90%	80.95%	90.00%	92.50%
Projected Dividends (M)	297.64	381.11	474.18	577.73	692.74	820.26	868.33

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	4.99%	4.99%	4.99%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	359.58	362.99	366.39
Year 2 PV (M)	422.10	430.14	438.26
Year 3 PV (M)	485.22	499.15	513.34
Year 4 PV (M)	548.94	570.05	591.77
Year 5 PV (M)	613.26	642.88	673.64
PV of Terminal Value (M)	32,561.71	34,134.45	35,767.39
Equity Value (M)	34,990.82	36,639.67	38,350.79
Shares Outstanding (M)	632.10	632.10	632.10
Fair Value	$55.36	$57.96	$60.67
Upside / Downside	15.61%	21.06%	26.72%

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

SKSHU Paint Co.,Ltd. (603737.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener