DDM Analysis: 603931.SS

Valuation Snapshot

Stable Growth	$104.94 - $123.71	$115.90
Multi-Stage	$239.16 - $263.26	$250.97
Blended Fair Value	$183.44
Current Price	$26.62
Upside	589.10%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	14.06%	0.00%	0.27	0.25	0.21	0.15	0.13	0.14	0.11	0.27	0.18	0.00
YoY Growth	-	-	6.00%	16.67%	40.00%	15.11%	-3.12%	20.49%	-58.39%	49.65%	0.00%	0.00%
Dividend Yield	-	-	0.94%	1.14%	0.62%	0.79%	0.61%	0.87%	0.73%	0.00%	0.00%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	127.60
(-) Cash Dividends Paid (M)	43.90
(=) Cash Retained (M)	83.70

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	25.52	15.95	9.57
Cash Retained (M)	83.70	83.70	83.70
(-) Cash Required (M)	-25.52	-15.95	-9.57
(=) Excess Retained (M)	58.18	67.75	74.13
(/) Shares Outstanding (M)	199.56	199.56	199.56
(=) Excess Retained per Share	0.29	0.34	0.37
LTM Dividend per Share	0.22	0.22	0.22
(+) Excess Retained per Share	0.29	0.34	0.37
(=) Adjusted Dividend	0.51	0.56	0.59
WACC / Discount Rate	-21.60%	-21.60%	-21.60%
Growth Rate	2.58%	3.58%	4.58%
Fair Value	$104.94	$115.90	$123.71
Upside / Downside	294.23%	335.39%	364.72%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	127.60	132.17	136.89	141.79	146.86	152.11	156.67
Payout Ratio	34.41%	45.52%	56.64%	67.76%	78.88%	90.00%	92.50%
Projected Dividends (M)	43.90	60.17	77.54	96.08	115.84	136.90	144.92

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	-21.60%	-21.60%	-21.60%
Growth Rate	2.58%	3.58%	4.58%
Year 1 PV (M)	76.00	76.74	77.48
Year 2 PV (M)	123.71	126.14	128.59
Year 3 PV (M)	193.62	199.34	205.17
Year 4 PV (M)	294.88	306.55	318.56
Year 5 PV (M)	440.17	462.05	484.79
PV of Terminal Value (M)	46,597.08	48,913.16	51,320.42
Equity Value (M)	47,725.48	50,083.98	52,535.02
Shares Outstanding (M)	199.56	199.56	199.56
Fair Value	$239.16	$250.97	$263.26
Upside / Downside	798.41%	842.80%	888.94%

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

Hangzhou Greenda Electronic Materials Co., Ltd. (603931.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener