DDM Analysis: 603035.SS

Valuation Snapshot

Stable Growth	$84.18 - $206.23	$193.27
Multi-Stage	$30.19 - $33.03	$31.58
Blended Fair Value	$112.43
Current Price	$17.61
Upside	538.42%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	2.92%	2.19%	0.57	0.54	0.47	0.43	0.37	0.50	0.27	0.21	0.37	0.20
YoY Growth	-	-	6.54%	13.76%	10.93%	14.07%	-24.71%	82.24%	31.05%	-43.26%	86.73%	-57.48%
Dividend Yield	-	-	3.91%	3.32%	2.43%	3.16%	3.34%	3.78%	1.94%	1.41%	1.41%	1.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	388.06
(-) Cash Dividends Paid (M)	173.88
(=) Cash Retained (M)	214.18

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	77.61	48.51	29.10
Cash Retained (M)	214.18	214.18	214.18
(-) Cash Required (M)	-77.61	-48.51	-29.10
(=) Excess Retained (M)	136.57	165.68	185.08
(/) Shares Outstanding (M)	374.22	374.22	374.22
(=) Excess Retained per Share	0.36	0.44	0.49
LTM Dividend per Share	0.46	0.46	0.46
(+) Excess Retained per Share	0.36	0.44	0.49
(=) Adjusted Dividend	0.83	0.91	0.96
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$84.18	$193.27	$206.23
Upside / Downside	378.03%	997.48%	1,071.09%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	388.06	413.29	440.15	468.76	499.23	531.68	547.63
Payout Ratio	44.81%	53.85%	62.88%	71.92%	80.96%	90.00%	92.50%
Projected Dividends (M)	173.88	222.54	276.78	337.14	404.18	478.51	506.56

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	206.91	208.88	210.84
Year 2 PV (M)	239.29	243.85	248.45
Year 3 PV (M)	271.01	278.79	286.72
Year 4 PV (M)	302.10	313.71	325.66
Year 5 PV (M)	332.54	348.61	365.28
PV of Terminal Value (M)	9,945.41	10,425.78	10,924.53
Equity Value (M)	11,297.27	11,819.62	12,361.49
Shares Outstanding (M)	374.22	374.22	374.22
Fair Value	$30.19	$31.58	$33.03
Upside / Downside	71.43%	79.35%	87.58%

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

Analysis Mode

Ticker

Industry

Sector

Jiangsu Changshu Automotive Trim Group Co., Ltd. (603035.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener