DDM Analysis: 002278.SZ

Valuation Snapshot

Stable Growth	$1.96 - $3.77	$2.69
Multi-Stage	$10.08 - $11.15	$10.61
Blended Fair Value	$6.65
Current Price	$9.27
Upside	-28.28%
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	3.98%	-6.46%	0.06	0.01	0.05	0.05	0.05	0.05	0.00	0.00	0.00	0.09
YoY Growth	-	-	331.37%	-71.71%	2.50%	-2.82%	0.00%	2,966.01%	194.04%	-6.42%	-99.33%	-25.75%
Dividend Yield	-	-	0.73%	0.29%	0.91%	0.79%	0.84%	0.89%	0.02%	0.00%	0.00%	0.67%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	47.68
(-) Cash Dividends Paid (M)	24.79
(=) Cash Retained (M)	22.89

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	9.54	5.96	3.58
Cash Retained (M)	22.89	22.89	22.89
(-) Cash Required (M)	-9.54	-5.96	-3.58
(=) Excess Retained (M)	13.36	16.93	19.32
(/) Shares Outstanding (M)	361.89	361.89	361.89
(=) Excess Retained per Share	0.04	0.05	0.05
LTM Dividend per Share	0.07	0.07	0.07
(+) Excess Retained per Share	0.04	0.05	0.05
(=) Adjusted Dividend	0.11	0.12	0.12
WACC / Discount Rate	1.82%	1.82%	1.82%
Growth Rate	-3.37%	-2.37%	-1.37%
Fair Value	$1.96	$2.69	$3.77
Upside / Downside	-78.81%	-70.99%	-59.30%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	47.68	46.55	45.45	44.37	43.32	42.30	43.57
Payout Ratio	51.99%	59.59%	67.19%	74.80%	82.40%	90.00%	92.50%
Projected Dividends (M)	24.79	27.74	30.54	33.19	35.70	38.07	40.30

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	1.82%	1.82%	1.82%
Growth Rate	-3.37%	-2.37%	-1.37%
Year 1 PV (M)	26.97	27.25	27.52
Year 2 PV (M)	28.86	29.46	30.06
Year 3 PV (M)	30.49	31.44	32.42
Year 4 PV (M)	31.88	33.22	34.60
Year 5 PV (M)	33.04	34.79	36.61
PV of Terminal Value (M)	3,497.93	3,682.71	3,875.22
Equity Value (M)	3,649.16	3,838.86	4,036.43
Shares Outstanding (M)	361.89	361.89	361.89
Fair Value	$10.08	$10.61	$11.15
Upside / Downside	8.78%	14.43%	20.32%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 14 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
UVSP	Univest Financial Corporation	2.69%	$0.87	28.95%
VBTX	Veritex Holdings, Inc.	2.69%	$0.81	38.53%
CBT	Cabot Corporation	2.68%	$1.80	29.00%
PKOH	Park-Ohio Holdings Corp.	2.68%	$0.56	33.19%
WINA	Winmark Corporation	2.68%	$10.76	96.24%
CHCO	City Holding Company	2.67%	$3.20	36.27%
IDA	IDACORP, Inc.	2.67%	$3.40	58.98%
LFVN	LifeVantage Corporation	2.67%	$0.16	18.67%
MMM	3M Company	2.67%	$4.31	68.77%
MSEX	Middlesex Water Company	2.67%	$1.34	56.69%
ONB	Old National Bancorp	2.67%	$0.60	35.48%
0HQU.L	CF Industries Holdings, Inc.	2.66%	$2.07	24.22%
MGY	Magnolia Oil & Gas Corporation	2.66%	$0.60	32.28%
PEBK	Peoples Bancorp of North Carolina, Inc.	2.66%	$0.95	30.99%
GSBC	Great Southern Bancorp, Inc.	2.65%	$1.63	26.64%
HD	The Home Depot, Inc.	2.65%	$9.15	62.39%
MVBF	MVB Financial Corp.	2.65%	$0.68	27.31%
PPG	PPG Industries, Inc.	2.65%	$2.76	62.85%
TWMIX	American Century Emerging Markets Investor Class	2.64%	$0.40	76.80%
0M2A.L	Adeia Inc.	2.63%	$0.35	53.29%
ALLY	Ally Financial Inc.	2.63%	$1.20	59.56%
FRAF	Franklin Financial Services Corporation	2.63%	$1.28	36.88%
LEA	Lear Corporation	2.63%	$3.12	37.81%
VHI	Valhi, Inc.	2.63%	$0.32	49.46%
FHI	Federated Hermes, Inc.	2.62%	$1.37	27.23%
MKC	McCormick & Company, Incorporated	2.62%	$1.76	61.04%
SLB	SLB N.V.	2.62%	$1.05	42.94%
BAH	Booz Allen Hamilton Holding Corporation	2.61%	$2.22	33.15%
GILD	Gilead Sciences, Inc.	2.61%	$3.18	49.10%
AWR	American States Water Company	2.60%	$1.88	55.89%
CBAN	Colony Bankcorp, Inc.	2.59%	$0.46	28.75%
MDU	MDU Resources Group, Inc.	2.59%	$0.51	62.41%
PLBC	Plumas Bancorp	2.59%	$1.14	27.38%
CRD-A	Crawford & Company	2.58%	$0.28	43.18%
WBS	Webster Financial Corporation	2.57%	$1.64	29.21%
FANG	Diamondback Energy, Inc.	2.56%	$3.90	26.98%
JEF	Jefferies Financial Group Inc.	2.56%	$1.63	49.77%
UNH	UnitedHealth Group Incorporated	2.56%	$8.60	44.61%
DOX	Amdocs Limited	2.55%	$2.04	39.68%
DVN	Devon Energy Corporation	2.55%	$0.96	22.55%
TGNA	TEGNA Inc.	2.55%	$0.49	23.26%
CFFI	C&F Financial Corporation	2.54%	$1.80	22.24%
MTH	Meritage Homes Corporation	2.54%	$1.68	21.92%
DTM	DT Midstream, Inc.	2.52%	$3.04	77.42%
LEVI	Levi Strauss & Co.	2.52%	$0.52	34.78%
NFG	National Fuel Gas Company	2.52%	$2.07	36.34%
AMNB	American National Bankshares Inc.	2.51%	$1.20	48.76%
HIMYX	Pioneer High Income Municipal Fund Class Y	2.51%	$0.14	81.31%
ACNB	ACNB Corporation	2.50%	$1.18	37.66%
FMBH	First Mid Bancshares, Inc.	2.50%	$0.96	26.52%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Shanghai SK Petroleum & Chemical Equipment Corporation Ltd. (002278.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener