DDM Analysis: 0133.HK

Valuation Snapshot

Stable Growth	$14.07 - $22.59	$17.92
Multi-Stage	$24.43 - $26.88	$25.63
Blended Fair Value	$21.78
Current Price	$1.88
Upside	1,058.41%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	11.38%	7.18%	0.12	0.07	0.14	0.08	0.07	0.07	0.11	0.06	0.06	0.06
YoY Growth	-	-	71.43%	-50.00%	75.00%	14.29%	0.00%	-36.36%	83.33%	0.00%	0.00%	0.00%
Dividend Yield	-	-	6.63%	7.14%	13.33%	6.67%	5.83%	5.34%	9.09%	3.61%	4.03%	3.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	202.85
(-) Cash Dividends Paid (M)	28.94
(=) Cash Retained (M)	173.90

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	40.57	25.36	15.21
Cash Retained (M)	173.90	173.90	173.90
(-) Cash Required (M)	-40.57	-25.36	-15.21
(=) Excess Retained (M)	133.33	148.55	158.69
(/) Shares Outstanding (M)	152.33	152.33	152.33
(=) Excess Retained per Share	0.88	0.98	1.04
LTM Dividend per Share	0.19	0.19	0.19
(+) Excess Retained per Share	0.88	0.98	1.04
(=) Adjusted Dividend	1.07	1.17	1.23
WACC / Discount Rate	7.13%	7.13%	7.13%
Growth Rate	-0.41%	0.59%	1.59%
Fair Value	$14.07	$17.92	$22.59
Upside / Downside	648.53%	853.39%	1,101.66%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	202.85	204.04	205.24	206.45	207.67	208.89	215.15
Payout Ratio	14.27%	29.41%	44.56%	59.71%	74.85%	90.00%	92.50%
Projected Dividends (M)	28.94	60.02	91.46	123.27	155.45	188.00	199.02

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.13%	7.13%	7.13%
Growth Rate	-0.41%	0.59%	1.59%
Year 1 PV (M)	55.47	56.03	56.58
Year 2 PV (M)	78.12	79.69	81.29
Year 3 PV (M)	97.30	100.26	103.28
Year 4 PV (M)	113.40	118.02	122.79
Year 5 PV (M)	126.75	133.25	140.00
PV of Terminal Value (M)	3,250.88	3,417.41	3,590.69
Equity Value (M)	3,721.92	3,904.66	4,094.63
Shares Outstanding (M)	152.33	152.33	152.33
Fair Value	$24.43	$25.63	$26.88
Upside / Downside	1,199.62%	1,263.43%	1,329.76%

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

China Merchants China Direct Investments Limited (0133.HK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener