DDM Analysis: 688003.SS

Valuation Snapshot

Stable Growth	$17.22 - $56.06	$27.92
Multi-Stage	$11.00 - $12.03	$11.51
Blended Fair Value	$19.72
Current Price	$58.06
Upside	-66.04%
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	0.00%	36.89%	0.68	0.37	0.44	0.70	0.20	0.00	0.11	0.11	0.07	0.18
YoY Growth	-	-	82.27%	-14.70%	-37.97%	250.05%	0.00%	-100.00%	2.93%	53.71%	-61.09%	525.27%
Dividend Yield	-	-	1.32%	0.99%	1.05%	2.45%	0.69%	0.00%	0.24%	0.23%	0.15%	0.39%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	123.19
(-) Cash Dividends Paid (M)	10.84
(=) Cash Retained (M)	112.35

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	24.64	15.40	9.24
Cash Retained (M)	112.35	112.35	112.35
(-) Cash Required (M)	-24.64	-15.40	-9.24
(=) Excess Retained (M)	87.71	96.95	103.11
(/) Shares Outstanding (M)	192.59	192.59	192.59
(=) Excess Retained per Share	0.46	0.50	0.54
LTM Dividend per Share	0.06	0.06	0.06
(+) Excess Retained per Share	0.46	0.50	0.54
(=) Adjusted Dividend	0.51	0.56	0.59
WACC / Discount Rate	8.63%	8.63%	8.63%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$17.22	$27.92	$56.06
Upside / Downside	-70.34%	-51.90%	-3.44%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	123.19	131.20	139.72	148.81	158.48	168.78	173.84
Payout Ratio	8.80%	25.04%	41.28%	57.52%	73.76%	90.00%	92.50%
Projected Dividends (M)	10.84	32.85	57.68	85.59	116.89	151.90	160.81

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.63%	8.63%	8.63%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	29.95	30.24	30.52
Year 2 PV (M)	47.96	48.87	49.79
Year 3 PV (M)	64.90	66.76	68.66
Year 4 PV (M)	80.82	83.93	87.13
Year 5 PV (M)	95.77	100.40	105.20
PV of Terminal Value (M)	1,799.36	1,886.27	1,976.50
Equity Value (M)	2,118.76	2,216.47	2,317.81
Shares Outstanding (M)	192.59	192.59	192.59
Fair Value	$11.00	$11.51	$12.03
Upside / Downside	-81.05%	-80.18%	-79.27%

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

Suzhou TZTEK Technology Co., Ltd (688003.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener