DDM Analysis: 688621.SS

Valuation Snapshot

Stable Growth	$203.93 - $240.26	$225.16
Multi-Stage	$56.01 - $61.41	$58.66
Blended Fair Value	$141.91
Current Price	$66.04
Upside	114.89%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017
DPS	162.48%	0.00%	0.35	0.50	0.25	0.01	0.01	0.00	0.01	0.00	0.00	0.00
YoY Growth	-	-	-31.27%	105.76%	2,062.44%	16.46%	249.85%	-71.10%	108.80%	0.00%	0.00%	0.00%
Dividend Yield	-	-	0.78%	0.82%	0.31%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	133.01
(-) Cash Dividends Paid (M)	32.63
(=) Cash Retained (M)	100.38

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	26.60	16.63	9.98
Cash Retained (M)	100.38	100.38	100.38
(-) Cash Required (M)	-26.60	-16.63	-9.98
(=) Excess Retained (M)	73.78	83.75	90.40
(/) Shares Outstanding (M)	110.09	110.09	110.09
(=) Excess Retained per Share	0.67	0.76	0.82
LTM Dividend per Share	0.30	0.30	0.30
(+) Excess Retained per Share	0.67	0.76	0.82
(=) Adjusted Dividend	0.97	1.06	1.12
WACC / Discount Rate	5.24%	5.24%	5.24%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$203.93	$225.16	$240.26
Upside / Downside	208.80%	240.95%	263.82%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	133.01	141.65	150.86	160.67	171.11	182.23	187.70
Payout Ratio	24.53%	37.63%	50.72%	63.81%	76.91%	90.00%	92.50%
Projected Dividends (M)	32.63	53.30	76.52	102.53	131.59	164.01	173.62

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	5.24%	5.24%	5.24%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	50.17	50.65	51.12
Year 2 PV (M)	67.80	69.09	70.39
Year 3 PV (M)	85.52	87.97	90.47
Year 4 PV (M)	103.32	107.29	111.38
Year 5 PV (M)	121.22	127.07	133.15
PV of Terminal Value (M)	5,738.90	6,016.09	6,303.89
Equity Value (M)	6,166.92	6,458.16	6,760.40
Shares Outstanding (M)	110.09	110.09	110.09
Fair Value	$56.01	$58.66	$61.41
Upside / Downside	-15.18%	-11.17%	-7.02%

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

Beijing Sun-Novo Pharmaceutical Research Co., Ltd. (688621.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener