DDM Analysis: 002117.SZ

Valuation Snapshot

Stable Growth	$2.18 - $3.03	$2.60
Multi-Stage	$6.52 - $7.20	$6.85
Blended Fair Value	$4.73
Current Price	$11.48
Upside	-58.81%
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	-8.42%	10.46%	0.31	0.23	0.32	0.42	0.42	0.49	0.28	0.21	0.21	0.21
YoY Growth	-	-	36.75%	-27.56%	-24.19%	0.00%	-14.23%	75.00%	33.33%	0.00%	-0.01%	79.94%
Dividend Yield	-	-	2.33%	2.70%	3.22%	4.92%	5.13%	4.46%	1.92%	1.99%	1.04%	0.97%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	200.72
(-) Cash Dividends Paid (M)	136.27
(=) Cash Retained (M)	64.44

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	40.14	25.09	15.05
Cash Retained (M)	64.44	64.44	64.44
(-) Cash Required (M)	-40.14	-25.09	-15.05
(=) Excess Retained (M)	24.30	39.35	49.39
(/) Shares Outstanding (M)	524.95	524.95	524.95
(=) Excess Retained per Share	0.05	0.07	0.09
LTM Dividend per Share	0.26	0.26	0.26
(+) Excess Retained per Share	0.05	0.07	0.09
(=) Adjusted Dividend	0.31	0.33	0.35
WACC / Discount Rate	6.45%	6.45%	6.45%
Growth Rate	-6.67%	-5.67%	-4.67%
Fair Value	$2.18	$2.60	$3.03
Upside / Downside	-81.04%	-77.31%	-73.58%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	200.72	189.34	178.61	168.48	158.93	149.92	154.42
Payout Ratio	67.89%	72.31%	76.74%	81.16%	85.58%	90.00%	92.50%
Projected Dividends (M)	136.27	136.92	137.05	136.74	136.01	134.93	142.84

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.45%	6.45%	6.45%
Growth Rate	-6.67%	-5.67%	-4.67%
Year 1 PV (M)	127.26	128.62	129.99
Year 2 PV (M)	118.40	120.95	123.53
Year 3 PV (M)	109.79	113.36	117.00
Year 4 PV (M)	101.51	105.93	110.49
Year 5 PV (M)	93.60	98.72	104.06
PV of Terminal Value (M)	2,872.77	3,030.00	3,194.05
Equity Value (M)	3,423.33	3,597.59	3,779.12
Shares Outstanding (M)	524.95	524.95	524.95
Fair Value	$6.52	$6.85	$7.20
Upside / Downside	-43.19%	-40.30%	-37.29%

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%

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Tungkong Inc. (002117.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener