DDM Analysis: 002223.SZ

Valuation Snapshot

Stable Growth	$91.48 - $347.14	$266.49
Multi-Stage	$43.54 - $47.61	$45.54
Blended Fair Value	$156.02
Current Price	$39.01
Upside	299.94%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	50.37%	36.85%	1.23	0.66	0.35	0.32	0.42	0.16	0.16	0.27	0.24	0.01
YoY Growth	-	-	85.36%	88.30%	10.02%	-23.20%	160.68%	2.21%	-42.68%	13.05%	2,228.46%	-80.58%
Dividend Yield	-	-	3.52%	1.94%	1.11%	1.15%	1.59%	0.44%	0.59%	1.11%	1.13%	0.05%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,740.15
(-) Cash Dividends Paid (M)	807.77
(=) Cash Retained (M)	932.38

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	348.03	217.52	130.51
Cash Retained (M)	932.38	932.38	932.38
(-) Cash Required (M)	-348.03	-217.52	-130.51
(=) Excess Retained (M)	584.35	714.86	801.87
(/) Shares Outstanding (M)	996.92	996.92	996.92
(=) Excess Retained per Share	0.59	0.72	0.80
LTM Dividend per Share	0.81	0.81	0.81
(+) Excess Retained per Share	0.59	0.72	0.80
(=) Adjusted Dividend	1.40	1.53	1.61
WACC / Discount Rate	7.11%	7.11%	7.11%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$91.48	$266.49	$347.14
Upside / Downside	134.51%	583.14%	789.88%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,740.15	1,853.26	1,973.72	2,102.01	2,238.65	2,384.16	2,455.68
Payout Ratio	46.42%	55.14%	63.85%	72.57%	81.28%	90.00%	92.50%
Projected Dividends (M)	807.77	1,021.81	1,260.26	1,525.39	1,819.66	2,145.74	2,271.51

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.11%	7.11%	7.11%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	945.02	953.98	962.93
Year 2 PV (M)	1,077.96	1,098.49	1,119.22
Year 3 PV (M)	1,206.68	1,241.32	1,276.62
Year 4 PV (M)	1,331.30	1,382.50	1,435.16
Year 5 PV (M)	1,451.89	1,522.02	1,594.83
PV of Terminal Value (M)	37,392.88	39,198.97	41,074.18
Equity Value (M)	43,405.73	45,397.27	47,462.93
Shares Outstanding (M)	996.92	996.92	996.92
Fair Value	$43.54	$45.54	$47.61
Upside / Downside	11.61%	16.73%	22.04%

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

Ticker

Industry

Sector

Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. (002223.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener