DDM Analysis: 600389.SS

Valuation Snapshot

Stable Growth	$14.59 - $25.60	$19.27
Multi-Stage	$26.53 - $29.17	$27.83
Blended Fair Value	$23.55
Current Price	$26.10
Upside	-9.77%
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	-0.42%	2.26%	0.27	0.14	2.12	1.03	0.90	0.28	0.18	0.04	0.01	0.14
YoY Growth	-	-	90.19%	-93.32%	105.63%	14.50%	227.50%	53.85%	390.57%	165.00%	-90.32%	-34.04%
Dividend Yield	-	-	1.80%	1.06%	7.73%	3.27%	5.99%	2.06%	1.38%	0.29%	0.11%	1.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	478.08
(-) Cash Dividends Paid (M)	162.89
(=) Cash Retained (M)	315.19

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	95.62	59.76	35.86
Cash Retained (M)	315.19	315.19	315.19
(-) Cash Required (M)	-95.62	-59.76	-35.86
(=) Excess Retained (M)	219.58	255.43	279.34
(/) Shares Outstanding (M)	431.20	431.20	431.20
(=) Excess Retained per Share	0.51	0.59	0.65
LTM Dividend per Share	0.38	0.38	0.38
(+) Excess Retained per Share	0.51	0.59	0.65
(=) Adjusted Dividend	0.89	0.97	1.03
WACC / Discount Rate	6.35%	6.35%	6.35%
Growth Rate	0.26%	1.26%	2.26%
Fair Value	$14.59	$19.27	$25.60
Upside / Downside	-44.11%	-26.15%	-1.91%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	478.08	484.10	490.19	496.35	502.60	508.92	524.19
Payout Ratio	34.07%	45.26%	56.44%	67.63%	78.81%	90.00%	92.50%
Projected Dividends (M)	162.89	219.09	276.68	335.68	396.12	458.03	484.88

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.35%	6.35%	6.35%
Growth Rate	0.26%	1.26%	2.26%
Year 1 PV (M)	203.96	206.00	208.03
Year 2 PV (M)	239.79	244.60	249.46
Year 3 PV (M)	270.85	279.03	287.38
Year 4 PV (M)	297.55	309.60	322.01
Year 5 PV (M)	320.30	336.60	353.55
PV of Terminal Value (M)	10,108.26	10,622.53	11,157.52
Equity Value (M)	11,440.72	11,998.37	12,577.96
Shares Outstanding (M)	431.20	431.20	431.20
Fair Value	$26.53	$27.83	$29.17
Upside / Downside	1.66%	6.61%	11.76%

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

Nantong Jiangshan Agrochemical & Chemicals Co.,Ltd. (600389.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener