Definitive Analysis
| Stable Growth | $957,746.88 - $3,949,959.84 | $2,466,917.20 |
| Multi-Stage | $473,122.34 - $517,560.08 | $494,934.55 |
| Blended Fair Value | $1,480,925.87 | |
| Current Price | $100,700.00 | |
| Upside | 1,370.63% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 43.48% | 22.71% | 5,567.30 | 3,560.33 | 3,051.71 | 1,017.24 | 1,169.82 | 915.51 | 813.79 | 1,118.96 | 1,118.96 | 1,025.17 |
| YoY Growth | - | - | 56.37% | 16.67% | 200.00% | -13.04% | 27.78% | 12.50% | -27.27% | 0.00% | 9.15% | 42.53% |
| Dividend Yield | - | - | 6.03% | 3.28% | 3.77% | 1.37% | 1.41% | 3.52% | 2.30% | 3.61% | 3.02% | 2.12% |
| Net Income To Common (M) | 7,828,160.00 |
| (-) Cash Dividends Paid (M) | 2,559,045.00 |
| (=) Cash Retained (M) | 5,269,115.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,565,632.00 | 978,520.00 | 587,112.00 |
| Cash Retained (M) | 5,269,115.00 | 5,269,115.00 | 5,269,115.00 |
| (-) Cash Required (M) | -1,565,632.00 | -978,520.00 | -587,112.00 |
| (=) Excess Retained (M) | 3,703,483.00 | 4,290,595.00 | 4,682,003.00 |
| (/) Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| (=) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| LTM Dividend per Share | 6,492.78 | 6,492.78 | 6,492.78 |
| (+) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| (=) Adjusted Dividend | 15,889.22 | 17,378.83 | 18,371.91 |
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $957,746.88 | $2,466,917.20 | $3,949,959.84 |
| Upside / Downside | 851.09% | 2,349.77% | 3,822.50% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,828,160.00 | 8,336,990.40 | 8,878,894.78 | 9,456,022.94 | 10,070,664.43 | 10,725,257.62 | 11,047,015.34 |
| Payout Ratio | 32.69% | 44.15% | 55.61% | 67.08% | 78.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,559,045.00 | 3,680,964.61 | 4,937,921.81 | 6,342,731.36 | 7,909,303.44 | 9,652,731.85 | 10,218,489.19 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,399,899.77 | 3,432,126.31 | 3,464,352.85 |
| Year 2 PV (M) | 4,212,628.41 | 4,292,867.15 | 4,373,862.85 |
| Year 3 PV (M) | 4,997,924.98 | 5,141,397.45 | 5,287,589.69 |
| Year 4 PV (M) | 5,756,468.40 | 5,977,845.92 | 6,205,548.05 |
| Year 5 PV (M) | 6,488,922.70 | 6,802,340.09 | 7,127,752.70 |
| PV of Terminal Value (M) | 161,619,174.02 | 169,425,440.55 | 177,530,471.29 |
| Equity Value (M) | 186,475,018.27 | 195,072,017.47 | 203,989,577.43 |
| Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| Fair Value | $473,122.34 | $494,934.55 | $517,560.08 |
| Upside / Downside | 369.83% | 391.49% | 413.96% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 1908.HK | C&D International Investment Group Limited | 7.31% | $1.12 | 25.81% |
| 2529.HK | Hollwin Urban Operation Service Group Co., Ltd | 7.31% | $0.22 | 24.64% |
| BMOB3.SA | Bemobi Mobile Tech S.A. | 7.31% | $1.61 | 92.50% |
| CAMB3.SA | Cambuci S.A. | 7.30% | $0.72 | 45.75% |
| CIP.AX | Centuria Industrial REIT | 7.30% | $0.24 | 84.35% |
| NEO.BK | Neo Corporate PCL | 7.30% | $1.35 | 50.11% |
| QTC.BK | QTC Energy Public Company Limited | 7.30% | $0.25 | 97.23% |
| WHATS.BR | What's Cooking Group NV/SA | 7.29% | $8.20 | 32.94% |
| C5H.IR | Cairn Homes plc | 7.28% | $0.15 | 44.15% |
| DOHI.QA | Doha Insurance Group Q.P.S.C. | 7.28% | $0.19 | 46.40% |
| STRN.SW | Schlatter Industries AG | 7.28% | $1.50 | 52.09% |
| HDN.AX | HomeCo Daily Needs REIT | 7.27% | $0.10 | 62.96% |
| IPCM.JK | PT Jasa Armada Indonesia Tbk | 7.27% | $26.19 | 77.38% |
| O39.SI | Oversea-Chinese Banking Corporation Limited | 7.27% | $1.44 | 49.91% |
| THIP.BK | Thantawan Industry Public Company Limited | 7.27% | $1.64 | 50.43% |
| C6L.SI | Singapore Airlines Limited | 7.26% | $0.47 | 45.79% |
| SAPPE.BK | Sappe Public Company Limited | 7.26% | $2.23 | 82.18% |
| QIP.AX | QANTM Intellectual Property Limited | 7.25% | $0.13 | 92.42% |
| KUOA.MX | Grupo KUO, S.A.B. de C.V. | 7.24% | $4.34 | 64.64% |
| OYY.SI | PropNex Limited | 7.24% | $0.14 | 93.41% |
| 7035.KL | CCK Consolidated Holdings Berhad | 7.23% | $0.09 | 76.61% |
| SOGN.OL | Sogn Sparebank | 7.22% | $20.00 | 11.36% |
| 0QN6.L | SF Urban Properties AG | 7.21% | $7.25 | 63.89% |
| WBC.AX | Westpac Banking Corporation | 7.21% | $2.81 | 74.44% |
| 120110.KS | Kolon Industries, Inc. | 7.20% | $3,060.76 | 98.52% |
| MILS3.SA | Mills Locação, Serviços e Logística S.A. | 7.20% | $1.01 | 81.51% |
| UZU.DE | Uzin Utz AG | 7.20% | $5.11 | 46.82% |
| 3296.T | NIPPON REIT Investment Corporation | 7.19% | $7,108.47 | 63.73% |
| 600035.SS | Hubei Chutian Smart Communication Co.,Ltd. | 7.19% | $0.28 | 66.74% |
| 036460.KS | Korea Gas Corporation | 7.17% | $2,752.50 | 29.13% |
| HABITAT.SN | Administradora de Fondos de Pensiones Habitat S.A. | 7.17% | $110.00 | 70.97% |
| ITUB3.SA | Itaú Unibanco Holding S.A. | 7.17% | $2.60 | 64.54% |
| SAMF.JK | PT Saraswanti Anugerah Makmur, Tbk | 7.17% | $22.22 | 85.61% |
| 0HM0.L | VGP N.V. | 7.16% | $7.00 | 36.73% |
| VLS.AX | Vita Life Sciences Limited | 7.16% | $0.18 | 55.52% |
| CRBN.AS | Corbion N.V. | 7.15% | $1.34 | 55.86% |
| 0586.HK | China Conch Venture Holdings Limited | 7.14% | $0.69 | 29.51% |
| 600011.SS | Huaneng Power International, Inc. | 7.14% | $0.53 | 57.39% |
| IFII.JK | PT Indonesia Fibreboard Industry Tbk | 7.14% | $16.00 | 70.24% |
| UNTR.JK | PT United Tractors Tbk | 7.14% | $2,150.12 | 50.66% |
| 4987.TWO | Godex International Co., Ltd | 7.12% | $5.18 | 85.38% |
| 2328.HK | PICC Property and Casualty Company Limited | 7.11% | $1.18 | 42.87% |
| CXSE3.SA | Caixa Seguridade Participações S.A. | 7.11% | $1.18 | 80.41% |
| PUB.PA | Publicis Groupe S.A. | 7.11% | $6.23 | 49.76% |
| 600057.SS | Xiamen Xiangyu Co., Ltd. | 7.10% | $0.61 | 77.47% |
| MYPK3.SA | Iochpe-Maxion S.A. | 7.09% | $0.70 | 51.81% |
| PRM-R.BK | Prima Marine Public Company Limited | 7.09% | $0.49 | 49.90% |
| 601187.SS | Xiamen Bank Co., Ltd. | 7.08% | $0.52 | 52.74% |
| 014130.KS | Hanexpress.Co., Ltd | 7.07% | $213.25 | 20.61% |
| 0NY3.L | STEF S.a. | 7.07% | $9.19 | 44.77% |