Definitive Analysis
| Stable Growth | $30,854.73 - $111,321.37 | $98,205.37 |
| Multi-Stage | $14,471.16 - $15,812.82 | $15,129.78 |
| Blended Fair Value | $56,667.57 | |
| Current Price | $4,120.00 | |
| Upside | 1,275.43% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.74% | 14.43% | 280.46 | 196.50 | 73.09 | 22.00 | 103.18 | 100.70 | 127.85 | 106.46 | 60.81 | 72.31 |
| YoY Growth | - | - | 42.73% | 168.84% | 232.23% | -78.68% | 2.46% | -21.23% | 20.09% | 75.07% | -15.91% | -0.76% |
| Dividend Yield | - | - | 6.61% | 3.48% | 1.56% | 0.53% | 3.60% | 5.27% | 2.72% | 2.45% | 1.88% | 2.78% |
| Net Income To Common (M) | 20,866,036.00 |
| (-) Cash Dividends Paid (M) | 13,951,339.00 |
| (=) Cash Retained (M) | 6,914,697.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,173,207.20 | 2,608,254.50 | 1,564,952.70 |
| Cash Retained (M) | 6,914,697.00 | 6,914,697.00 | 6,914,697.00 |
| (-) Cash Required (M) | -4,173,207.20 | -2,608,254.50 | -1,564,952.70 |
| (=) Excess Retained (M) | 2,741,489.80 | 4,306,442.50 | 5,349,744.30 |
| (/) Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| (=) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| LTM Dividend per Share | 374.26 | 374.26 | 374.26 |
| (+) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| (=) Adjusted Dividend | 447.80 | 489.79 | 517.77 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,854.73 | $98,205.37 | $111,321.37 |
| Upside / Downside | 648.90% | 2,283.63% | 2,601.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 20,866,036.00 | 22,222,328.34 | 23,666,779.68 | 25,205,120.36 | 26,843,453.18 | 28,588,277.64 | 29,445,925.97 |
| Payout Ratio | 66.86% | 71.49% | 76.12% | 80.74% | 85.37% | 90.00% | 92.50% |
| Projected Dividends (M) | 13,951,339.00 | 15,886,559.93 | 18,014,415.17 | 20,351,770.88 | 22,916,871.93 | 25,729,449.88 | 27,237,481.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 14,703,560.32 | 14,842,930.56 | 14,982,300.80 |
| Year 2 PV (M) | 15,431,404.38 | 15,725,329.29 | 16,022,027.07 |
| Year 3 PV (M) | 16,135,414.69 | 16,598,604.46 | 17,070,574.82 |
| Year 4 PV (M) | 16,816,124.21 | 17,462,824.89 | 18,128,001.36 |
| Year 5 PV (M) | 17,474,055.54 | 18,318,058.96 | 19,194,364.37 |
| PV of Terminal Value (M) | 458,881,687.43 | 481,045,844.51 | 504,058,276.06 |
| Equity Value (M) | 539,442,246.57 | 563,993,592.68 | 589,455,544.49 |
| Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| Fair Value | $14,471.16 | $15,129.78 | $15,812.82 |
| Upside / Downside | 251.24% | 267.23% | 283.81% |
| 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% |