DDM Analysis: 002299.SZ

Valuation Snapshot

Stable Growth	$30.26 - $90.42	$47.93
Multi-Stage	$33.65 - $36.91	$35.25
Blended Fair Value	$41.59
Current Price	$18.03
Upside	130.65%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-14.21%	8.45%	0.47	0.20	0.30	1.11	2.51	1.00	0.18	0.45	0.21	0.25
YoY Growth	-	-	132.33%	-33.26%	-72.86%	-55.89%	150.40%	465.67%	-60.55%	116.84%	-16.20%	19.37%
Dividend Yield	-	-	3.10%	1.21%	1.22%	5.58%	9.74%	4.24%	0.68%	3.24%	1.11%	0.92%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,500.47
(-) Cash Dividends Paid (M)	595.58
(=) Cash Retained (M)	904.89

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	300.09	187.56	112.54
Cash Retained (M)	904.89	904.89	904.89
(-) Cash Required (M)	-300.09	-187.56	-112.54
(=) Excess Retained (M)	604.80	717.33	792.36
(/) Shares Outstanding (M)	1,237.32	1,237.32	1,237.32
(=) Excess Retained per Share	0.49	0.58	0.64
LTM Dividend per Share	0.48	0.48	0.48
(+) Excess Retained per Share	0.49	0.58	0.64
(=) Adjusted Dividend	0.97	1.06	1.12
WACC / Discount Rate	6.31%	6.31%	6.31%
Growth Rate	3.01%	4.01%	5.01%
Fair Value	$30.26	$47.93	$90.42
Upside / Downside	67.81%	165.81%	401.48%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,500.47	1,560.57	1,623.08	1,688.10	1,755.71	1,826.04	1,880.82
Payout Ratio	39.69%	49.75%	59.82%	69.88%	79.94%	90.00%	92.50%
Projected Dividends (M)	595.58	776.45	970.86	1,179.59	1,403.49	1,643.44	1,739.76

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.31%	6.31%	6.31%
Growth Rate	3.01%	4.01%	5.01%
Year 1 PV (M)	723.36	730.38	737.40
Year 2 PV (M)	842.62	859.06	875.66
Year 3 PV (M)	953.77	981.82	1,010.41
Year 4 PV (M)	1,057.20	1,098.86	1,141.74
Year 5 PV (M)	1,153.29	1,210.37	1,269.69
PV of Terminal Value (M)	36,904.22	38,730.71	40,628.81
Equity Value (M)	41,634.46	43,611.20	45,663.71
Shares Outstanding (M)	1,237.32	1,237.32	1,237.32
Fair Value	$33.65	$35.25	$36.91
Upside / Downside	86.63%	95.49%	104.69%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 15 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
0R28.L	Newmont Corporation	2.49%	$1.01	15.53%
ETR	Entergy Corporation	2.49%	$2.34	57.35%
NKE	NIKE, Inc.	2.49%	$1.58	80.59%
OTTR	Otter Tail Corporation	2.49%	$2.03	30.69%
FHN	First Horizon Corporation	2.48%	$0.60	34.42%
PWP	Perella Weinberg Partners	2.48%	$0.44	69.65%
SCS	Steelcase Inc.	2.48%	$0.40	50.05%
PBI	Pitney Bowes Inc.	2.46%	$0.25	61.37%
RBCAA	Republic Bancorp, Inc.	2.45%	$1.67	25.85%
SRCE	1st Source Corporation	2.45%	$1.53	25.20%
TRMK	Trustmark Corporation	2.45%	$0.96	26.11%
VOYA	Voya Financial, Inc.	2.45%	$1.86	29.46%
AWK	American Water Works Company, Inc.	2.44%	$3.18	55.85%
LSTR	Landstar System, Inc.	2.44%	$3.58	90.21%
NGL	NGL Energy Partners LP	2.44%	$0.24	24.52%
TCFC	The Community Financial Corporation	2.44%	$0.66	12.72%
CADE	Cadence Bank	2.43%	$1.05	37.49%
JNJ	Johnson & Johnson	2.43%	$5.04	48.70%
MBCN	Middlefield Banc Corp.	2.43%	$0.83	42.36%
0L7G.L	Snap-on Incorporated	2.42%	$8.43	44.15%
ITW	Illinois Tool Works Inc.	2.42%	$6.04	58.20%
MOFG	MidWestOne Financial Group, Inc.	2.40%	$0.92	32.44%
FFIN	First Financial Bankshares, Inc.	2.39%	$0.72	42.45%
ADP	Automatic Data Processing, Inc.	2.38%	$6.03	59.30%
CAL	Caleres, Inc.	2.38%	$0.29	46.21%
ABM	ABM Industries Incorporated	2.37%	$1.01	54.79%
FUNC	First United Corporation	2.36%	$0.88	22.87%
HON	Honeywell International Inc.	2.36%	$4.63	48.21%
RILYK	B. Riley Financial, Inc. 5.50% Senior Notes Due 2026	2.36%	$0.58	56.91%
CDW	CDW Corporation	2.35%	$3.14	39.31%
CHMG	Chemung Financial Corporation	2.35%	$1.28	46.47%
LZB	La-Z-Boy Incorporated	2.35%	$0.88	40.20%
PKG	Packaging Corporation of America	2.35%	$4.97	50.31%
UNP	Union Pacific Corporation	2.35%	$5.44	45.77%
0K91.L	Northern Trust Corporation	2.34%	$3.20	35.68%
MCD	McDonald's Corporation	2.33%	$7.07	60.14%
MGEE	MGE Energy, Inc.	2.32%	$1.82	49.49%
MZTI	The Marzetti Company	2.32%	$3.82	61.80%
UNM	Unum Group	2.32%	$1.79	33.52%
RILYM	B. Riley Financial, Inc. - 6.37	2.31%	$0.58	56.91%
RILYO	B. Riley Financial, Inc. - 6.75	2.31%	$0.58	56.91%
HONIV	Honeywell International Inc. Common Stock Ex Distribution When Issued	2.30%	$4.63	48.21%
PGR	The Progressive Corporation	2.30%	$4.88	26.80%
WNEB	Western New England Bancorp, Inc.	2.30%	$0.28	43.00%
0R23.L	Halliburton Company	2.29%	$0.68	44.61%
ADS	Bread Financial Holdings, Inc.	2.29%	$1.30	21.08%
HLNE	Hamilton Lane Incorporated	2.29%	$3.13	74.09%
BSVN	Bank7 Corp.	2.28%	$0.94	20.81%
MCBC	Macatawa Bank Corporation	2.28%	$0.34	28.37%
BRKL	Brookline Bancorp, Inc.	2.27%	$0.54	61.06%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

Fujian Sunner Development Co., Ltd. (002299.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener