DDM Analysis: 300113.SZ

Valuation Snapshot

Stable Growth	$19.90 - $100.77	$41.15
Multi-Stage	$47.78 - $52.77	$50.23
Blended Fair Value	$45.69
Current Price	$25.39
Upside	79.94%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-12.82%	0.75%	0.08	0.07	0.07	0.08	0.19	0.16	0.21	0.12	0.11	0.04
YoY Growth	-	-	14.29%	-1.62%	-11.87%	-57.34%	19.14%	-22.34%	68.40%	8.31%	162.07%	-42.37%
Dividend Yield	-	-	0.41%	0.57%	0.46%	0.63%	1.50%	0.75%	1.16%	0.54%	0.44%	0.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	363.47
(-) Cash Dividends Paid (M)	60.67
(=) Cash Retained (M)	302.80

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	72.69	45.43	27.26
Cash Retained (M)	302.80	302.80	302.80
(-) Cash Required (M)	-72.69	-45.43	-27.26
(=) Excess Retained (M)	230.10	257.36	275.54
(/) Shares Outstanding (M)	672.26	672.26	672.26
(=) Excess Retained per Share	0.34	0.38	0.41
LTM Dividend per Share	0.09	0.09	0.09
(+) Excess Retained per Share	0.34	0.38	0.41
(=) Adjusted Dividend	0.43	0.47	0.50
WACC / Discount Rate	0.90%	0.90%	0.90%
Growth Rate	-1.25%	-0.25%	0.75%
Fair Value	$19.90	$41.15	$100.77
Upside / Downside	-21.64%	62.06%	296.90%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	363.47	362.56	361.65	360.74	359.84	358.93	369.70
Payout Ratio	16.69%	31.35%	46.02%	60.68%	75.34%	90.00%	92.50%
Projected Dividends (M)	60.67	113.68	166.42	218.89	271.10	323.04	341.98

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	0.90%	0.90%	0.90%
Growth Rate	-1.25%	-0.25%	0.75%
Year 1 PV (M)	111.54	112.67	113.80
Year 2 PV (M)	160.21	163.47	166.77
Year 3 PV (M)	206.76	213.11	219.58
Year 4 PV (M)	251.26	261.59	272.24
Year 5 PV (M)	293.77	308.95	324.75
PV of Terminal Value (M)	31,098.88	32,705.74	34,378.34
Equity Value (M)	32,122.42	33,765.53	35,475.48
Shares Outstanding (M)	672.26	672.26	672.26
Fair Value	$47.78	$50.23	$52.77
Upside / Downside	88.20%	97.82%	107.84%

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

Mode

Ticker

Industry

Sector

Hangzhou Shunwang Technology Co,Ltd (300113.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener