DDM Analysis: 601127.SS

Valuation Snapshot

Stable Growth	$36.08 - $51.94	$43.81
Multi-Stage	$31.47 - $34.15	$32.79
Blended Fair Value	$38.30
Current Price	$171.57
Upside	-77.68%
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	7.90%	12.31%	0.40	0.16	0.18	0.16	0.21	0.27	0.29	0.26	0.00	0.07
YoY Growth	-	-	150.41%	-11.17%	9.24%	-22.76%	-22.05%	-7.37%	12.38%	0.00%	-100.00%	-46.43%
Dividend Yield	-	-	0.32%	0.18%	0.47%	0.38%	0.91%	3.39%	1.75%	1.38%	0.00%	0.80%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	7,220.37
(-) Cash Dividends Paid (M)	2,200.27
(=) Cash Retained (M)	5,020.10

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,444.07	902.55	541.53
Cash Retained (M)	5,020.10	5,020.10	5,020.10
(-) Cash Required (M)	-1,444.07	-902.55	-541.53
(=) Excess Retained (M)	3,576.03	4,117.55	4,478.57
(/) Shares Outstanding (M)	1,533.47	1,533.47	1,533.47
(=) Excess Retained per Share	2.33	2.69	2.92
LTM Dividend per Share	1.43	1.43	1.43
(+) Excess Retained per Share	2.33	2.69	2.92
(=) Adjusted Dividend	3.77	4.12	4.36
WACC / Discount Rate	16.51%	16.51%	16.51%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$36.08	$43.81	$51.94
Upside / Downside	-78.97%	-74.46%	-69.73%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	7,220.37	7,689.69	8,189.52	8,721.84	9,288.76	9,892.53	10,189.31
Payout Ratio	30.47%	42.38%	54.28%	66.19%	78.09%	90.00%	92.50%
Projected Dividends (M)	2,200.27	3,258.77	4,445.59	5,772.92	7,254.02	8,903.28	9,425.11

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	16.51%	16.51%	16.51%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	2,770.61	2,796.87	2,823.14
Year 2 PV (M)	3,213.46	3,274.66	3,336.45
Year 3 PV (M)	3,547.81	3,649.65	3,753.43
Year 4 PV (M)	3,790.23	3,935.99	4,085.91
Year 5 PV (M)	3,955.10	4,146.13	4,344.48
PV of Terminal Value (M)	30,980.06	32,476.41	34,030.03
Equity Value (M)	48,257.27	50,279.72	52,373.43
Shares Outstanding (M)	1,533.47	1,533.47	1,533.47
Fair Value	$31.47	$32.79	$34.15
Upside / Downside	-81.66%	-80.89%	-80.09%

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

Seres Group Co.,Ltd. (601127.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener