DDM Analysis: 8985.T

Valuation Snapshot

Stable Growth	$173,617.06 - $425,222.95	$258,878.45
Multi-Stage	$163,688.54 - $179,390.95	$171,393.41
Blended Fair Value	$215,135.93
Current Price	$76,100.00
Upside	182.70%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-2.18%	10.65%	2,871.52	625.87	335.94	376.69	3,382.82	3,205.93	3,034.58	2,642.95	1,921.75	1,235.82
YoY Growth	-	-	358.81%	86.30%	-10.82%	-88.86%	5.52%	5.65%	14.82%	37.53%	55.50%	18.40%
Dividend Yield	-	-	4.07%	0.90%	0.43%	0.67%	6.38%	3.95%	3.87%	3.50%	2.44%	1.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	39,274.15
(-) Cash Dividends Paid (M)	6,987.86
(=) Cash Retained (M)	32,286.29

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	7,854.83	4,909.27	2,945.56
Cash Retained (M)	32,286.29	32,286.29	32,286.29
(-) Cash Required (M)	-7,854.83	-4,909.27	-2,945.56
(=) Excess Retained (M)	24,431.46	27,377.02	29,340.73
(/) Shares Outstanding (M)	4.87	4.87	4.87
(=) Excess Retained per Share	5,020.78	5,626.11	6,029.66
LTM Dividend per Share	1,436.04	1,436.04	1,436.04
(+) Excess Retained per Share	5,020.78	5,626.11	6,029.66
(=) Adjusted Dividend	6,456.82	7,062.15	7,465.70
WACC / Discount Rate	7.51%	7.51%	7.51%
Growth Rate	3.66%	4.66%	5.66%
Fair Value	$173,617.06	$258,878.45	$425,222.95
Upside / Downside	128.14%	240.18%	458.77%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	39,274.15	41,103.75	43,018.59	45,022.62	47,120.02	49,315.13	50,794.58
Payout Ratio	17.79%	32.23%	46.68%	61.12%	75.56%	90.00%	92.50%
Projected Dividends (M)	6,987.86	13,249.39	20,079.14	27,516.48	35,603.18	44,383.61	46,984.99

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.51%	7.51%	7.51%
Growth Rate	3.66%	4.66%	5.66%
Year 1 PV (M)	12,205.70	12,323.45	12,441.20
Year 2 PV (M)	17,040.38	17,370.74	17,704.28
Year 3 PV (M)	21,512.65	22,141.27	22,782.03
Year 4 PV (M)	25,642.29	26,646.19	27,679.29
Year 5 PV (M)	29,448.13	30,896.24	32,400.76
PV of Terminal Value (M)	690,670.41	724,634.10	759,920.98
Equity Value (M)	796,519.55	834,012.00	872,928.54
Shares Outstanding (M)	4.87	4.87	4.87
Fair Value	$163,688.54	$171,393.41	$179,390.95
Upside / Downside	115.10%	125.22%	135.73%

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

Japan Hotel REIT Investment Corporation (8985.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener