DDM Analysis: 002593.SZ

Valuation Snapshot

Stable Growth	$1.34 - $2.15	$1.70
Multi-Stage	$2.81 - $3.09	$2.95
Blended Fair Value	$2.32
Current Price	$5.12
Upside	-54.61%
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	-0.92%	0.53%	0.10	0.05	0.10	0.10	0.10	0.10	0.10	0.10	0.03	0.09
YoY Growth	-	-	95.20%	-49.18%	3.95%	-3.83%	-3.72%	1.92%	2.29%	229.95%	-67.17%	-2.25%
Dividend Yield	-	-	2.01%	1.43%	2.70%	2.72%	2.83%	2.95%	2.47%	2.53%	0.45%	1.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	99.11
(-) Cash Dividends Paid (M)	80.55
(=) Cash Retained (M)	18.56

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	19.82	12.39	7.43
Cash Retained (M)	18.56	18.56	18.56
(-) Cash Required (M)	-19.82	-12.39	-7.43
(=) Excess Retained (M)	-1.26	6.17	11.13
(/) Shares Outstanding (M)	781.10	781.10	781.10
(=) Excess Retained per Share	0.00	0.01	0.01
LTM Dividend per Share	0.10	0.10	0.10
(+) Excess Retained per Share	0.00	0.01	0.01
(=) Adjusted Dividend	0.10	0.11	0.12
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	-0.99%	0.01%	1.01%
Fair Value	$1.34	$1.70	$2.15
Upside / Downside	-73.91%	-66.76%	-58.08%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	99.11	99.12	99.14	99.15	99.17	99.18	102.15
Payout Ratio	81.27%	83.02%	84.76%	86.51%	88.25%	90.00%	92.50%
Projected Dividends (M)	80.55	82.29	84.03	85.78	87.52	89.26	94.49

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	-0.99%	0.01%	1.01%
Year 1 PV (M)	76.47	77.24	78.01
Year 2 PV (M)	72.56	74.04	75.52
Year 3 PV (M)	68.83	70.93	73.08
Year 4 PV (M)	65.26	67.93	70.69
Year 5 PV (M)	61.85	65.04	68.35
PV of Terminal Value (M)	1,850.76	1,946.12	2,045.38
Equity Value (M)	2,195.72	2,301.30	2,411.05
Shares Outstanding (M)	781.10	781.10	781.10
Fair Value	$2.81	$2.95	$3.09
Upside / Downside	-45.10%	-42.46%	-39.71%

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

Xiamen Sunrise Group Co., Ltd. (002593.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener