DDM Analysis: 300432.SZ

Valuation Snapshot

Stable Growth	$47.36 - $55.80	$52.30
Multi-Stage	$38.14 - $41.86	$39.97
Blended Fair Value	$46.13
Current Price	$22.22
Upside	107.61%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	34.99%	14.57%	0.02	0.18	0.02	0.00	0.00	0.00	0.07	0.11	0.05	0.02
YoY Growth	-	-	-88.25%	643.31%	1,127.67%	0.00%	-100.00%	-93.45%	-32.91%	102.60%	120.00%	344.28%
Dividend Yield	-	-	0.15%	3.27%	0.25%	0.02%	0.00%	0.20%	3.69%	2.43%	0.74%	0.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	411.16
(-) Cash Dividends Paid (M)	156.48
(=) Cash Retained (M)	254.68

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	82.23	51.40	30.84
Cash Retained (M)	254.68	254.68	254.68
(-) Cash Required (M)	-82.23	-51.40	-30.84
(=) Excess Retained (M)	172.45	203.29	223.84
(/) Shares Outstanding (M)	1,465.34	1,465.34	1,465.34
(=) Excess Retained per Share	0.12	0.14	0.15
LTM Dividend per Share	0.11	0.11	0.11
(+) Excess Retained per Share	0.12	0.14	0.15
(=) Adjusted Dividend	0.22	0.25	0.26
WACC / Discount Rate	-1.10%	-1.10%	-1.10%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$47.36	$52.30	$55.80
Upside / Downside	113.16%	135.35%	151.14%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	411.16	437.89	466.35	496.66	528.95	563.33	580.23
Payout Ratio	38.06%	48.45%	58.84%	69.22%	79.61%	90.00%	92.50%
Projected Dividends (M)	156.48	212.14	274.38	343.81	421.10	507.00	536.71

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	-1.10%	-1.10%	-1.10%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	212.50	214.51	216.53
Year 2 PV (M)	275.30	280.54	285.84
Year 3 PV (M)	345.54	355.46	365.57
Year 4 PV (M)	423.94	440.24	457.01
Year 5 PV (M)	511.27	535.96	561.60
PV of Terminal Value (M)	54,123.20	56,737.37	59,451.59
Equity Value (M)	55,891.74	58,564.09	61,338.13
Shares Outstanding (M)	1,465.34	1,465.34	1,465.34
Fair Value	$38.14	$39.97	$41.86
Upside / Downside	71.66%	79.87%	88.39%

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

Mianyang Fulin Precision Co.,Ltd. (300432.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener