DDM Analysis: 4540.T

Valuation Snapshot

Stable Growth	$29,681.15 - $72,362.00	$67,813.79
Multi-Stage	$10,558.86 - $11,556.34	$11,048.44
Blended Fair Value	$39,431.11
Current Price	$3,621.00
Upside	988.96%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	13.00%	7.17%	119.78	68.06	65.01	65.01	65.01	65.02	64.97	58.48	59.46	59.95
YoY Growth	-	-	75.99%	4.70%	0.00%	0.00%	-0.02%	0.08%	11.10%	-1.65%	-0.82%	0.00%
Dividend Yield	-	-	3.45%	1.65%	2.44%	2.13%	1.86%	2.31%	2.11%	1.63%	1.30%	2.16%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	27,403.00
(-) Cash Dividends Paid (M)	10,382.00
(=) Cash Retained (M)	17,021.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	5,480.60	3,425.38	2,055.23
Cash Retained (M)	17,021.00	17,021.00	17,021.00
(-) Cash Required (M)	-5,480.60	-3,425.38	-2,055.23
(=) Excess Retained (M)	11,540.40	13,595.63	14,965.78
(/) Shares Outstanding (M)	75.31	75.31	75.31
(=) Excess Retained per Share	153.23	180.52	198.72
LTM Dividend per Share	137.85	137.85	137.85
(+) Excess Retained per Share	153.23	180.52	198.72
(=) Adjusted Dividend	291.09	318.37	336.57
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$29,681.15	$67,813.79	$72,362.00
Upside / Downside	719.69%	1,772.79%	1,898.40%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	27,403.00	29,184.20	31,081.17	33,101.44	35,253.04	37,544.48	38,670.82
Payout Ratio	37.89%	48.31%	58.73%	69.15%	79.58%	90.00%	92.50%
Projected Dividends (M)	10,382.00	14,098.62	18,254.53	22,891.15	28,053.41	33,790.04	35,770.51

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	13,109.57	13,233.83	13,358.10
Year 2 PV (M)	15,783.19	16,083.81	16,387.27
Year 3 PV (M)	18,403.63	18,931.94	19,470.25
Year 4 PV (M)	20,971.69	21,778.21	22,607.76
Year 5 PV (M)	23,488.14	24,622.62	25,800.53
PV of Terminal Value (M)	703,459.35	737,436.70	772,714.45
Equity Value (M)	795,215.58	832,087.12	870,338.36
Shares Outstanding (M)	75.31	75.31	75.31
Fair Value	$10,558.86	$11,048.44	$11,556.34
Upside / Downside	191.60%	205.12%	219.15%

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

Analysis Mode

Ticker

Industry

Sector

Tsumura & Co. (4540.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener