DDM Analysis: 600348.SS

Valuation Snapshot

Stable Growth	$14.52 - $83.54	$27.16
Multi-Stage	$12.64 - $13.86	$13.24
Blended Fair Value	$20.20
Current Price	$7.37
Upside	174.06%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	37.54%	18.41%	0.92	0.80	0.34	0.50	0.42	0.19	0.32	0.19	0.14	0.11
YoY Growth	-	-	15.39%	138.83%	-33.13%	19.22%	123.99%	-40.82%	65.47%	35.70%	33.69%	-38.04%
Dividend Yield	-	-	13.72%	8.67%	3.64%	6.23%	12.49%	6.12%	7.62%	3.99%	3.09%	2.35%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,529.94
(-) Cash Dividends Paid (M)	549.00
(=) Cash Retained (M)	980.94

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	305.99	191.24	114.75
Cash Retained (M)	980.94	980.94	980.94
(-) Cash Required (M)	-305.99	-191.24	-114.75
(=) Excess Retained (M)	674.95	789.70	866.19
(/) Shares Outstanding (M)	3,583.47	3,583.47	3,583.47
(=) Excess Retained per Share	0.19	0.22	0.24
LTM Dividend per Share	0.15	0.15	0.15
(+) Excess Retained per Share	0.19	0.22	0.24
(=) Adjusted Dividend	0.34	0.37	0.39
WACC / Discount Rate	6.21%	6.21%	6.21%
Growth Rate	3.77%	4.77%	5.77%
Fair Value	$14.52	$27.16	$83.54
Upside / Downside	96.99%	268.48%	1,033.50%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,529.94	1,602.86	1,679.26	1,759.30	1,843.16	1,931.01	1,988.94
Payout Ratio	35.88%	46.71%	57.53%	68.35%	79.18%	90.00%	92.50%
Projected Dividends (M)	549.00	748.65	966.08	1,202.54	1,459.35	1,737.91	1,839.77

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.21%	6.21%	6.21%
Growth Rate	3.77%	4.77%	5.77%
Year 1 PV (M)	698.17	704.89	711.62
Year 2 PV (M)	840.18	856.45	872.88
Year 3 PV (M)	975.30	1,003.77	1,032.79
Year 4 PV (M)	1,103.77	1,146.93	1,191.36
Year 5 PV (M)	1,225.81	1,286.03	1,348.58
PV of Terminal Value (M)	40,456.45	42,443.79	44,508.47
Equity Value (M)	45,299.68	47,441.87	49,665.70
Shares Outstanding (M)	3,583.47	3,583.47	3,583.47
Fair Value	$12.64	$13.24	$13.86
Upside / Downside	71.52%	79.63%	88.06%

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

Shan Xi Huayang Group New Energy Co.,Ltd. (600348.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener