DDM Analysis: 6409.T

Valuation Snapshot

Stable Growth	$31,984.65 - $37,690.01	$35,317.97
Multi-Stage	$19,262.33 - $21,162.09	$20,194.29
Blended Fair Value	$27,756.13
Current Price	$2,718.00
Upside	921.20%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	4.75%	12.23%	31.15	27.97	37.15	29.37	22.31	24.70	26.33	24.78	12.26	9.79
YoY Growth	-	-	11.40%	-24.72%	26.49%	31.63%	-9.68%	-6.20%	6.28%	102.17%	25.19%	-0.39%
Dividend Yield	-	-	1.18%	1.67%	2.75%	1.71%	1.05%	2.15%	3.26%	2.08%	1.00%	1.22%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	5,041.00
(-) Cash Dividends Paid (M)	246.00
(=) Cash Retained (M)	4,795.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,008.20	630.13	378.08
Cash Retained (M)	4,795.00	4,795.00	4,795.00
(-) Cash Required (M)	-1,008.20	-630.13	-378.08
(=) Excess Retained (M)	3,786.80	4,164.88	4,416.93
(/) Shares Outstanding (M)	26.35	26.35	26.35
(=) Excess Retained per Share	143.69	158.04	167.60
LTM Dividend per Share	9.33	9.33	9.33
(+) Excess Retained per Share	143.69	158.04	167.60
(=) Adjusted Dividend	153.03	167.38	176.94
WACC / Discount Rate	3.95%	3.95%	3.95%
Growth Rate	4.51%	5.51%	6.51%
Fair Value	$31,984.65	$35,317.97	$37,690.01
Upside / Downside	1,076.77%	1,199.41%	1,286.68%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	5,041.00	5,318.52	5,611.32	5,920.24	6,246.17	6,590.04	6,787.74
Payout Ratio	4.88%	21.90%	38.93%	55.95%	72.98%	90.00%	92.50%
Projected Dividends (M)	246.00	1,164.97	2,184.38	3,312.49	4,558.21	5,931.04	6,278.66

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	3.95%	3.95%	3.95%
Growth Rate	4.51%	5.51%	6.51%
Year 1 PV (M)	1,110.08	1,120.70	1,131.32
Year 2 PV (M)	1,983.38	2,021.52	2,060.02
Year 3 PV (M)	2,865.98	2,949.05	3,033.70
Year 4 PV (M)	3,757.96	3,903.87	4,054.00
Year 5 PV (M)	4,659.38	4,886.61	5,122.63
PV of Terminal Value (M)	493,247.31	517,302.44	542,287.06
Equity Value (M)	507,624.10	532,184.20	557,688.73
Shares Outstanding (M)	26.35	26.35	26.35
Fair Value	$19,262.33	$20,194.29	$21,162.09
Upside / Downside	608.70%	642.98%	678.59%

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

KITO Corporation (6409.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener