DDM Analysis: 9104.T

Valuation Snapshot

Stable Growth	$70,470.44 - $167,389.27	$156,868.26
Multi-Stage	$24,104.02 - $26,410.70	$25,236.06
Blended Fair Value	$91,052.16
Current Price	$4,494.00
Upside	1,926.08%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	74.10%	30.79%	299.87	381.46	616.66	148.38	17.03	18.75	10.27	3.46	12.15	25.47
YoY Growth	-	-	-21.39%	-38.14%	315.60%	771.10%	-9.15%	82.55%	196.46%	-71.49%	-52.30%	24.38%
Dividend Yield	-	-	6.22%	7.69%	17.84%	4.78%	0.96%	2.95%	1.14%	0.39%	1.10%	3.54%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	294,946.00
(-) Cash Dividends Paid (M)	19,912.00
(=) Cash Retained (M)	275,034.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	58,989.20	36,868.25	22,120.95
Cash Retained (M)	275,034.00	275,034.00	275,034.00
(-) Cash Required (M)	-58,989.20	-36,868.25	-22,120.95
(=) Excess Retained (M)	216,044.80	238,165.75	252,913.05
(/) Shares Outstanding (M)	350.43	350.43	350.43
(=) Excess Retained per Share	616.52	679.65	721.73
LTM Dividend per Share	56.82	56.82	56.82
(+) Excess Retained per Share	616.52	679.65	721.73
(=) Adjusted Dividend	673.34	736.47	778.55
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$70,470.44	$156,868.26	$167,389.27
Upside / Downside	1,468.10%	3,390.62%	3,624.73%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	294,946.00	314,117.49	334,535.13	356,279.91	379,438.10	404,101.58	416,224.63
Payout Ratio	6.75%	23.40%	40.05%	56.70%	73.35%	90.00%	92.50%
Projected Dividends (M)	19,912.00	73,506.17	133,983.46	202,012.23	278,318.66	363,691.42	385,007.78

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	68,366.64	69,014.66	69,662.69
Year 2 PV (M)	115,902.29	118,109.90	120,338.34
Year 3 PV (M)	162,532.00	167,197.71	171,951.87
Year 4 PV (M)	208,268.68	216,278.11	224,516.36
Year 5 PV (M)	253,125.04	265,351.08	278,045.03
PV of Terminal Value (M)	7,638,455.61	8,007,395.87	8,390,456.35
Equity Value (M)	8,446,650.26	8,843,347.33	9,254,970.63
Shares Outstanding (M)	350.43	350.43	350.43
Fair Value	$24,104.02	$25,236.06	$26,410.70
Upside / Downside	436.36%	461.55%	487.69%

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

Mitsui O.S.K. Lines, Ltd. (9104.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener