DDM Analysis: KBHL.CO

Valuation Snapshot

Stable Growth	$2,091.79 - $3,914.66	$2,834.98
Multi-Stage	$5,311.39 - $5,852.92	$5,576.85
Blended Fair Value	$4,205.92
Current Price	$6,540.00
Upside	-35.69%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-44.78%	-26.02%	6.11	9.87	7.66	0.00	0.00	118.96	157.56	155.09	153.32	129.04
YoY Growth	-	-	-38.16%	28.81%	0.00%	0.00%	-100.00%	-24.50%	1.59%	1.15%	18.82%	3.77%
Dividend Yield	-	-	0.10%	0.18%	0.12%	0.00%	0.00%	2.41%	2.67%	2.78%	2.55%	3.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,092.00
(-) Cash Dividends Paid (M)	229.00
(=) Cash Retained (M)	863.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	218.40	136.50	81.90
Cash Retained (M)	863.00	863.00	863.00
(-) Cash Required (M)	-218.40	-136.50	-81.90
(=) Excess Retained (M)	644.60	726.50	781.10
(/) Shares Outstanding (M)	7.70	7.70	7.70
(=) Excess Retained per Share	83.74	94.38	101.47
LTM Dividend per Share	29.75	29.75	29.75
(+) Excess Retained per Share	83.74	94.38	101.47
(=) Adjusted Dividend	113.49	124.13	131.22
WACC / Discount Rate	5.10%	5.10%	5.10%
Growth Rate	-0.31%	0.69%	1.69%
Fair Value	$2,091.79	$2,834.98	$3,914.66
Upside / Downside	-68.02%	-56.65%	-40.14%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,092.00	1,099.55	1,107.15	1,114.81	1,122.51	1,130.27	1,164.18
Payout Ratio	20.97%	34.78%	48.58%	62.39%	76.19%	90.00%	92.50%
Projected Dividends (M)	229.00	382.39	537.88	695.51	855.29	1,017.25	1,076.87

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	5.10%	5.10%	5.10%
Growth Rate	-0.31%	0.69%	1.69%
Year 1 PV (M)	360.22	363.83	367.44
Year 2 PV (M)	477.32	486.94	496.66
Year 3 PV (M)	581.42	599.09	617.12
Year 4 PV (M)	673.54	700.97	729.23
Year 5 PV (M)	754.63	793.25	833.43
PV of Terminal Value (M)	38,037.23	39,983.64	42,008.92
Equity Value (M)	40,884.35	42,927.72	45,052.81
Shares Outstanding (M)	7.70	7.70	7.70
Fair Value	$5,311.39	$5,576.85	$5,852.92
Upside / Downside	-18.79%	-14.73%	-10.51%

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

Københavns Lufthavne A/S (KBHL.CO)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener