Definitive Analysis
| Stable Growth | $30,854.73 - $111,321.37 | $98,205.37 |
| Multi-Stage | $14,471.16 - $15,812.82 | $15,129.78 |
| Blended Fair Value | $56,667.57 | |
| Current Price | $4,120.00 | |
| Upside | 1,275.43% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.74% | 14.43% | 280.46 | 196.50 | 73.09 | 22.00 | 103.18 | 100.70 | 127.85 | 106.46 | 60.81 | 72.31 |
| YoY Growth | - | - | 42.73% | 168.84% | 232.23% | -78.68% | 2.46% | -21.23% | 20.09% | 75.07% | -15.91% | -0.76% |
| Dividend Yield | - | - | 6.61% | 3.48% | 1.56% | 0.53% | 3.60% | 5.27% | 2.72% | 2.45% | 1.88% | 2.78% |
| Net Income To Common (M) | 20,866,036.00 |
| (-) Cash Dividends Paid (M) | 13,951,339.00 |
| (=) Cash Retained (M) | 6,914,697.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,173,207.20 | 2,608,254.50 | 1,564,952.70 |
| Cash Retained (M) | 6,914,697.00 | 6,914,697.00 | 6,914,697.00 |
| (-) Cash Required (M) | -4,173,207.20 | -2,608,254.50 | -1,564,952.70 |
| (=) Excess Retained (M) | 2,741,489.80 | 4,306,442.50 | 5,349,744.30 |
| (/) Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| (=) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| LTM Dividend per Share | 374.26 | 374.26 | 374.26 |
| (+) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| (=) Adjusted Dividend | 447.80 | 489.79 | 517.77 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,854.73 | $98,205.37 | $111,321.37 |
| Upside / Downside | 648.90% | 2,283.63% | 2,601.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 20,866,036.00 | 22,222,328.34 | 23,666,779.68 | 25,205,120.36 | 26,843,453.18 | 28,588,277.64 | 29,445,925.97 |
| Payout Ratio | 66.86% | 71.49% | 76.12% | 80.74% | 85.37% | 90.00% | 92.50% |
| Projected Dividends (M) | 13,951,339.00 | 15,886,559.93 | 18,014,415.17 | 20,351,770.88 | 22,916,871.93 | 25,729,449.88 | 27,237,481.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 14,703,560.32 | 14,842,930.56 | 14,982,300.80 |
| Year 2 PV (M) | 15,431,404.38 | 15,725,329.29 | 16,022,027.07 |
| Year 3 PV (M) | 16,135,414.69 | 16,598,604.46 | 17,070,574.82 |
| Year 4 PV (M) | 16,816,124.21 | 17,462,824.89 | 18,128,001.36 |
| Year 5 PV (M) | 17,474,055.54 | 18,318,058.96 | 19,194,364.37 |
| PV of Terminal Value (M) | 458,881,687.43 | 481,045,844.51 | 504,058,276.06 |
| Equity Value (M) | 539,442,246.57 | 563,993,592.68 | 589,455,544.49 |
| Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| Fair Value | $14,471.16 | $15,129.78 | $15,812.82 |
| Upside / Downside | 251.24% | 267.23% | 283.81% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| CU-X.TO | Canadian Utilities Limited | 6.70% | $2.31 | 96.15% |
| NAC | Nuveen California Quality Municipal Income Fund | 6.70% | $0.79 | 58.10% |
| SMIT.BK | Sahamit Machinery Public Company Limited | 6.70% | $0.24 | 80.77% |
| FNTN.DE | freenet AG | 6.69% | $1.99 | 86.99% |
| 2319.HK | China Mengniu Dairy Company Limited | 6.68% | $1.00 | 99.41% |
| 8963.T | Invincible Investment Corporation | 6.68% | $4,300.61 | 61.53% |
| PLAKR.AT | Plastika Kritis S.A. | 6.67% | $0.97 | 34.18% |
| 000540.KS | Heungkuk Fire&Marine Insurance Co., Ltd. | 6.66% | $237.38 | 27.99% |
| 2314.HK | Lee & Man Paper Manufacturing Limited | 6.66% | $0.19 | 28.93% |
| 298020.KS | Hyosung TNC Corporation | 6.66% | $14,250.78 | 88.73% |
| CPTGF.BK | C.P. Tower Growth Leasehold Property Fund | 6.66% | $0.34 | 63.33% |
| 0QQG.L | Romande Energie Holding S.A. | 6.65% | $2.88 | 54.24% |
| 9924.TW | Taiwan Fu Hsing Industrial Co.,Ltd. | 6.65% | $3.48 | 97.31% |
| AYUD.BK | Allianz Ayudhya Capital Public Company Limited | 6.65% | $2.34 | 38.16% |
| BEES3.SA | Banestes S.A. - Banco do Estado do Espírito Santo | 6.65% | $0.54 | 47.77% |
| DHT | DHT Holdings, Inc. | 6.65% | $0.78 | 62.76% |
| DVLA.JK | PT Darya-Varia Laboratoria Tbk | 6.65% | $110.00 | 71.18% |
| BTB-UN.TO | BTB Real Estate Investment Trust | 6.64% | $0.27 | 63.41% |
| 0297.HK | Sinofert Holdings Limited | 6.63% | $0.10 | 40.38% |
| 0QQ0.L | BKW AG | 6.63% | $11.16 | 61.27% |
| TTW-R.BK | TTW Public Company Limited | 6.63% | $0.60 | 76.46% |
| 000001.SZ | Ping An Bank Co., Ltd. | 6.62% | $0.75 | 33.97% |
| 5519.TW | LongDa Construction & Development Corporation | 6.62% | $2.17 | 73.27% |
| AKHI.QA | Al Khaleej Takaful Insurance Company Q.P.S.C. | 6.62% | $0.15 | 62.13% |
| DEXP3.SA | Dexxos Participações S.A. | 6.61% | $0.52 | 35.77% |
| PLZ-UN.TO | Plaza Retail REIT | 6.60% | $0.28 | 87.93% |
| 0900.HK | AEON Credit Service (Asia) Company Limited | 6.59% | $0.48 | 47.12% |
| 4001.SR | Abdullah Al-Othaim Markets Company | 6.59% | $0.41 | 69.57% |
| 9942.TW | NAK Sealing Technologies Corporation | 6.59% | $6.99 | 83.55% |
| QFLS.QA | Qatar Fuel Company Q.P.S.C.("WOQOD") | 6.59% | $1.00 | 96.27% |
| AD-UN.TO | Alaris Equity Partners Income Trust | 6.58% | $1.36 | 46.26% |
| ARF.AX | Arena REIT | 6.58% | $0.23 | 67.19% |
| BVI.PA | Bureau Veritas S.A. | 6.58% | $1.77 | 68.58% |
| 9677.HK | Weihai Bank Co., Ltd. Class H | 6.57% | $0.18 | 37.27% |
| LI.PA | Klépierre | 6.57% | $2.19 | 40.55% |
| SIME.KL | Sime Darby Berhad | 6.57% | $0.14 | 45.15% |
| KER.PA | Kering S.A. | 6.56% | $19.99 | 87.42% |
| MING.OL | SpareBank 1 SMN | 6.56% | $13.29 | 42.26% |
| 024090.KS | DCM Corp. | 6.55% | $791.65 | 75.82% |
| EMSN.SW | Ems-Chemie Holding AG | 6.55% | $36.01 | 91.24% |
| HVN.AX | Harvey Norman Holdings Limited | 6.55% | $0.46 | 65.85% |
| LALIN.BK | Lalin Property Public Company Limited | 6.54% | $0.32 | 61.45% |
| 0636.HK | KLN Logistics Group Limited | 6.53% | $0.47 | 28.09% |
| 0JSU.L | Sipef N.V. | 6.53% | $5.38 | 34.04% |
| 0QF8.L | Aktia Pankki Oyj | 6.53% | $0.82 | 92.48% |
| INTR | Inter & Co, Inc. | 6.53% | $0.55 | 20.40% |
| 0028.HK | Tian An China Investments Company Limited | 6.52% | $0.30 | 15.83% |
| 4190.SR | Jarir Marketing Company | 6.52% | $0.84 | 99.34% |
| ONEE.BK | The ONE Enterprise Public Company Limited | 6.52% | $0.14 | 89.05% |
| 0119.HK | Poly Property Group Co., Limited | 6.51% | $0.13 | 38.03% |