Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker / Industry / Sector

Ta Chen Stainless Pipe Co., Ltd. (2027.TW)

Company Dividend Discount ModelIndustry: SteelSector: Basic Materials

Valuation Snapshot

Stable Growth$91.98 - $524.31$173.17
Multi-Stage$76.46 - $83.80$80.06
Blended Fair Value$126.62
Current Price$38.50
Upside228.88%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-13.29%18.62%1.131.891.400.940.922.310.330.180.170.21
YoY Growth---40.00%34.67%48.78%2.38%-60.16%593.41%83.01%8.06%-17.93%0.00%
Dividend Yield--2.30%5.19%3.70%2.33%3.62%11.27%0.97%0.88%1.36%2.03%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)6,074.48
(-) Cash Dividends Paid (M)2,342.51
(=) Cash Retained (M)3,731.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,214.90759.31455.59
Cash Retained (M)3,731.973,731.973,731.97
(-) Cash Required (M)-1,214.90-759.31-455.59
(=) Excess Retained (M)2,517.072,972.663,276.38
(/) Shares Outstanding (M)2,270.462,270.462,270.46
(=) Excess Retained per Share1.111.311.44
LTM Dividend per Share1.031.031.03
(+) Excess Retained per Share1.111.311.44
(=) Adjusted Dividend2.142.342.47
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate3.93%4.93%5.93%
Fair Value$91.98$173.17$524.31
Upside / Downside138.90%349.79%1,261.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)6,074.486,373.966,688.217,017.957,363.957,727.007,958.81
Payout Ratio38.56%48.85%59.14%69.43%79.71%90.00%92.50%
Projected Dividends (M)2,342.513,113.723,955.274,872.235,870.006,954.307,361.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.35%6.35%6.35%
Growth Rate3.93%4.93%5.93%
Year 1 PV (M)2,899.932,927.842,955.74
Year 2 PV (M)3,430.793,497.133,564.10
Year 3 PV (M)3,936.004,050.714,167.63
Year 4 PV (M)4,416.464,588.914,766.36
Year 5 PV (M)4,873.035,112.035,360.31
PV of Terminal Value (M)154,050.18161,605.41169,454.21
Equity Value (M)173,606.40181,782.03190,268.35
Shares Outstanding (M)2,270.462,270.462,270.46
Fair Value$76.46$80.06$83.80
Upside / Downside98.61%107.96%117.67%

High-Yield Dividend Screener

« Prev Page 2 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
GHYPGIM Global High Yield Fund, Inc15.29%$1.8962.38%
BGRBlackRock Energy and Resources Trust15.26%$2.1298.26%
BOEBlackRock Enhanced Global Dividend Trust15.09%$1.7867.28%
FENFirst Trust Energy Income and Growth Fund15.00%$2.4049.79%
SOJESouthern Company (The) Series 214.95%$2.6967.01%
PSFCohen & Steers Select Preferred and Income Fund, Inc.14.84%$3.0256.28%
EVGEaton Vance Short Duration Diversified Income Fund14.82%$1.6271.62%
LDPCohen & Steers Limited Duration Preferred and Income Fund, Inc.14.73%$3.1554.69%
DNPDNP Select Income Fund Inc.14.64%$1.4553.01%
JRSNuveen Real Estate Income Fund14.56%$1.1189.79%
DPGDuff & Phelps Utility and Infrastructure Fund Inc.14.47%$1.8654.60%
BSTBlackRock Science and Technology Trust14.42%$5.8646.91%
MPAIXMorgan Stanley Insti Fd Advantage Portfolio Cl I14.33%$4.0043.20%
JCAPJefferson Capital, Inc. Common Stock14.11%$3.1245.65%
PHTPioneer High Income Fund, Inc.13.99%$1.1961.96%
RZC7.125% Fixed-Rate Reset Subordinated Debentures due 205213.93%$3.5527.34%
RNPCohen & Steers REIT and Preferred Income Fund, Inc.13.88%$2.7761.92%
DOMHDominari Holdings Inc.13.87%$0.7010.86%
STT-PDState Street Corporation13.86%$3.4633.48%
FCTFirst Trust Senior Floating Rate Income Fund II13.80%$1.3867.42%
VIRTVirtu Financial, Inc.13.57%$4.4389.50%
DHFBNY Mellon High Yield Strategies Fund13.55%$0.3461.16%
JHIJohn Hancock Investors Trust13.15%$1.7974.97%
AIOVirtus Artificial Intelligence & Technology Opportunities Fund12.91%$2.8238.01%
UTFCohen & Steers Infrastructure Fund, Inc12.84%$3.1453.56%
DFPFlaherty & Crumrine Dynamic Preferred and Income Fund Inc.12.81%$2.6848.05%
WEAWestern Asset Premier Bond Fund12.81%$1.4380.16%
TPZTortoise Essential Energy Fund12.76%$2.6467.76%
FTFranklin Universal Trust12.72%$1.0256.42%
CSQCalamos Strategic Total Return Fund12.70%$2.4351.10%
HYBThe New America High Income Fund Inc.12.68%$1.0463.42%
NBBNuveen Taxable Municipal Income Fund12.66%$2.0085.04%
RWAYRunway Growth Finance Corp.12.66%$1.1475.51%
ELVTElevate Credit, Inc.12.61%$0.2475.91%
NDPTortoise Energy Independence Fund, Inc.12.60%$5.0986.32%
BCEICivitas Resources, Inc.12.58%$7.0698.41%
GENVRGen Digital Inc. Contingent Value Rights12.54%$0.5054.91%
SOJCThe Southern Company JR 2017B NT 7712.31%$2.6967.01%
BTOJohn Hancock Financial Opportunities Fund12.25%$4.3229.72%
FEIFirst Trust MLP and Energy Income Fund12.21%$1.2058.56%
PCNPIMCO Corporate & Income Strategy Fund12.19%$1.5568.95%
HTDJohn Hancock Tax-Advantaged Dividend Income Fund12.17%$2.9051.08%
NIEVirtus Equity & Convertible Income Fund12.17%$3.0445.26%
PFDFlaherty & Crumrine Preferred Income Fund Inc.11.99%$1.4348.51%
TYGTortoise Energy Infrastructure Corporation11.98%$4.9643.95%
FPLFirst Trust New Opportunities MLP & Energy Fund11.82%$0.9254.20%
BTZBlackRock Credit Allocation Income Trust11.69%$1.2692.75%
BHBFXMadison Dividend Income Fd Cl Y11.61%$2.8540.22%
CGABLThe Carlyle Group Inc. 4.625% Subordinated Notes due 206111.57%$2.0197.92%
DBLDoubleLine Opportunistic Credit Fund11.57%$1.7652.03%