Definitive Analysis
| Stable Growth | $859,402.42 - $3,107,447.47 | $2,724,119.33 |
| Multi-Stage | $390,191.94 - $427,097.50 | $408,305.89 |
| Blended Fair Value | $1,566,212.61 | |
| Current Price | $115,500.00 | |
| Upside | 1,256.03% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 14.18% | 22.64% | 4,002.68 | 3,100.71 | 3,870.17 | 2,643.04 | 2,317.91 | 2,062.61 | 2,063.90 | 1,340.44 | 1,019.19 | 811.19 |
| YoY Growth | - | - | 29.09% | -19.88% | 46.43% | 14.03% | 12.38% | -0.06% | 53.97% | 31.52% | 25.64% | 56.00% |
| Dividend Yield | - | - | 5.07% | 4.53% | 8.12% | 4.31% | 4.12% | 5.97% | 4.69% | 2.21% | 2.08% | 2.55% |
| Net Income To Common (M) | 5,804,665.00 |
| (-) Cash Dividends Paid (M) | 1,316,794.00 |
| (=) Cash Retained (M) | 4,487,871.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,160,933.00 | 725,583.13 | 435,349.88 |
| Cash Retained (M) | 4,487,871.00 | 4,487,871.00 | 4,487,871.00 |
| (-) Cash Required (M) | -1,160,933.00 | -725,583.13 | -435,349.88 |
| (=) Excess Retained (M) | 3,326,938.00 | 3,762,287.88 | 4,052,521.13 |
| (/) Shares Outstanding (M) | 371.50 | 371.50 | 371.50 |
| (=) Excess Retained per Share | 8,955.53 | 10,127.41 | 10,908.67 |
| LTM Dividend per Share | 3,544.58 | 3,544.58 | 3,544.58 |
| (+) Excess Retained per Share | 8,955.53 | 10,127.41 | 10,908.67 |
| (=) Adjusted Dividend | 12,500.10 | 13,671.99 | 14,453.24 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $859,402.42 | $2,724,119.33 | $3,107,447.47 |
| Upside / Downside | 644.07% | 2,258.54% | 2,590.43% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 5,804,665.00 | 6,181,968.23 | 6,583,796.16 | 7,011,742.91 | 7,467,506.20 | 7,952,894.10 | 8,191,480.93 |
| Payout Ratio | 22.69% | 36.15% | 49.61% | 63.07% | 76.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,316,794.00 | 2,234,662.77 | 3,266,291.02 | 4,422,589.50 | 5,715,406.70 | 7,157,604.69 | 7,577,119.86 |
| 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) | 2,068,192.81 | 2,087,796.53 | 2,107,400.25 |
| Year 2 PV (M) | 2,797,775.98 | 2,851,065.76 | 2,904,858.26 |
| Year 3 PV (M) | 3,506,014.60 | 3,606,659.68 | 3,709,212.67 |
| Year 4 PV (M) | 4,193,370.73 | 4,354,635.94 | 4,520,508.38 |
| Year 5 PV (M) | 4,860,297.57 | 5,095,051.76 | 5,338,790.55 |
| PV of Terminal Value (M) | 127,528,897.12 | 133,688,590.54 | 140,084,029.92 |
| Equity Value (M) | 144,954,548.82 | 151,683,800.21 | 158,664,800.03 |
| Shares Outstanding (M) | 371.50 | 371.50 | 371.50 |
| Fair Value | $390,191.94 | $408,305.89 | $427,097.50 |
| Upside / Downside | 237.83% | 253.51% | 269.78% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| PZU.WA | Powszechny Zaklad Ubezpieczen S.A. | 6.34% | $4.34 | 61.18% |
| TIMS3.SA | TIM S.A. | 6.34% | $1.37 | 82.19% |
| 5027.KL | Kim Loong Resources Berhad | 6.33% | $0.15 | 90.58% |
| 600177.SS | Youngor Group Co.,Ltd | 6.33% | $0.48 | 85.43% |
| MQG.AX | Macquarie Group Limited | 6.33% | $12.89 | 67.45% |
| 1286.HK | Impro Precision Industries Limited | 6.32% | $0.32 | 47.46% |
| 2199.HK | Regina Miracle International (Holdings) Limited | 6.32% | $0.15 | 51.30% |
| 4331.SR | Aljazira Mawten REIT Fund | 6.32% | $0.74 | 71.72% |
| 8284.TWO | Mitake Information Corporation | 6.32% | $3.99 | 88.71% |
| B7E.DE | Blue Cap AG | 6.32% | $1.09 | 45.09% |
| SHAF.SW | Schaeffler AG | 6.32% | $0.46 | 99.67% |
| 2069.TW | Yuen Chang Stainless Steel Co., Ltd. | 6.31% | $1.16 | 72.53% |
| 603369.SS | Jiangsu King's Luck Brewery Joint-Stock Co., Ltd. | 6.31% | $2.20 | 95.23% |
| 035600.KQ | Kginicis Co.,Ltd | 6.30% | $640.74 | 33.42% |
| 3859.KL | Magnum Berhad | 6.30% | $0.09 | 63.20% |
| 600582.SS | Tiandi Science & Technology Co.Ltd | 6.29% | $0.37 | 54.45% |
| 6281.TW | E-Life Corporation | 6.29% | $3.97 | 96.34% |
| 8953.T | Japan Metropolitan Fund Investment Corporation | 6.29% | $7,808.75 | 82.66% |
| KYE.BK | Kang Yong Electric Public Company Limited | 6.29% | $17.80 | 46.83% |
| 3130.TW | 104 Corporation | 6.28% | $14.07 | 98.54% |
| 601658.SS | Postal Savings Bank of China Co., Ltd. | 6.28% | $0.34 | 46.63% |
| 005257.KS | Green Cross Holdings Corporation | 6.27% | $1,649.85 | 33.43% |
| 4138.TWO | Dynamic Medical Technologies Inc. | 6.27% | $3.77 | 85.97% |
| 4383.KL | Jaya Tiasa Holdings Berhad | 6.27% | $0.07 | 40.20% |
| AH-R.BK | AAPICO Hitech Public Company Limited | 6.27% | $0.79 | 35.60% |
| 1093.HK | CSPC Pharmaceutical Group Limited | 6.26% | $0.53 | 59.84% |
| 1397.HK | Baguio Green Group Limited | 6.26% | $0.07 | 21.64% |
| 005440.KS | Hyundai Green Food Co.,Ltd. | 6.25% | $501.53 | 14.65% |
| 0506.HK | China Foods Limited | 6.25% | $0.27 | 44.98% |
| 0RFX.L | Bell Food Group AG | 6.25% | $14.00 | 34.79% |
| 1345.HK | Shanghai Pioneer Holding Ltd | 6.25% | $0.14 | 61.06% |
| M-PAT.BK | MFC Patong Heritage Property Fund | 6.25% | $0.12 | 67.74% |
| PRV-UN.TO | Pro Real Estate Investment Trust | 6.25% | $0.41 | 77.89% |
| 2006.TW | Tung Ho Steel Enterprise Corporation | 6.24% | $3.99 | 66.06% |
| 600867.SS | Tonghua Dongbao Pharmaceutical Co., Ltd. | 6.24% | $0.51 | 80.83% |
| CEKA.JK | PT Wilmar Cahaya Indonesia Tbk. | 6.22% | $149.79 | 33.39% |
| TSFA.F | Taiwan Semiconductor Manufacturing Company Limited | 6.22% | $17.00 | 27.78% |
| 002061.SZ | Zhejiang Communications Technology Co., Ltd. | 6.21% | $0.25 | 55.66% |
| 003410.KS | SsangYong C&E Co., Ltd. | 6.21% | $434.43 | 84.58% |
| 6170.TWO | Welldone Company | 6.21% | $3.08 | 64.20% |
| 7480.T | Suzuden Corporation | 6.21% | $104.59 | 87.83% |
| HMPRO-R.BK | Home Product Center Public Company Limited | 6.21% | $0.41 | 87.39% |
| IPCC.JK | PT Indonesia Kendaraan Terminal Tbk | 6.21% | $86.96 | 64.44% |
| 4532.TW | Rechi Precision Co., Ltd. | 6.20% | $1.51 | 72.65% |
| OPM.PA | OPmobility | 6.20% | $1.02 | 44.93% |
| BCVN.SW | Banque Cantonale Vaudoise | 6.19% | $6.21 | 68.66% |
| MF.PA | Wendel | 6.19% | $5.05 | 81.14% |
| OVS.MI | OVS S.p.A. | 6.19% | $0.30 | 79.04% |
| A5G.IR | AIB Group plc | 6.18% | $0.58 | 48.87% |
| BEK-B.TO | The Becker Milk Company Limited | 6.18% | $0.80 | 47.42% |