DDM Analysis: 603329.SS

Valuation Snapshot

Stable Growth	$6.63 - $31.18	$11.71
Multi-Stage	$4.49 - $4.90	$4.69
Blended Fair Value	$8.20
Current Price	$11.14
Upside	-26.38%
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	7.18%	2.61%	0.30	0.41	0.40	0.23	0.06	0.22	0.26	0.25	0.21	0.26
YoY Growth	-	-	-25.79%	2.41%	75.17%	291.54%	-72.87%	-15.94%	1.93%	22.58%	-21.06%	10.39%
Dividend Yield	-	-	2.93%	3.95%	3.41%	2.28%	0.62%	2.58%	1.90%	1.04%	1.76%	2.23%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	35.88
(-) Cash Dividends Paid (M)	28.40
(=) Cash Retained (M)	7.49

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	7.18	4.49	2.69
Cash Retained (M)	7.49	7.49	7.49
(-) Cash Required (M)	-7.18	-4.49	-2.69
(=) Excess Retained (M)	0.31	3.00	4.80
(/) Shares Outstanding (M)	170.49	170.49	170.49
(=) Excess Retained per Share	0.00	0.02	0.03
LTM Dividend per Share	0.17	0.17	0.17
(+) Excess Retained per Share	0.00	0.02	0.03
(=) Adjusted Dividend	0.17	0.18	0.19
WACC / Discount Rate	7.84%	7.84%	7.84%
Growth Rate	5.18%	6.18%	7.18%
Fair Value	$6.63	$11.71	$31.18
Upside / Downside	-40.44%	5.15%	179.90%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	35.88	38.10	40.45	42.95	45.60	48.42	49.87
Payout Ratio	79.14%	81.31%	83.48%	85.65%	87.83%	90.00%	92.50%
Projected Dividends (M)	28.40	30.98	33.77	36.79	40.05	43.58	46.13

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.84%	7.84%	7.84%
Growth Rate	5.18%	6.18%	7.18%
Year 1 PV (M)	28.45	28.72	28.99
Year 2 PV (M)	28.49	29.03	29.58
Year 3 PV (M)	28.51	29.33	30.17
Year 4 PV (M)	28.51	29.61	30.74
Year 5 PV (M)	28.49	29.87	31.30
PV of Terminal Value (M)	622.54	652.70	684.02
Equity Value (M)	764.99	799.27	834.81
Shares Outstanding (M)	170.49	170.49	170.49
Fair Value	$4.49	$4.69	$4.90
Upside / Downside	-59.72%	-57.92%	-56.05%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 20 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
SMBC	Southern Missouri Bancorp, Inc.	1.61%	$0.94	17.19%
VIRC	Virco Mfg. Corporation	1.61%	$0.10	41.34%
CNO	CNO Financial Group, Inc.	1.60%	$0.67	22.53%
IVT	InvenTrust Properties Corp.	1.60%	$0.45	29.49%
KBR	KBR, Inc.	1.60%	$0.65	21.84%
OBK	Origin Bancorp, Inc.	1.60%	$0.60	31.45%
TNC	Tennant Company	1.60%	$1.18	39.96%
DELL	Dell Technologies Inc.	1.59%	$2.03	27.33%
RVSB	Riverview Bancorp, Inc.	1.59%	$0.08	35.84%
0HPW.L	Broadridge Financial Solutions, Inc.	1.58%	$3.49	44.54%
CCF	Chase Corporation	1.58%	$2.01	57.26%
MSIF	MSC Income Fund, Inc.	1.58%	$0.21	12.72%
PRI	Primerica, Inc.	1.58%	$4.10	18.44%
IEX	IDEX Corporation	1.57%	$2.82	44.28%
LHX	L3Harris Technologies, Inc.	1.57%	$4.79	51.11%
MRO	Marathon Oil Corporation	1.57%	$0.45	19.02%
NEU	NewMarket Corporation	1.57%	$10.82	22.69%
PSMT	PriceSmart, Inc.	1.57%	$1.93	39.29%
TFSL	TFS Financial Corporation	1.57%	$0.21	65.45%
UFPI	UFP Industries, Inc.	1.57%	$1.44	25.79%
0M3Q.L	Zoetis Inc.	1.56%	$1.95	32.55%
0K92.L	Northrop Grumman Corporation	1.55%	$8.80	31.43%
0QZ5.L	Cognizant Technology Solutions Corporation	1.55%	$1.25	28.62%
EMR	Emerson Electric Co.	1.55%	$2.11	51.98%
SYF	Synchrony Financial	1.55%	$1.32	13.96%
TXRH	Texas Roadhouse, Inc.	1.55%	$2.65	40.30%
0HQW.L	C.H. Robinson Worldwide, Inc.	1.54%	$2.48	50.26%
0J76.L	Huntington Ingalls Industries, Inc.	1.54%	$5.36	37.08%
BHE	Benchmark Electronics, Inc.	1.54%	$0.68	65.62%
DPZ	Domino's Pizza, Inc.	1.54%	$6.54	37.90%
GRC	The Gorman-Rupp Company	1.54%	$0.74	38.69%
DFS	Discover Financial Services	1.53%	$3.06	16.08%
SPFI	South Plains Financial, Inc.	1.53%	$0.59	16.67%
JMSB	John Marshall Bancorp, Inc.	1.52%	$0.30	29.07%
0J3H.L	The Hartford Financial Services Group, Inc.	1.51%	$2.06	16.53%
TRV	The Travelers Companies, Inc.	1.51%	$4.29	16.63%
CISMX	Clarkston Partners Fund Institutional Class	1.50%	$0.19	32.74%
FCAP	First Capital, Inc.	1.50%	$0.88	28.53%
MGYR	Magyar Bancorp, Inc.	1.50%	$0.26	22.66%
OBT	Orange County Bancorp, Inc.	1.50%	$0.43	15.62%
OSK	Oshkosh Corporation	1.50%	$1.99	19.24%
SAIC	Science Applications International Corporation	1.50%	$1.51	19.14%
FUL	H.B. Fuller Company	1.49%	$0.90	43.28%
CBNK	Capital Bancorp, Inc.	1.48%	$0.41	14.04%
FRBA	First Bank	1.48%	$0.24	14.40%
ANDE	The Andersons, Inc.	1.47%	$0.78	36.39%
IROQ	IF Bancorp, Inc.	1.47%	$0.40	25.40%
WM	Waste Management, Inc.	1.47%	$3.22	50.78%
ATR	AptarGroup, Inc.	1.45%	$1.78	28.44%
CHX	ChampionX Corporation	1.45%	$0.37	24.70%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Shanghai Ace Investment & Development Co., Ltd. (603329.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener