DDM Analysis: 9948.T

Valuation Snapshot

Stable Growth	$8,339.57 - $42,784.75	$17,035.57
Multi-Stage	$6,581.38 - $7,215.03	$6,892.29
Blended Fair Value	$11,963.93
Current Price	$3,025.00
Upside	295.50%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	6.31%	6.00%	72.88	60.60	60.37	59.47	52.24	53.67	49.85	49.26	43.22	44.29
YoY Growth	-	-	20.27%	0.37%	1.53%	13.83%	-2.66%	7.66%	1.20%	13.97%	-2.43%	8.88%
Dividend Yield	-	-	2.54%	2.04%	2.57%	3.07%	2.19%	2.49%	2.35%	1.67%	1.80%	1.66%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	11,777.00
(-) Cash Dividends Paid (M)	3,995.00
(=) Cash Retained (M)	7,782.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,355.40	1,472.13	883.28
Cash Retained (M)	7,782.00	7,782.00	7,782.00
(-) Cash Required (M)	-2,355.40	-1,472.13	-883.28
(=) Excess Retained (M)	5,426.60	6,309.88	6,898.73
(/) Shares Outstanding (M)	53.98	53.98	53.98
(=) Excess Retained per Share	100.53	116.89	127.80
LTM Dividend per Share	74.01	74.01	74.01
(+) Excess Retained per Share	100.53	116.89	127.80
(=) Adjusted Dividend	174.54	190.90	201.81
WACC / Discount Rate	6.18%	6.18%	6.18%
Growth Rate	4.00%	5.00%	6.00%
Fair Value	$8,339.57	$17,035.57	$42,784.75
Upside / Downside	175.69%	463.16%	1,314.37%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	11,777.00	12,366.26	12,985.01	13,634.71	14,316.93	15,033.27	15,484.27
Payout Ratio	33.92%	45.14%	56.35%	67.57%	78.78%	90.00%	92.50%
Projected Dividends (M)	3,995.00	5,581.84	7,317.47	9,212.81	11,279.51	13,529.95	14,322.95

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.18%	6.18%	6.18%
Growth Rate	4.00%	5.00%	6.00%
Year 1 PV (M)	5,206.89	5,256.95	5,307.02
Year 2 PV (M)	6,367.41	6,490.44	6,614.65
Year 3 PV (M)	7,478.16	7,695.95	7,917.93
Year 4 PV (M)	8,540.70	8,873.94	9,216.84
Year 5 PV (M)	9,556.53	10,024.88	10,511.42
PV of Terminal Value (M)	318,117.21	333,707.73	349,903.60
Equity Value (M)	355,266.88	372,049.89	389,471.46
Shares Outstanding (M)	53.98	53.98	53.98
Fair Value	$6,581.38	$6,892.29	$7,215.03
Upside / Downside	117.57%	127.84%	138.51%

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

ARCS Company Limited (9948.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener