DDM Analysis: 002062.SZ

Valuation Snapshot

Stable Growth	$3.55 - $6.93	$4.89
Multi-Stage	$18.15 - $20.11	$19.11
Blended Fair Value	$12.00
Current Price	$10.00
Upside	20.01%
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	29.11%	21.53%	0.17	0.09	0.09	0.11	0.05	0.05	0.05	0.21	0.07	0.07
YoY Growth	-	-	79.35%	0.00%	-16.67%	140.00%	0.00%	0.00%	-77.82%	215.59%	0.00%	180.00%
Dividend Yield	-	-	2.99%	2.25%	1.75%	2.17%	1.08%	1.02%	1.04%	4.70%	1.05%	1.19%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	276.91
(-) Cash Dividends Paid (M)	173.86
(=) Cash Retained (M)	103.05

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	55.38	34.61	20.77
Cash Retained (M)	103.05	103.05	103.05
(-) Cash Required (M)	-55.38	-34.61	-20.77
(=) Excess Retained (M)	47.67	68.44	82.29
(/) Shares Outstanding (M)	1,172.87	1,172.87	1,172.87
(=) Excess Retained per Share	0.04	0.06	0.07
LTM Dividend per Share	0.15	0.15	0.15
(+) Excess Retained per Share	0.04	0.06	0.07
(=) Adjusted Dividend	0.19	0.21	0.22
WACC / Discount Rate	0.13%	0.13%	0.13%
Growth Rate	-4.93%	-3.93%	-2.93%
Fair Value	$3.55	$4.89	$6.93
Upside / Downside	-64.50%	-51.09%	-30.68%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	276.91	266.03	255.58	245.54	235.89	226.62	233.42
Payout Ratio	62.78%	68.23%	73.67%	79.11%	84.56%	90.00%	92.50%
Projected Dividends (M)	173.86	181.51	188.29	194.25	199.46	203.96	215.91

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	0.13%	0.13%	0.13%
Growth Rate	-4.93%	-3.93%	-2.93%
Year 1 PV (M)	179.39	181.27	183.16
Year 2 PV (M)	183.91	187.80	191.73
Year 3 PV (M)	187.52	193.50	199.61
Year 4 PV (M)	190.30	198.43	206.83
Year 5 PV (M)	192.32	202.65	213.42
PV of Terminal Value (M)	20,359.07	21,452.56	22,592.55
Equity Value (M)	21,292.51	22,416.23	23,587.29
Shares Outstanding (M)	1,172.87	1,172.87	1,172.87
Fair Value	$18.15	$19.11	$20.11
Upside / Downside	81.54%	91.12%	101.11%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 21 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
GATX	GATX Corporation	1.45%	$2.47	28.36%
SF	Stifel Financial Corp.	1.45%	$1.86	30.82%
0HFN.L	Analog Devices, Inc.	1.44%	$3.90	84.88%
HAYN	Haynes International, Inc.	1.44%	$0.88	30.16%
0I58.L	Cummins Inc.	1.43%	$7.42	38.53%
0HRJ.L	CSX Corporation	1.42%	$0.51	33.32%
OLED	Universal Display Corporation	1.42%	$1.73	37.24%
BBW	Build-A-Bear Workshop, Inc.	1.41%	$0.86	19.50%
LBC	Luther Burbank Corporation	1.41%	$0.13	17.07%
SNDR	Schneider National, Inc.	1.41%	$0.38	58.72%
0R13.L	Church & Dwight Co., Inc.	1.40%	$1.16	36.55%
COHN	Cohen & Company Inc.	1.40%	$0.35	48.05%
HLI	Houlihan Lokey, Inc.	1.40%	$2.48	39.81%
PATK	Patrick Industries, Inc.	1.40%	$1.54	44.05%
CXT	Crane NXT, Co.	1.39%	$0.66	24.82%
ESBA	Empire State Realty OP, L.P.	1.39%	$0.09	49.94%
MMS	Maximus, Inc.	1.39%	$1.21	21.54%
WYNN	Wynn Resorts, Limited	1.39%	$1.70	34.98%
ATEN	A10 Networks, Inc.	1.38%	$0.24	34.61%
HYAC	Haymaker Acquisition Corp. III	1.38%	$0.16	37.41%
ISTR	Investar Holding Corporation	1.38%	$0.36	18.11%
MCY	Mercury General Corporation	1.38%	$1.27	16.00%
ACU	Acme United Corporation	1.37%	$0.55	28.31%
DE	Deere & Company	1.36%	$6.34	34.22%
HYAC-UN	Haymaker Acquisition Corp. 4	1.36%	$0.16	37.41%
RTX	RTX Corporation	1.36%	$2.56	52.52%
0HIN.L	Assurant, Inc.	1.35%	$3.22	19.47%
AL	Air Lease Corporation	1.35%	$0.86	9.51%
BGCP	BGC Partners, Inc.	1.34%	$0.06	11.88%
ESRT	Empire State Realty Trust, Inc.	1.34%	$0.09	49.94%
HUM	Humana Inc.	1.34%	$3.55	33.23%
ZEUS	Olympic Steel, Inc.	1.34%	$0.59	50.16%
0K9L.L	Nucor Corporation	1.33%	$2.22	31.04%
BY	Byline Bancorp, Inc.	1.33%	$0.39	13.97%
LPX	Louisiana-Pacific Corporation	1.33%	$1.09	35.19%
OPOF	Old Point Financial Corporation	1.33%	$0.56	32.91%
WSM	Williams-Sonoma, Inc.	1.33%	$2.50	27.85%
RUSHA	Rush Enterprises, Inc.	1.32%	$0.71	21.15%
VLEOX	Value Line Small Cap Opportunities Fund, Inc. Investor Class	1.32%	$0.79	56.29%
0IW7.L	Global Payments Inc.	1.31%	$1.01	13.82%
APO	Apollo Global Management, Inc.	1.31%	$1.92	27.59%
EMP	Entergy Mississippi, Inc. 1M BD 66	1.31%	$0.27	6.72%
NDSN	Nordson Corporation	1.31%	$3.15	36.67%
ROK	Rockwell Automation, Inc.	1.31%	$5.23	68.01%
UMBF	UMB Financial Corporation	1.31%	$1.52	18.87%
0L3I.L	The Charles Schwab Corporation	1.30%	$1.29	28.42%
0R2X.L	Corning Incorporated	1.30%	$1.15	72.69%
EBAY	eBay Inc.	1.30%	$1.13	24.20%
GGG	Graco Inc.	1.30%	$1.07	36.31%
HES	Hess Corporation	1.30%	$1.94	26.90%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Hongrun Construction Group Co., Ltd. (002062.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener