DDM Analysis: 0QNO.L

Valuation Snapshot

Stable Growth	$674.21 - $3,590.71	$1,335.23
Multi-Stage	$413.07 - $451.71	$432.03
Blended Fair Value	$883.63
Current Price	$565.00
Upside	56.39%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	7.14%	9.90%	3.99	3.61	3.09	3.12	2.83	2.83	2.86	2.22	1.82	1.82
YoY Growth	-	-	10.77%	16.59%	-0.89%	10.29%	0.00%	-0.97%	28.75%	22.14%	0.00%	16.96%
Dividend Yield	-	-	0.75%	1.02%	0.68%	0.41%	0.50%	0.80%	1.12%	0.84%	1.11%	1.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,306.00
(-) Cash Dividends Paid (M)	569.00
(=) Cash Retained (M)	737.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	261.20	163.25	97.95
Cash Retained (M)	737.00	737.00	737.00
(-) Cash Required (M)	-261.20	-163.25	-97.95
(=) Excess Retained (M)	475.80	573.75	639.05
(/) Shares Outstanding (M)	72.09	72.09	72.09
(=) Excess Retained per Share	6.60	7.96	8.86
LTM Dividend per Share	7.89	7.89	7.89
(+) Excess Retained per Share	6.60	7.96	8.86
(=) Adjusted Dividend	14.49	15.85	16.76
WACC / Discount Rate	7.40%	7.40%	7.40%
Growth Rate	5.14%	6.14%	7.14%
Fair Value	$674.21	$1,335.23	$3,590.71
Upside / Downside	19.33%	136.32%	535.52%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,306.00	1,386.19	1,471.31	1,561.65	1,657.54	1,759.31	1,812.09
Payout Ratio	43.57%	52.85%	62.14%	71.43%	80.71%	90.00%	92.50%
Projected Dividends (M)	569.00	732.66	914.28	1,115.44	1,337.86	1,583.38	1,676.18

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.40%	7.40%	7.40%
Growth Rate	5.14%	6.14%	7.14%
Year 1 PV (M)	675.75	682.18	688.61
Year 2 PV (M)	777.76	792.63	807.63
Year 3 PV (M)	875.18	900.39	926.08
Year 4 PV (M)	968.15	1,005.51	1,043.95
Year 5 PV (M)	1,056.83	1,108.05	1,161.24
PV of Terminal Value (M)	25,425.05	26,657.38	27,937.02
Equity Value (M)	29,778.73	31,146.14	32,564.53
Shares Outstanding (M)	72.09	72.09	72.09
Fair Value	$413.07	$432.03	$451.71
Upside / Downside	-26.89%	-23.53%	-20.05%

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

Lonza Group AG (0QNO.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener