DDM Analysis: 600089.SS

Valuation Snapshot

Stable Growth	$178.16 - $209.91	$196.71
Multi-Stage	$118.64 - $130.21	$124.32
Blended Fair Value	$160.51
Current Price	$17.80
Upside	801.77%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	2.35%	6.63%	0.48	1.17	0.78	0.15	0.45	0.43	0.40	0.31	0.30	0.27
YoY Growth	-	-	-59.05%	49.13%	405.47%	-65.31%	4.89%	6.85%	30.19%	1.95%	11.58%	6.89%
Dividend Yield	-	-	3.97%	7.49%	4.68%	0.99%	5.18%	7.57%	6.08%	4.51%	3.61%	3.97%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	5,321.65
(-) Cash Dividends Paid (M)	938.54
(=) Cash Retained (M)	4,383.11

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,064.33	665.21	399.12
Cash Retained (M)	4,383.11	4,383.11	4,383.11
(-) Cash Required (M)	-1,064.33	-665.21	-399.12
(=) Excess Retained (M)	3,318.78	3,717.91	3,983.99
(/) Shares Outstanding (M)	5,041.95	5,041.95	5,041.95
(=) Excess Retained per Share	0.66	0.74	0.79
LTM Dividend per Share	0.19	0.19	0.19
(+) Excess Retained per Share	0.66	0.74	0.79
(=) Adjusted Dividend	0.84	0.92	0.98
WACC / Discount Rate	2.69%	2.69%	2.69%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$178.16	$196.71	$209.91
Upside / Downside	900.92%	1,005.14%	1,079.26%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	5,321.65	5,667.56	6,035.95	6,428.29	6,846.13	7,291.12	7,509.86
Payout Ratio	17.64%	32.11%	46.58%	61.05%	75.53%	90.00%	92.50%
Projected Dividends (M)	938.54	1,819.80	2,811.65	3,924.76	5,170.69	6,562.01	6,946.62

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	2.69%	2.69%	2.69%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	1,755.49	1,772.13	1,788.77
Year 2 PV (M)	2,616.46	2,666.30	2,716.60
Year 3 PV (M)	3,523.24	3,624.38	3,727.44
Year 4 PV (M)	4,477.69	4,649.89	4,827.01
Year 5 PV (M)	5,481.75	5,746.52	6,021.43
PV of Terminal Value (M)	580,304.30	608,333.21	637,434.86
Equity Value (M)	598,158.94	626,792.44	656,516.11
Shares Outstanding (M)	5,041.95	5,041.95	5,041.95
Fair Value	$118.64	$124.32	$130.21
Upside / Downside	566.50%	598.40%	631.52%

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

TBEA Co., Ltd. (600089.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener