DDM Analysis: 600511.SS

Valuation Snapshot

Stable Growth	$217.83 - $530.11	$496.79
Multi-Stage	$77.13 - $84.43	$80.72
Blended Fair Value	$288.75
Current Price	$28.60
Upside	909.62%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	8.31%	14.64%	0.90	0.94	0.81	0.85	0.81	0.61	0.68	0.34	0.26	0.11
YoY Growth	-	-	-3.83%	15.95%	-4.05%	4.03%	33.89%	-11.28%	99.09%	32.95%	131.58%	-51.62%
Dividend Yield	-	-	3.03%	2.84%	2.18%	2.88%	2.40%	2.15%	2.51%	1.12%	0.77%	0.41%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,011.12
(-) Cash Dividends Paid (M)	661.16
(=) Cash Retained (M)	1,349.96

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	402.22	251.39	150.83
Cash Retained (M)	1,349.96	1,349.96	1,349.96
(-) Cash Required (M)	-402.22	-251.39	-150.83
(=) Excess Retained (M)	947.73	1,098.57	1,199.12
(/) Shares Outstanding (M)	754.49	754.49	754.49
(=) Excess Retained per Share	1.26	1.46	1.59
LTM Dividend per Share	0.88	0.88	0.88
(+) Excess Retained per Share	1.26	1.46	1.59
(=) Adjusted Dividend	2.13	2.33	2.47
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$217.83	$496.79	$530.11
Upside / Downside	661.65%	1,637.02%	1,753.52%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,011.12	2,141.84	2,281.06	2,429.33	2,587.24	2,755.41	2,838.07
Payout Ratio	32.88%	44.30%	55.73%	67.15%	78.58%	90.00%	92.50%
Projected Dividends (M)	661.16	948.84	1,271.13	1,631.30	2,032.92	2,479.87	2,625.22

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	882.29	890.66	899.02
Year 2 PV (M)	1,099.08	1,120.01	1,141.14
Year 3 PV (M)	1,311.57	1,349.22	1,387.59
Year 4 PV (M)	1,519.85	1,578.30	1,638.41
Year 5 PV (M)	1,723.96	1,807.23	1,893.68
PV of Terminal Value (M)	51,659.27	54,154.43	56,745.09
Equity Value (M)	58,196.02	60,899.85	63,704.94
Shares Outstanding (M)	754.49	754.49	754.49
Fair Value	$77.13	$80.72	$84.43
Upside / Downside	169.69%	182.22%	195.22%

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

Analysis Mode

Ticker

Industry

Sector

China National Medicines Corporation Ltd. (600511.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener