DDM Analysis: 600862.SS

Valuation Snapshot

Stable Growth	$127.06 - $149.70	$140.29
Multi-Stage	$90.89 - $99.75	$95.24
Blended Fair Value	$117.77
Current Price	$23.69
Upside	397.11%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	7.92%	24.54%	0.22	0.17	0.13	0.10	0.17	0.15	0.03	0.03	0.02	0.02
YoY Growth	-	-	35.16%	26.59%	26.91%	-40.45%	13.23%	413.38%	-9.09%	33.02%	6.20%	-7.03%
Dividend Yield	-	-	0.94%	0.85%	0.59%	0.46%	0.67%	1.27%	0.29%	0.37%	0.21%	0.17%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,046.99
(-) Cash Dividends Paid (M)	349.25
(=) Cash Retained (M)	697.74

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	209.40	130.87	78.52
Cash Retained (M)	697.74	697.74	697.74
(-) Cash Required (M)	-209.40	-130.87	-78.52
(=) Excess Retained (M)	488.35	566.87	619.22
(/) Shares Outstanding (M)	1,390.89	1,390.89	1,390.89
(=) Excess Retained per Share	0.35	0.41	0.45
LTM Dividend per Share	0.25	0.25	0.25
(+) Excess Retained per Share	0.35	0.41	0.45
(=) Adjusted Dividend	0.60	0.66	0.70
WACC / Discount Rate	1.27%	1.27%	1.27%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$127.06	$140.29	$149.70
Upside / Downside	436.36%	492.21%	531.92%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,046.99	1,115.05	1,187.53	1,264.72	1,346.92	1,434.47	1,477.51
Payout Ratio	33.36%	44.69%	56.01%	67.34%	78.67%	90.00%	92.50%
Projected Dividends (M)	349.25	498.27	665.19	851.70	1,059.64	1,291.02	1,366.69

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	1.27%	1.27%	1.27%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	487.38	492.00	496.62
Year 2 PV (M)	636.43	648.56	660.79
Year 3 PV (M)	797.08	819.96	843.27
Year 4 PV (M)	970.02	1,007.32	1,045.69
Year 5 PV (M)	1,156.01	1,211.84	1,269.81
PV of Terminal Value (M)	122,376.01	128,286.82	134,423.84
Equity Value (M)	126,422.92	132,466.49	138,740.03
Shares Outstanding (M)	1,390.89	1,390.89	1,390.89
Fair Value	$90.89	$95.24	$99.75
Upside / Downside	283.68%	302.02%	321.06%

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

AVIC Aviation High-Technology Co., Ltd. (600862.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener