DDM Analysis: 1299.HK

Valuation Snapshot

Stable Growth	$10.74 - $17.35	$13.71
Multi-Stage	$14.83 - $16.25	$15.52
Blended Fair Value	$14.62
Current Price	$8.97
Upside	62.98%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	3.31%	12.79%	0.21	0.21	0.21	0.20	0.18	0.18	0.13	0.13	0.10	0.08
YoY Growth	-	-	0.91%	1.45%	4.78%	8.64%	1.01%	35.13%	5.52%	22.36%	36.54%	18.86%
Dividend Yield	-	-	2.91%	2.49%	1.86%	1.95%	1.48%	1.71%	1.60%	1.55%	1.68%	1.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	10,884.00
(-) Cash Dividends Paid (M)	4,717.00
(=) Cash Retained (M)	6,167.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,176.80	1,360.50	816.30
Cash Retained (M)	6,167.00	6,167.00	6,167.00
(-) Cash Required (M)	-2,176.80	-1,360.50	-816.30
(=) Excess Retained (M)	3,990.20	4,806.50	5,350.70
(/) Shares Outstanding (M)	11,057.75	11,057.75	11,057.75
(=) Excess Retained per Share	0.36	0.43	0.48
LTM Dividend per Share	0.43	0.43	0.43
(+) Excess Retained per Share	0.36	0.43	0.48
(=) Adjusted Dividend	0.79	0.86	0.91
WACC / Discount Rate	8.47%	8.47%	8.47%
Growth Rate	1.06%	2.06%	3.06%
Fair Value	$10.74	$13.71	$17.35
Upside / Downside	19.73%	52.89%	93.38%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	10,884.00	11,108.57	11,337.78	11,571.71	11,810.48	12,054.17	12,415.79
Payout Ratio	43.34%	52.67%	62.00%	71.34%	80.67%	90.00%	92.50%
Projected Dividends (M)	4,717.00	5,851.00	7,029.80	8,254.74	9,527.25	10,848.75	11,484.61

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.47%	8.47%	8.47%
Growth Rate	1.06%	2.06%	3.06%
Year 1 PV (M)	5,341.13	5,393.97	5,446.82
Year 2 PV (M)	5,857.97	5,974.47	6,092.12
Year 3 PV (M)	6,279.29	6,467.54	6,659.51
Year 4 PV (M)	6,615.71	6,881.47	7,155.15
Year 5 PV (M)	6,876.88	7,223.90	7,584.80
PV of Terminal Value (M)	133,016.01	139,728.36	146,709.00
Equity Value (M)	163,986.99	171,669.72	179,647.40
Shares Outstanding (M)	11,057.75	11,057.75	11,057.75
Fair Value	$14.83	$15.52	$16.25
Upside / Downside	65.33%	73.08%	81.12%

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

AIA Group Limited (1299.HK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener