DDM Analysis: 1504.TW

Valuation Snapshot

Stable Growth	$207.02 - $507.01	$475.15
Multi-Stage	$76.38 - $83.45	$79.85
Blended Fair Value	$277.50
Current Price	$95.10
Upside	191.80%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	23.00%	8.51%	2.36	1.52	1.37	1.17	0.91	0.84	0.82	0.84	0.76	1.04
YoY Growth	-	-	55.39%	11.11%	17.39%	28.19%	8.35%	2.82%	-2.27%	10.00%	-27.27%	0.00%
Dividend Yield	-	-	4.82%	2.70%	3.22%	3.63%	2.81%	3.48%	3.85%	3.38%	2.46%	3.98%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	5,380.34
(-) Cash Dividends Paid (M)	4,729.66
(=) Cash Retained (M)	650.67

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,076.07	672.54	403.53
Cash Retained (M)	650.67	650.67	650.67
(-) Cash Required (M)	-1,076.07	-672.54	-403.53
(=) Excess Retained (M)	-425.39	-21.87	247.15
(/) Shares Outstanding (M)	2,110.42	2,110.42	2,110.42
(=) Excess Retained per Share	-0.20	-0.01	0.12
LTM Dividend per Share	2.24	2.24	2.24
(+) Excess Retained per Share	-0.20	-0.01	0.12
(=) Adjusted Dividend	2.04	2.23	2.36
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$207.02	$475.15	$507.01
Upside / Downside	117.69%	399.63%	433.14%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	5,380.34	5,730.06	6,102.51	6,499.18	6,921.62	7,371.53	7,592.67
Payout Ratio	87.91%	88.33%	88.74%	89.16%	89.58%	90.00%	92.50%
Projected Dividends (M)	4,729.66	5,061.08	5,415.61	5,794.83	6,200.48	6,634.38	7,023.22

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	4,705.83	4,750.44	4,795.04
Year 2 PV (M)	4,682.01	4,771.19	4,861.21
Year 3 PV (M)	4,658.21	4,791.93	4,928.19
Year 4 PV (M)	4,634.43	4,812.66	4,995.97
Year 5 PV (M)	4,610.67	4,833.36	5,064.58
PV of Terminal Value (M)	137,903.26	144,564.04	151,479.74
Equity Value (M)	161,194.40	168,523.61	176,124.73
Shares Outstanding (M)	2,110.42	2,110.42	2,110.42
Fair Value	$76.38	$79.85	$83.45
Upside / Downside	-19.68%	-16.03%	-12.25%

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

TECO Electric & Machinery Co., Ltd. (1504.TW)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener