DDM Analysis: 3308.HK

Valuation Snapshot

Stable Growth	$11.85 - $18.51	$14.92
Multi-Stage	$27.51 - $30.34	$28.90
Blended Fair Value	$21.91
Current Price	$6.03
Upside	263.31%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	0.00%	0.00%	0.00	0.47	0.35	0.28	0.44	0.16	0.28	0.30	0.31	0.21
YoY Growth	-	-	-100.00%	33.11%	24.29%	-35.90%	175.80%	-43.42%	-6.60%	-4.23%	47.99%	-3.78%
Dividend Yield	-	-	0.00%	8.64%	5.91%	3.63%	5.99%	2.02%	2.85%	3.85%	4.52%	2.66%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,052.59
(-) Cash Dividends Paid (M)	195.48
(=) Cash Retained (M)	1,857.11

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	410.52	256.57	153.94
Cash Retained (M)	1,857.11	1,857.11	1,857.11
(-) Cash Required (M)	-410.52	-256.57	-153.94
(=) Excess Retained (M)	1,446.59	1,600.53	1,703.16
(/) Shares Outstanding (M)	1,660.21	1,660.21	1,660.21
(=) Excess Retained per Share	0.87	0.96	1.03
LTM Dividend per Share	0.12	0.12	0.12
(+) Excess Retained per Share	0.87	0.96	1.03
(=) Adjusted Dividend	0.99	1.08	1.14
WACC / Discount Rate	6.18%	6.18%	6.18%
Growth Rate	-2.00%	-1.00%	0.00%
Fair Value	$11.85	$14.92	$18.51
Upside / Downside	96.51%	147.37%	206.89%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,052.59	2,032.06	2,011.74	1,991.62	1,971.71	1,951.99	2,010.55
Payout Ratio	9.52%	25.62%	41.71%	57.81%	73.90%	90.00%	92.50%
Projected Dividends (M)	195.48	520.59	839.18	1,151.35	1,457.18	1,756.79	1,859.76

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.18%	6.18%	6.18%
Growth Rate	-2.00%	-1.00%	0.00%
Year 1 PV (M)	485.34	490.29	495.25
Year 2 PV (M)	729.38	744.34	759.45
Year 3 PV (M)	932.94	961.79	991.23
Year 4 PV (M)	1,100.80	1,146.42	1,193.45
Year 5 PV (M)	1,237.26	1,301.69	1,368.77
PV of Terminal Value (M)	41,189.01	43,333.82	45,567.06
Equity Value (M)	45,674.73	47,978.35	50,375.21
Shares Outstanding (M)	1,660.21	1,660.21	1,660.21
Fair Value	$27.51	$28.90	$30.34
Upside / Downside	356.24%	379.25%	403.20%

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

Golden Eagle Retail Group Limited (3308.HK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener