DDM Analysis: 3784.T

Valuation Snapshot

Stable Growth	$2,505.75 - $5,752.97	$3,656.77
Multi-Stage	$1,748.71 - $1,912.25	$1,828.99
Blended Fair Value	$2,742.88
Current Price	$1,289.00
Upside	112.79%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	23.69%	23.33%	30.47	14.49	14.49	7.69	10.53	10.53	10.50	12.99	7.01	3.74
YoY Growth	-	-	110.33%	0.00%	88.33%	-26.93%	0.02%	0.23%	-19.18%	85.30%	87.35%	0.00%
Dividend Yield	-	-	2.27%	1.25%	1.31%	1.11%	0.85%	2.18%	3.33%	2.73%	1.55%	0.87%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,053.13
(-) Cash Dividends Paid (M)	85.05
(=) Cash Retained (M)	1,968.08

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	410.63	256.64	153.98
Cash Retained (M)	1,968.08	1,968.08	1,968.08
(-) Cash Required (M)	-410.63	-256.64	-153.98
(=) Excess Retained (M)	1,557.45	1,711.44	1,814.09
(/) Shares Outstanding (M)	16.83	16.83	16.83
(=) Excess Retained per Share	92.52	101.67	107.77
LTM Dividend per Share	5.05	5.05	5.05
(+) Excess Retained per Share	92.52	101.67	107.77
(=) Adjusted Dividend	97.57	106.72	112.82
WACC / Discount Rate	9.61%	9.61%	9.61%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$2,505.75	$3,656.77	$5,752.97
Upside / Downside	94.39%	183.69%	346.31%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,053.13	2,186.58	2,328.71	2,480.08	2,641.28	2,812.96	2,897.35
Payout Ratio	4.14%	21.31%	38.49%	55.66%	72.83%	90.00%	92.50%
Projected Dividends (M)	85.05	466.05	896.21	1,380.34	1,923.60	2,531.67	2,680.05

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.61%	9.61%	9.61%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	421.20	425.19	429.19
Year 2 PV (M)	732.04	745.98	760.05
Year 3 PV (M)	1,018.98	1,048.23	1,078.03
Year 4 PV (M)	1,283.38	1,332.74	1,383.50
Year 5 PV (M)	1,526.54	1,600.27	1,676.82
PV of Terminal Value (M)	24,454.83	25,636.01	26,862.39
Equity Value (M)	29,436.96	30,788.41	32,189.99
Shares Outstanding (M)	16.83	16.83	16.83
Fair Value	$1,748.71	$1,828.99	$1,912.25
Upside / Downside	35.66%	41.89%	48.35%

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

Vinx Corp. (3784.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener