Definitive Analysis
| Stable Growth | $2,739,110.19 - $6,230,670.24 | $5,839,050.49 |
| Multi-Stage | $957,855.90 - $1,046,743.83 | $1,001,489.69 |
| Blended Fair Value | $3,420,270.09 | |
| Current Price | $414,000.00 | |
| Upside | 726.15% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 9.69% | 3.05% | 26,999.71 | 17,999.81 | 18,999.80 | 13,999.85 | 15,999.83 | 16,999.82 | 18,999.80 | 16,999.82 | 19,999.78 | 18,999.80 |
| YoY Growth | - | - | 50.00% | -5.26% | 35.71% | -12.50% | -5.88% | -10.53% | 11.76% | -15.00% | 5.26% | -5.00% |
| Dividend Yield | - | - | 8.19% | 7.04% | 8.26% | 5.52% | 6.35% | 6.91% | 5.90% | 5.01% | 5.03% | 3.86% |
| Net Income To Common (M) | 40,728.89 |
| (-) Cash Dividends Paid (M) | 35,100.00 |
| (=) Cash Retained (M) | 5,628.89 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 8,145.78 | 5,091.11 | 3,054.67 |
| Cash Retained (M) | 5,628.89 | 5,628.89 | 5,628.89 |
| (-) Cash Required (M) | -8,145.78 | -5,091.11 | -3,054.67 |
| (=) Excess Retained (M) | -2,516.89 | 537.78 | 2,574.23 |
| (/) Shares Outstanding (M) | 1.30 | 1.30 | 1.30 |
| (=) Excess Retained per Share | -1,936.05 | 413.67 | 1,980.15 |
| LTM Dividend per Share | 26,999.71 | 26,999.71 | 26,999.71 |
| (+) Excess Retained per Share | -1,936.05 | 413.67 | 1,980.15 |
| (=) Adjusted Dividend | 25,063.66 | 27,413.38 | 28,979.86 |
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $2,739,110.19 | $5,839,050.49 | $6,230,670.24 |
| Upside / Downside | 561.62% | 1,310.40% | 1,404.99% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 40,728.89 | 43,376.27 | 46,195.73 | 49,198.45 | 52,396.35 | 55,802.11 | 57,476.18 |
| Payout Ratio | 86.18% | 86.94% | 87.71% | 88.47% | 89.24% | 90.00% | 92.50% |
| Projected Dividends (M) | 35,100.00 | 37,712.93 | 40,517.24 | 43,526.78 | 46,756.37 | 50,221.90 | 53,165.46 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 35,090.12 | 35,422.72 | 35,755.33 |
| Year 2 PV (M) | 35,077.53 | 35,745.65 | 36,420.08 |
| Year 3 PV (M) | 35,062.28 | 36,068.79 | 37,094.38 |
| Year 4 PV (M) | 35,044.42 | 36,392.13 | 37,778.35 |
| Year 5 PV (M) | 35,024.01 | 36,715.68 | 38,472.10 |
| PV of Terminal Value (M) | 1,069,927.73 | 1,121,605.64 | 1,175,261.38 |
| Equity Value (M) | 1,245,226.08 | 1,301,950.62 | 1,360,781.63 |
| Shares Outstanding (M) | 1.30 | 1.30 | 1.30 |
| Fair Value | $957,855.90 | $1,001,489.69 | $1,046,743.83 |
| Upside / Downside | 131.37% | 141.91% | 152.84% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| TC.BK | Tropical Canning (Thailand) Public Company Limited | 6.05% | $0.30 | 42.33% |
| 8984.T | Daiwa House REIT Investment Corporation | 6.04% | $8,653.99 | 81.69% |
| 0R40.L | Rai Way S.p.A. | 6.03% | $0.33 | 99.60% |
| 3600.HK | Modern Dental Group Limited | 6.03% | $0.32 | 34.31% |
| 003460.KS | Yuhwa Securities co.,ltd. | 6.02% | $162.45 | 83.00% |
| 298540.KQ | The Nature Holdings Co., Ltd. | 6.02% | $521.44 | 76.58% |
| 6263.TWO | Planet Technology Corporation | 6.02% | $7.86 | 95.87% |
| NZX.NZ | NZX Limited | 6.02% | $0.09 | 77.46% |
| WLMM3.SA | WLM Participações e Comércio de Máquinas e Veículos S.A. | 6.02% | $1.23 | 40.06% |
| 1760.HK | Intron Technology Holdings Limited | 6.01% | $0.12 | 30.56% |
| 5209.KL | Gas Malaysia Berhad | 6.01% | $0.26 | 82.61% |
| ALLAN.PA | Lanson-BCC | 6.01% | $1.96 | 26.09% |
| QAMC.QA | Qatar Aluminium Manufacturing Company Q.P.S.C. | 6.00% | $0.10 | 74.36% |
| 0237.HK | Safety Godown Company, Limited | 5.99% | $0.12 | 71.07% |
| 8986.T | Daiwa Securities Living Investment Corporation | 5.99% | $6,829.90 | 63.32% |
| ASX.AX | ASX Limited | 5.99% | $3.08 | 67.16% |
| MKP.TO | MCAN Mortgage Corporation | 5.99% | $1.35 | 74.01% |
| 0QMU.L | Compagnie Financière Richemont S.A. | 5.98% | $6.91 | 67.79% |
| 8924.TWO | O-TA Precision Industry Co., Ltd. | 5.98% | $4.29 | 80.38% |
| FMTY14.MX | Fibra Mty, S.A.P.I. de C.V. | 5.98% | $0.93 | 46.45% |
| HUMAN.BK | Humanica Public Company Limited | 5.98% | $0.30 | 74.76% |
| 603368.SS | Guangxi LiuYao Group Co., Ltd | 5.97% | $1.06 | 53.83% |
| 6069.HK | SY Holdings Group Limited | 5.97% | $0.67 | 97.72% |
| ASII.JK | PT Astra International Tbk | 5.97% | $405.75 | 50.28% |
| PXT.TO | Parex Resources Inc. | 5.97% | $1.12 | 86.22% |
| SB | Safe Bulkers, Inc. | 5.97% | $0.29 | 64.01% |
| 1562.KL | Sports Toto Berhad | 5.96% | $0.08 | 49.23% |
| 8442.TW | WW Holding Inc. | 5.96% | $4.19 | 72.79% |
| NTV.BK | Nonthavej Hospital Public Company Limited | 5.96% | $1.37 | 66.11% |
| WLE.AX | WAM Leaders Limited | 5.96% | $0.08 | 8.04% |
| 094280.KS | Hyosung ITX Co. Ltd. | 5.95% | $751.76 | 70.97% |
| O3P.DE | Österreichische Post AG | 5.95% | $1.88 | 98.14% |
| PWO.DE | PWO AG | 5.95% | $1.75 | 48.89% |
| 0898.HK | Multifield International Holdings Limited | 5.94% | $0.06 | 9.32% |
| 1155.KL | Malayan Banking Berhad | 5.94% | $0.62 | 72.18% |
| PORT3.SA | Wilson Sons S.A. | 5.94% | $1.11 | 73.49% |
| 009680.KS | Motonic Corporation | 5.93% | $599.08 | 42.49% |
| 3010.SR | Arabian Cement Company | 5.93% | $1.29 | 91.83% |
| PGW.NZ | PGG Wrightson Limited | 5.93% | $0.13 | 70.38% |
| 0GX2.L | Neurones S.A. | 5.92% | $2.49 | 61.25% |
| 4012.SR | Thob Al Aseel Company | 5.92% | $0.20 | 89.05% |
| 9585.SR | Mulkia Investment Co. | 5.92% | $2.01 | 37.97% |
| HEN.DE | Henkel AG & Co. KGaA | 5.92% | $3.87 | 41.88% |
| KKP.BK | Kiatnakin Phatra Bank Public Company Limited | 5.92% | $4.02 | 63.80% |
| 030000.KS | Cheil Worldwide Inc. | 5.91% | $1,232.93 | 68.46% |
| 0RCW.L | Kid ASA | 5.91% | $8.00 | 99.60% |
| ARSA.ME | Arsagera Asset Management | 5.91% | $0.50 | 52.65% |
| DBM.TO | Doman Building Materials Group Ltd. | 5.91% | $0.56 | 65.99% |
| DU.AE | Emirates Integrated Telecommunications Company PJSC | 5.91% | $0.58 | 95.05% |
| NXR-UN.TO | Nexus Industrial REIT | 5.91% | $0.47 | 57.77% |