Definitive Analysis
| Stable Growth | $30,854.73 - $111,321.37 | $98,205.37 |
| Multi-Stage | $14,471.16 - $15,812.82 | $15,129.78 |
| Blended Fair Value | $56,667.57 | |
| Current Price | $4,120.00 | |
| Upside | 1,275.43% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.74% | 14.43% | 280.46 | 196.50 | 73.09 | 22.00 | 103.18 | 100.70 | 127.85 | 106.46 | 60.81 | 72.31 |
| YoY Growth | - | - | 42.73% | 168.84% | 232.23% | -78.68% | 2.46% | -21.23% | 20.09% | 75.07% | -15.91% | -0.76% |
| Dividend Yield | - | - | 6.61% | 3.48% | 1.56% | 0.53% | 3.60% | 5.27% | 2.72% | 2.45% | 1.88% | 2.78% |
| Net Income To Common (M) | 20,866,036.00 |
| (-) Cash Dividends Paid (M) | 13,951,339.00 |
| (=) Cash Retained (M) | 6,914,697.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,173,207.20 | 2,608,254.50 | 1,564,952.70 |
| Cash Retained (M) | 6,914,697.00 | 6,914,697.00 | 6,914,697.00 |
| (-) Cash Required (M) | -4,173,207.20 | -2,608,254.50 | -1,564,952.70 |
| (=) Excess Retained (M) | 2,741,489.80 | 4,306,442.50 | 5,349,744.30 |
| (/) Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| (=) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| LTM Dividend per Share | 374.26 | 374.26 | 374.26 |
| (+) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| (=) Adjusted Dividend | 447.80 | 489.79 | 517.77 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,854.73 | $98,205.37 | $111,321.37 |
| Upside / Downside | 648.90% | 2,283.63% | 2,601.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 20,866,036.00 | 22,222,328.34 | 23,666,779.68 | 25,205,120.36 | 26,843,453.18 | 28,588,277.64 | 29,445,925.97 |
| Payout Ratio | 66.86% | 71.49% | 76.12% | 80.74% | 85.37% | 90.00% | 92.50% |
| Projected Dividends (M) | 13,951,339.00 | 15,886,559.93 | 18,014,415.17 | 20,351,770.88 | 22,916,871.93 | 25,729,449.88 | 27,237,481.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 14,703,560.32 | 14,842,930.56 | 14,982,300.80 |
| Year 2 PV (M) | 15,431,404.38 | 15,725,329.29 | 16,022,027.07 |
| Year 3 PV (M) | 16,135,414.69 | 16,598,604.46 | 17,070,574.82 |
| Year 4 PV (M) | 16,816,124.21 | 17,462,824.89 | 18,128,001.36 |
| Year 5 PV (M) | 17,474,055.54 | 18,318,058.96 | 19,194,364.37 |
| PV of Terminal Value (M) | 458,881,687.43 | 481,045,844.51 | 504,058,276.06 |
| Equity Value (M) | 539,442,246.57 | 563,993,592.68 | 589,455,544.49 |
| Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| Fair Value | $14,471.16 | $15,129.78 | $15,812.82 |
| Upside / Downside | 251.24% | 267.23% | 283.81% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 002293.SZ | Luolai Lifestyle Technology Co., Ltd. | 5.90% | $0.61 | 98.42% |
| KLBN11.SA | Klabin S.A. | 5.90% | $1.13 | 79.59% |
| T9Z.DE | Zumtobel Group AG | 5.89% | $0.25 | 68.81% |
| 4006.KL | Oriental Holdings Berhad | 5.88% | $0.40 | 91.37% |
| 7231.KL | Wellcall Holdings Berhad | 5.88% | $0.08 | 98.90% |
| ALBAV.HE | Ålandsbanken Abp | 5.88% | $2.83 | 80.11% |
| HSPG.OL | Høland og Setskog Sparebank | 5.88% | $9.00 | 9.64% |
| TAEE3.SA | Transmissora Aliança de Energia Elétrica S.A. | 5.88% | $0.82 | 49.16% |
| 095570.KS | AJ Networks Co.,Ltd. | 5.87% | $269.89 | 46.78% |
| CONSTI.HE | Consti Oyj | 5.87% | $0.63 | 79.88% |
| DEDI.ST | Dedicare AB (publ) | 5.87% | $2.50 | 59.86% |
| SUC.BK | Saha-Union Public Company Limited | 5.87% | $1.60 | 26.76% |
| 0QQF.L | Mikron Holding AG | 5.85% | $1.20 | 32.60% |
| 0RNX.L | Ambea AB (publ) | 5.85% | $2.19 | 27.21% |
| 3459.T | Samty Residential Investment Corporation | 5.85% | $6,816.28 | 84.59% |
| PLAT.AT | Thrace Plastics Holding Company S.A. | 5.85% | $0.24 | 85.91% |
| 7229.KL | Favelle Favco Berhad | 5.84% | $0.09 | 31.57% |
| M-II.BK | MFC Industrial Investment Property and Leasehold Fund | 5.83% | $0.35 | 44.44% |
| NOHO.HE | NoHo Partners Oyj | 5.83% | $0.48 | 29.48% |
| 0QN7.L | Vaudoise Assurances Holding S.A. | 5.82% | $42.41 | 42.05% |
| 4164.SR | Nahdi Medical Company | 5.81% | $5.60 | 89.58% |
| 5511.TWO | Te Chang Construction Co., Ltd. | 5.81% | $3.79 | 46.23% |
| PPA.AT | Piraeus Port Authority S.A. | 5.81% | $2.38 | 38.50% |
| WHA-R.BK | WHA Corporation Public Company Limited | 5.81% | $0.19 | 57.71% |
| MULTI.OL | Multiconsult ASA | 5.80% | $10.18 | 91.58% |
| QIMD.QA | Qatar Industrial Manufacturing Company Q.P.S.C. | 5.80% | $0.14 | 48.99% |
| 000791.SZ | GEPIC Energy Development Co., Ltd. | 5.79% | $0.37 | 46.47% |
| 0NFS.L | Esprinet S.p.A. | 5.79% | $0.36 | 93.72% |
| MYS.AX | MyState Limited | 5.79% | $0.26 | 70.40% |
| 5299.TWO | Excelliance MOS Corporation | 5.78% | $4.14 | 93.57% |
| 8987.T | Japan Excellent, Inc. | 5.78% | $8,618.11 | 68.54% |
| 9528.SR | Gas Arabian Services Company | 5.78% | $0.98 | 77.70% |
| PLS.AX | PLS Group Limited | 5.78% | $0.25 | 56.17% |
| 1104.HK | APAC Resources Limited | 5.77% | $0.15 | 33.87% |
| 9525.SR | Alwasail Industrial Company | 5.77% | $0.20 | 85.38% |
| CBA.AX | Commonwealth Bank of Australia | 5.77% | $9.30 | 79.76% |
| GSL | Global Ship Lease, Inc. | 5.77% | $2.01 | 17.72% |
| 5138.KL | Hap Seng Plantations Holdings Berhad | 5.76% | $0.13 | 55.68% |
| 601088.SS | China Shenhua Energy Company Limited | 5.76% | $2.33 | 81.35% |
| ALI.AX | Argo Global Listed Infrastructure Limited | 5.76% | $0.15 | 10.56% |
| 000755.SZ | Shanxi Hi-speed Group Co., Ltd. | 5.75% | $0.29 | 89.22% |
| EELT.ME | European Eltech Public Joint Stock Company | 5.75% | $0.52 | 36.41% |
| 1846.HK | EuroEyes International Eye Clinic Limited | 5.74% | $0.17 | 29.90% |
| 9296.KL | RCE Capital Berhad | 5.74% | $0.06 | 92.92% |
| BELA.AT | Jumbo S.A. | 5.74% | $1.60 | 68.01% |
| GRP-UN | Granite Real Estate Investment Trust | 5.74% | $3.40 | 71.71% |
| 6199.HK | Bank of Guizhou Co., Ltd. | 5.73% | $0.06 | 24.27% |
| 6581.TW | Taiwan Steel Union Co., Ltd | 5.73% | $5.99 | 88.31% |
| HAIS.JK | PT Hasnur Internasional Shipping Tbk | 5.73% | $15.37 | 40.52% |
| HTSC.L | Huatai Securities Co., Ltd. | 5.73% | $1.26 | 68.65% |