Definitive Analysis
| Stable Growth | $30,412.86 - $109,727.12 | $96,798.96 |
| Multi-Stage | $14,452.98 - $15,782.65 | $15,105.75 |
| Blended Fair Value | $55,952.35 | |
| Current Price | $4,400.00 | |
| Upside | 1,171.64% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 24.03% | 19.72% | 353.96 | 264.67 | 180.18 | 110.05 | 177.49 | 120.61 | 99.51 | 66.57 | 65.36 | 53.23 |
| YoY Growth | - | - | 33.74% | 46.89% | 63.72% | -38.00% | 47.17% | 21.20% | 49.49% | 1.84% | 22.80% | -9.03% |
| Dividend Yield | - | - | 6.81% | 3.84% | 3.49% | 2.79% | 5.77% | 5.15% | 2.68% | 1.73% | 2.23% | 2.07% |
| Net Income To Common (M) | 51,495,530.00 |
| (-) Cash Dividends Paid (M) | 43,510,539.00 |
| (=) Cash Retained (M) | 7,984,991.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 10,299,106.00 | 6,436,941.25 | 3,862,164.75 |
| Cash Retained (M) | 7,984,991.00 | 7,984,991.00 | 7,984,991.00 |
| (-) Cash Required (M) | -10,299,106.00 | -6,436,941.25 | -3,862,164.75 |
| (=) Excess Retained (M) | -2,314,115.00 | 1,548,049.75 | 4,122,826.25 |
| (/) Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| (=) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| LTM Dividend per Share | 466.19 | 466.19 | 466.19 |
| (+) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| (=) Adjusted Dividend | 441.39 | 482.77 | 510.36 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,412.86 | $96,798.96 | $109,727.12 |
| Upside / Downside | 591.20% | 2,099.98% | 2,393.80% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 51,495,530.00 | 54,842,739.45 | 58,407,517.51 | 62,204,006.15 | 66,247,266.55 | 70,553,338.88 | 72,669,939.04 |
| Payout Ratio | 84.49% | 85.60% | 86.70% | 87.80% | 88.90% | 90.00% | 92.50% |
| Projected Dividends (M) | 43,510,539.00 | 46,942,672.33 | 50,637,150.96 | 54,613,579.03 | 58,893,000.78 | 63,498,004.99 | 67,219,693.62 |
| 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) | 43,447,065.78 | 43,858,886.31 | 44,270,706.84 |
| Year 2 PV (M) | 43,376,504.07 | 44,202,704.64 | 45,036,699.55 |
| Year 3 PV (M) | 43,299,069.67 | 44,542,030.35 | 45,808,553.58 |
| Year 4 PV (M) | 43,214,973.65 | 44,876,899.58 | 46,586,305.57 |
| Year 5 PV (M) | 43,124,422.46 | 45,207,348.19 | 47,369,992.39 |
| PV of Terminal Value (M) | 1,132,479,389.06 | 1,187,178,567.00 | 1,243,971,211.24 |
| Equity Value (M) | 1,348,941,424.69 | 1,409,866,436.08 | 1,473,043,469.17 |
| Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| Fair Value | $14,452.98 | $15,105.75 | $15,782.65 |
| Upside / Downside | 228.48% | 243.31% | 258.70% |
| 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% |