DDM Analysis: 002511.SZ

Valuation Snapshot

Stable Growth	$2.45 - $4.15	$3.19
Multi-Stage	$2.84 - $3.11	$2.97
Blended Fair Value	$3.08
Current Price	$8.24
Upside	-62.64%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	29.38%	2.24%	0.08	0.06	0.10	0.10	0.08	0.02	0.06	0.04	0.02	0.00
YoY Growth	-	-	32.69%	-36.81%	-0.10%	31.35%	229.50%	-60.71%	49.85%	100.56%	520.60%	-95.30%
Dividend Yield	-	-	1.29%	0.74%	0.82%	0.83%	0.29%	0.14%	0.60%	0.45%	0.27%	0.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	253.78
(-) Cash Dividends Paid (M)	24.28
(=) Cash Retained (M)	229.51

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	50.76	31.72	19.03
Cash Retained (M)	229.51	229.51	229.51
(-) Cash Required (M)	-50.76	-31.72	-19.03
(=) Excess Retained (M)	178.75	197.78	210.47
(/) Shares Outstanding (M)	1,295.71	1,295.71	1,295.71
(=) Excess Retained per Share	0.14	0.15	0.16
LTM Dividend per Share	0.02	0.02	0.02
(+) Excess Retained per Share	0.14	0.15	0.16
(=) Adjusted Dividend	0.16	0.17	0.18
WACC / Discount Rate	8.75%	8.75%	8.75%
Growth Rate	2.20%	3.20%	4.20%
Fair Value	$2.45	$3.19	$4.15
Upside / Downside	-70.32%	-61.31%	-49.62%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	253.78	261.90	270.29	278.94	287.87	297.08	305.99
Payout Ratio	9.57%	25.65%	41.74%	57.83%	73.91%	90.00%	92.50%
Projected Dividends (M)	24.28	67.18	112.82	161.30	212.77	267.37	283.04

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.75%	8.75%	8.75%
Growth Rate	2.20%	3.20%	4.20%
Year 1 PV (M)	61.18	61.78	62.38
Year 2 PV (M)	93.55	95.39	97.25
Year 3 PV (M)	121.81	125.42	129.10
Year 4 PV (M)	146.32	152.13	158.11
Year 5 PV (M)	167.44	175.79	184.47
PV of Terminal Value (M)	3,083.34	3,237.17	3,397.08
Equity Value (M)	3,673.64	3,847.68	4,028.39
Shares Outstanding (M)	1,295.71	1,295.71	1,295.71
Fair Value	$2.84	$2.97	$3.11
Upside / Downside	-65.59%	-63.96%	-62.27%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 24 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
EXPD	Expeditors International of Washington, Inc.	0.99%	$1.50	24.32%
LISOX	Lazard International Strategic Equity Ptf Open Shares	0.99%	$0.13	36.87%
MXC	Mexco Energy Corporation	0.99%	$0.10	12.25%
NIC	Nicolet Bankshares, Inc.	0.99%	$1.19	12.58%
PAYC	Paycom Software, Inc.	0.99%	$1.51	18.80%
RRC	Range Resources Corporation	0.99%	$0.35	14.60%
WLFC	Willis Lease Finance Corporation	0.99%	$1.32	7.58%
WOR	Worthington Industries, Inc.	0.99%	$0.52	23.95%
CNXN	PC Connection, Inc.	0.98%	$0.56	16.89%
CAT	Caterpillar Inc.	0.97%	$5.78	29.40%
CNK	Cinemark Holdings, Inc.	0.97%	$0.23	18.28%
ECL	Ecolab Inc.	0.97%	$2.54	36.57%
EVR	Evercore Inc.	0.97%	$3.41	27.02%
LSBK	Lake Shore Bancorp, Inc.	0.96%	$0.14	24.34%
0ITL.L	Arthur J. Gallagher & Co.	0.95%	$2.42	39.43%
0IZI.L	W.W. Grainger, Inc.	0.95%	$9.52	26.47%
0L5V.L	The Sherwin-Williams Company	0.95%	$3.11	30.09%
0R2S.L	Stryker Corporation	0.95%	$3.28	43.09%
RRX	Regal Rexnord Corporation	0.95%	$1.39	36.07%
WT	WisdomTree, Inc.	0.95%	$0.12	18.12%
J	Jacobs Solutions Inc.	0.94%	$1.27	53.80%
ORCL	Oracle Corporation	0.94%	$1.84	34.81%
TCBS	Texas Community Bancshares, Inc.	0.94%	$0.17	19.22%
IMKTA	Ingles Markets, Incorporated	0.93%	$0.65	14.68%
ODC	Oil-Dri Corporation of America	0.93%	$0.45	12.28%
PENG	Penguin Solutions, Inc.	0.93%	$0.19	40.17%
SSBK	Southern States Bancshares, Inc.	0.93%	$0.34	9.19%
DAL	Delta Air Lines, Inc.	0.92%	$0.63	8.94%
HIFS	Hingham Institution for Savings	0.92%	$2.49	12.15%
RL	Ralph Lauren Corporation	0.92%	$3.34	24.37%
OPY	Oppenheimer Holdings Inc.	0.91%	$0.66	8.90%
BGC	BGC Group, Inc	0.90%	$0.08	23.56%
CDRE	Cadre Holdings, Inc.	0.90%	$0.37	33.35%
MBNKP	Medallion Bank	0.90%	$0.23	12.50%
JBHT	J.B. Hunt Transport Services, Inc.	0.89%	$1.75	30.14%
NYT	The New York Times Company	0.89%	$0.62	30.32%
RMD	ResMed Inc.	0.89%	$2.18	22.31%
VBFC	Village Bank and Trust Financial Corp.	0.89%	$0.72	15.35%
0I14.L	Cognex Corporation	0.88%	$0.32	49.16%
AR	Antero Resources Corporation	0.88%	$0.30	17.15%
LDOS	Leidos Holdings, Inc.	0.88%	$1.61	14.88%
LMAT	LeMaitre Vascular, Inc.	0.88%	$0.70	32.20%
NNI	Nelnet, Inc.	0.88%	$1.14	9.52%
PFSI	PennyMac Financial Services, Inc.	0.88%	$1.16	12.49%
SMBK	SmartFinancial, Inc.	0.88%	$0.32	11.76%
BYD	Boyd Gaming Corporation	0.87%	$0.75	3.22%
ROST	Ross Stores, Inc.	0.87%	$1.59	24.85%
BBSI	Barrett Business Services, Inc.	0.86%	$0.31	15.02%
BCO	The Brink's Company	0.86%	$1.00	24.81%
HXL	Hexcel Corporation	0.86%	$0.66	77.18%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

C&S Paper Co.,Ltd (002511.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener