DDM Analysis: ALSO3.SA

Valuation Snapshot

Stable Growth	$663.64 - $1,447.29	$1,356.32
Multi-Stage	$214.12 - $234.60	$224.17
Blended Fair Value	$790.24
Current Price	$22.59
Upside	3,398.20%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	24.01%	15.35%	0.23	0.14	0.00	0.20	0.08	0.08	0.08	0.08	0.08	0.06
YoY Growth	-	-	69.97%	0.00%	-100.00%	146.08%	0.00%	0.00%	0.00%	0.00%	30.00%	9.37%
Dividend Yield	-	-	1.34%	0.60%	0.00%	0.74%	0.27%	0.33%	0.36%	0.50%	0.42%	0.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	3,158.31
(-) Cash Dividends Paid (M)	292.89
(=) Cash Retained (M)	2,865.42

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	631.66	394.79	236.87
Cash Retained (M)	2,865.42	2,865.42	2,865.42
(-) Cash Required (M)	-631.66	-394.79	-236.87
(=) Excess Retained (M)	2,233.75	2,470.63	2,628.54
(/) Shares Outstanding (M)	433.99	433.99	433.99
(=) Excess Retained per Share	5.15	5.69	6.06
LTM Dividend per Share	0.67	0.67	0.67
(+) Excess Retained per Share	5.15	5.69	6.06
(=) Adjusted Dividend	5.82	6.37	6.73
WACC / Discount Rate	6.43%	6.43%	6.43%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$663.64	$1,356.32	$1,447.29
Upside / Downside	2,837.77%	5,904.07%	6,306.75%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	3,158.31	3,363.60	3,582.23	3,815.08	4,063.06	4,327.16	4,456.97
Payout Ratio	9.27%	25.42%	41.56%	57.71%	73.85%	90.00%	92.50%
Projected Dividends (M)	292.89	854.99	1,488.93	2,201.66	3,000.76	3,894.44	4,122.70

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.43%	6.43%	6.43%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	795.83	803.37	810.92
Year 2 PV (M)	1,290.00	1,314.57	1,339.37
Year 3 PV (M)	1,775.51	1,826.47	1,878.41
Year 4 PV (M)	2,252.47	2,339.10	2,428.20
Year 5 PV (M)	2,721.01	2,852.44	2,988.90
PV of Terminal Value (M)	84,089.48	88,151.04	92,368.04
Equity Value (M)	92,924.30	97,286.99	101,813.82
Shares Outstanding (M)	433.99	433.99	433.99
Fair Value	$214.12	$224.17	$234.60
Upside / Downside	847.83%	892.33%	938.51%

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

Aliansce Sonae Shopping Centers S.A. (ALSO3.SA)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener