DDM Analysis: ICC.BK

Valuation Snapshot

Stable Growth	$12.83 - $18.64	$15.65
Multi-Stage	$26.03 - $28.66	$27.32
Blended Fair Value	$21.48
Current Price	$25.25
Upside	-14.92%
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	-1.11%	-0.47%	0.75	0.66	0.23	0.16	0.46	0.80	0.72	0.76	0.69	0.69
YoY Growth	-	-	14.41%	185.71%	40.00%	-64.29%	-42.13%	10.01%	-4.37%	9.53%	-0.03%	-12.47%
Dividend Yield	-	-	3.44%	2.43%	1.14%	0.95%	2.42%	4.09%	3.11%	3.23%	3.13%	3.09%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	779.78
(-) Cash Dividends Paid (M)	230.00
(=) Cash Retained (M)	549.78

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	155.96	97.47	58.48
Cash Retained (M)	549.78	549.78	549.78
(-) Cash Required (M)	-155.96	-97.47	-58.48
(=) Excess Retained (M)	393.82	452.30	491.29
(/) Shares Outstanding (M)	441.77	441.77	441.77
(=) Excess Retained per Share	0.89	1.02	1.11
LTM Dividend per Share	0.52	0.52	0.52
(+) Excess Retained per Share	0.89	1.02	1.11
(=) Adjusted Dividend	1.41	1.54	1.63
WACC / Discount Rate	7.56%	7.56%	7.56%
Growth Rate	-3.11%	-2.11%	-1.11%
Fair Value	$12.83	$15.65	$18.64
Upside / Downside	-49.18%	-38.03%	-26.18%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	779.78	763.35	747.28	731.54	716.13	701.05	722.08
Payout Ratio	29.50%	41.60%	53.70%	65.80%	77.90%	90.00%	92.50%
Projected Dividends (M)	230.00	317.53	401.27	481.34	557.86	630.94	667.93

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.56%	7.56%	7.56%
Growth Rate	-3.11%	-2.11%	-1.11%
Year 1 PV (M)	292.21	295.22	298.24
Year 2 PV (M)	339.82	346.87	353.99
Year 3 PV (M)	375.12	386.85	398.83
Year 4 PV (M)	400.08	416.85	434.15
Year 5 PV (M)	416.41	438.34	461.19
PV of Terminal Value (M)	9,674.88	10,184.54	10,715.46
Equity Value (M)	11,498.50	12,068.68	12,661.86
Shares Outstanding (M)	441.77	441.77	441.77
Fair Value	$26.03	$27.32	$28.66
Upside / Downside	3.08%	8.19%	13.51%

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

I.C.C. International Public Company Limited (ICC.BK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener