DDM Analysis: JCI

Valuation Snapshot

Stable Growth	$35.39 - $62.37	$46.84
Multi-Stage	$45.25 - $49.52	$47.35
Blended Fair Value	$47.09
Current Price	$109.95
Upside	-57.17%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	4.32%	4.04%	1.49	1.52	1.49	1.39	1.16	1.20	1.40	1.45	1.07	1.39
YoY Growth	-	-	-2.40%	2.04%	6.99%	20.21%	-3.54%	-14.13%	-3.56%	35.90%	-23.28%	39.27%
Dividend Yield	-	-	1.35%	1.93%	2.59%	2.18%	1.43%	2.58%	3.44%	4.90%	2.80%	3.38%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,721.00
(-) Cash Dividends Paid (M)	976.00
(=) Cash Retained (M)	745.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	344.20	215.13	129.08
Cash Retained (M)	745.00	745.00	745.00
(-) Cash Required (M)	-344.20	-215.13	-129.08
(=) Excess Retained (M)	400.80	529.88	615.93
(/) Shares Outstanding (M)	656.95	656.95	656.95
(=) Excess Retained per Share	0.61	0.81	0.94
LTM Dividend per Share	1.49	1.49	1.49
(+) Excess Retained per Share	0.61	0.81	0.94
(=) Adjusted Dividend	2.10	2.29	2.42
WACC / Discount Rate	8.08%	8.08%	8.08%
Growth Rate	2.04%	3.04%	4.04%
Fair Value	$35.39	$46.84	$62.37
Upside / Downside	-67.81%	-57.40%	-43.28%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,721.00	1,773.27	1,827.13	1,882.62	1,939.80	1,998.71	2,058.67
Payout Ratio	56.71%	63.37%	70.03%	76.68%	83.34%	90.00%	92.50%
Projected Dividends (M)	976.00	1,123.70	1,279.48	1,443.68	1,616.67	1,798.84	1,904.27

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.08%	8.08%	8.08%
Growth Rate	2.04%	3.04%	4.04%
Year 1 PV (M)	1,029.61	1,039.70	1,049.79
Year 2 PV (M)	1,074.18	1,095.34	1,116.70
Year 3 PV (M)	1,110.54	1,143.52	1,177.13
Year 4 PV (M)	1,139.49	1,184.82	1,231.49
Year 5 PV (M)	1,161.72	1,219.77	1,280.13
PV of Terminal Value (M)	24,212.12	25,422.04	26,679.85
Equity Value (M)	29,727.66	31,105.18	32,535.09
Shares Outstanding (M)	656.95	656.95	656.95
Fair Value	$45.25	$47.35	$49.52
Upside / Downside	-58.84%	-56.94%	-54.96%

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

Johnson Controls International plc (JCI)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener