DDM Analysis: 002056.SZ

Valuation Snapshot

Stable Growth	$139.71 - $292.74	$274.34
Multi-Stage	$44.43 - $48.64	$46.50
Blended Fair Value	$160.42
Current Price	$20.49
Upside	682.92%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	21.47%	23.34%	0.41	0.39	0.26	0.24	0.16	0.15	0.11	0.06	0.07	0.09
YoY Growth	-	-	4.20%	50.23%	9.64%	46.58%	5.13%	34.98%	81.09%	-15.17%	-21.66%	89.64%
Dividend Yield	-	-	2.64%	2.62%	1.26%	1.74%	1.06%	1.53%	1.55%	0.65%	0.93%	1.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,352.92
(-) Cash Dividends Paid (M)	727.50
(=) Cash Retained (M)	1,625.42

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	470.58	294.12	176.47
Cash Retained (M)	1,625.42	1,625.42	1,625.42
(-) Cash Required (M)	-470.58	-294.12	-176.47
(=) Excess Retained (M)	1,154.84	1,331.31	1,448.95
(/) Shares Outstanding (M)	1,598.45	1,598.45	1,598.45
(=) Excess Retained per Share	0.72	0.83	0.91
LTM Dividend per Share	0.46	0.46	0.46
(+) Excess Retained per Share	0.72	0.83	0.91
(=) Adjusted Dividend	1.18	1.29	1.36
WACC / Discount Rate	6.39%	6.39%	6.39%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$139.71	$274.34	$292.74
Upside / Downside	581.83%	1,238.92%	1,328.72%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,352.92	2,505.86	2,668.75	2,842.21	3,026.96	3,223.71	3,320.42
Payout Ratio	30.92%	42.74%	54.55%	66.37%	78.18%	90.00%	92.50%
Projected Dividends (M)	727.50	1,070.89	1,455.84	1,886.31	2,366.59	2,901.34	3,071.39

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.39%	6.39%	6.39%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	997.12	1,006.57	1,016.03
Year 2 PV (M)	1,262.19	1,286.23	1,310.49
Year 3 PV (M)	1,522.75	1,566.46	1,611.00
Year 4 PV (M)	1,778.87	1,847.28	1,917.64
Year 5 PV (M)	2,030.60	2,128.68	2,230.51
PV of Terminal Value (M)	63,424.15	66,487.56	69,668.22
Equity Value (M)	71,015.67	74,322.77	77,753.89
Shares Outstanding (M)	1,598.45	1,598.45	1,598.45
Fair Value	$44.43	$46.50	$48.64
Upside / Downside	116.83%	126.92%	137.40%

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

Hengdian Group DMEGC Magnetics Co. ,Ltd (002056.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener