DDM Analysis: 002703.SZ

Valuation Snapshot

Stable Growth	$4.47 - $9.85	$6.43
Multi-Stage	$3.25 - $3.55	$3.40
Blended Fair Value	$4.91
Current Price	$14.05
Upside	-65.03%
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	51.67%	-4.65%	0.03	0.01	0.01	0.01	0.01	0.00	0.00	0.04	0.04	0.05
YoY Growth	-	-	234.34%	49.02%	9.27%	4.99%	40.43%	107.15%	-95.43%	-0.84%	-15.87%	-2.12%
Dividend Yield	-	-	0.24%	0.06%	0.07%	0.10%	0.10%	0.08%	0.03%	0.61%	0.30%	0.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	186.82
(-) Cash Dividends Paid (M)	49.92
(=) Cash Retained (M)	136.90

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	37.36	23.35	14.01
Cash Retained (M)	136.90	136.90	136.90
(-) Cash Required (M)	-37.36	-23.35	-14.01
(=) Excess Retained (M)	99.53	113.55	122.89
(/) Shares Outstanding (M)	822.78	822.78	822.78
(=) Excess Retained per Share	0.12	0.14	0.15
LTM Dividend per Share	0.06	0.06	0.06
(+) Excess Retained per Share	0.12	0.14	0.15
(=) Adjusted Dividend	0.18	0.20	0.21
WACC / Discount Rate	9.79%	9.79%	9.79%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$4.47	$6.43	$9.85
Upside / Downside	-68.22%	-54.25%	-29.88%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	186.82	198.96	211.89	225.66	240.33	255.95	263.63
Payout Ratio	26.72%	39.38%	52.03%	64.69%	77.34%	90.00%	92.50%
Projected Dividends (M)	49.92	78.34	110.25	145.98	185.88	230.36	243.86

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.79%	9.79%	9.79%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	70.69	71.36	72.03
Year 2 PV (M)	89.75	91.46	93.19
Year 3 PV (M)	107.22	110.30	113.44
Year 4 PV (M)	123.19	127.93	132.80
Year 5 PV (M)	137.74	144.40	151.30
PV of Terminal Value (M)	2,147.03	2,250.73	2,358.40
Equity Value (M)	2,675.62	2,796.17	2,921.16
Shares Outstanding (M)	822.78	822.78	822.78
Fair Value	$3.25	$3.40	$3.55
Upside / Downside	-76.85%	-75.81%	-74.73%

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

Zhejiang Shibao Company Limited (002703.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener