DDM Analysis: 3430.TWO

Valuation Snapshot

Stable Growth	$41.48 - $71.69	$54.48
Multi-Stage	$77.08 - $84.59	$80.77
Blended Fair Value	$67.62
Current Price	$77.00
Upside	-12.18%
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	-2.55%	1.68%	1.96	2.94	1.73	0.42	0.37	2.23	0.64	0.24	0.15	0.77
YoY Growth	-	-	-33.33%	70.08%	307.99%	16.11%	-83.64%	250.61%	166.68%	54.49%	-80.00%	-53.49%
Dividend Yield	-	-	3.56%	6.31%	3.17%	0.66%	1.10%	8.89%	0.99%	1.20%	0.90%	4.48%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	112.09
(-) Cash Dividends Paid (M)	84.29
(=) Cash Retained (M)	27.80

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	22.42	14.01	8.41
Cash Retained (M)	27.80	27.80	27.80
(-) Cash Required (M)	-22.42	-14.01	-8.41
(=) Excess Retained (M)	5.38	13.79	19.39
(/) Shares Outstanding (M)	34.39	34.39	34.39
(=) Excess Retained per Share	0.16	0.40	0.56
LTM Dividend per Share	2.45	2.45	2.45
(+) Excess Retained per Share	0.16	0.40	0.56
(=) Adjusted Dividend	2.61	2.85	3.01
WACC / Discount Rate	6.49%	6.49%	6.49%
Growth Rate	0.19%	1.19%	2.19%
Fair Value	$41.48	$54.48	$71.69
Upside / Downside	-46.12%	-29.25%	-6.89%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	112.09	113.42	114.77	116.13	117.51	118.91	122.48
Payout Ratio	75.20%	78.16%	81.12%	84.08%	87.04%	90.00%	92.50%
Projected Dividends (M)	84.29	88.65	93.10	97.64	102.28	107.02	113.29

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.49%	6.49%	6.49%
Growth Rate	0.19%	1.19%	2.19%
Year 1 PV (M)	82.43	83.25	84.07
Year 2 PV (M)	80.49	82.10	83.73
Year 3 PV (M)	78.49	80.87	83.29
Year 4 PV (M)	76.45	79.55	82.74
Year 5 PV (M)	74.37	78.16	82.10
PV of Terminal Value (M)	2,258.52	2,373.50	2,493.12
Equity Value (M)	2,650.75	2,777.43	2,909.06
Shares Outstanding (M)	34.39	34.39	34.39
Fair Value	$77.08	$80.77	$84.59
Upside / Downside	0.11%	4.89%	9.86%

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

Ticker

Industry

Sector

Chitec Technology Co., Ltd. (3430.TWO)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener