DDM Analysis: 3784.T

Valuation Snapshot

Stable Growth	$2,505.75 - $5,752.97	$3,656.77
Multi-Stage	$1,748.71 - $1,912.25	$1,828.99
Blended Fair Value	$2,742.88
Current Price	$1,289.00
Upside	112.79%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	23.69%	23.33%	30.47	14.49	14.49	7.69	10.53	10.53	10.50	12.99	7.01	3.74
YoY Growth	-	-	110.33%	0.00%	88.33%	-26.93%	0.02%	0.23%	-19.18%	85.30%	87.35%	0.00%
Dividend Yield	-	-	2.27%	1.25%	1.31%	1.11%	0.85%	2.18%	3.33%	2.73%	1.55%	0.87%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,053.13
(-) Cash Dividends Paid (M)	85.05
(=) Cash Retained (M)	1,968.08

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	410.63	256.64	153.98
Cash Retained (M)	1,968.08	1,968.08	1,968.08
(-) Cash Required (M)	-410.63	-256.64	-153.98
(=) Excess Retained (M)	1,557.45	1,711.44	1,814.09
(/) Shares Outstanding (M)	16.83	16.83	16.83
(=) Excess Retained per Share	92.52	101.67	107.77
LTM Dividend per Share	5.05	5.05	5.05
(+) Excess Retained per Share	92.52	101.67	107.77
(=) Adjusted Dividend	97.57	106.72	112.82
WACC / Discount Rate	9.61%	9.61%	9.61%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$2,505.75	$3,656.77	$5,752.97
Upside / Downside	94.39%	183.69%	346.31%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,053.13	2,186.58	2,328.71	2,480.08	2,641.28	2,812.96	2,897.35
Payout Ratio	4.14%	21.31%	38.49%	55.66%	72.83%	90.00%	92.50%
Projected Dividends (M)	85.05	466.05	896.21	1,380.34	1,923.60	2,531.67	2,680.05

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.61%	9.61%	9.61%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	421.20	425.19	429.19
Year 2 PV (M)	732.04	745.98	760.05
Year 3 PV (M)	1,018.98	1,048.23	1,078.03
Year 4 PV (M)	1,283.38	1,332.74	1,383.50
Year 5 PV (M)	1,526.54	1,600.27	1,676.82
PV of Terminal Value (M)	24,454.83	25,636.01	26,862.39
Equity Value (M)	29,436.96	30,788.41	32,189.99
Shares Outstanding (M)	16.83	16.83	16.83
Fair Value	$1,748.71	$1,828.99	$1,912.25
Upside / Downside	35.66%	41.89%	48.35%

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

Vinx Corp. (3784.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener