DDM Analysis: 601117.SS

Valuation Snapshot

Stable Growth	$26.10 - $80.28	$41.67
Multi-Stage	$16.79 - $18.37	$17.56
Blended Fair Value	$29.62
Current Price	$7.44
Upside	298.11%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	8.77%	8.38%	0.26	0.30	0.22	0.27	0.15	0.17	0.14	0.14	0.13	0.14
YoY Growth	-	-	-14.79%	34.21%	-17.13%	77.90%	-9.71%	24.39%	-6.45%	14.56%	-8.12%	19.91%
Dividend Yield	-	-	3.57%	4.43%	2.42%	2.81%	2.18%	2.82%	2.05%	1.97%	1.44%	2.34%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	6,082.59
(-) Cash Dividends Paid (M)	206.06
(=) Cash Retained (M)	5,876.53

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,216.52	760.32	456.19
Cash Retained (M)	5,876.53	5,876.53	5,876.53
(-) Cash Required (M)	-1,216.52	-760.32	-456.19
(=) Excess Retained (M)	4,660.01	5,116.21	5,420.33
(/) Shares Outstanding (M)	6,066.88	6,066.88	6,066.88
(=) Excess Retained per Share	0.77	0.84	0.89
LTM Dividend per Share	0.03	0.03	0.03
(+) Excess Retained per Share	0.77	0.84	0.89
(=) Adjusted Dividend	0.80	0.88	0.93
WACC / Discount Rate	8.74%	8.74%	8.74%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$26.10	$41.67	$80.28
Upside / Downside	250.83%	460.14%	979.00%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	6,082.59	6,477.96	6,899.02	7,347.46	7,825.04	8,333.67	8,583.68
Payout Ratio	3.39%	20.71%	38.03%	55.36%	72.68%	90.00%	92.50%
Projected Dividends (M)	206.06	1,341.59	2,623.88	4,067.19	5,687.05	7,500.31	7,939.91

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.74%	8.74%	8.74%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	1,222.16	1,233.74	1,245.33
Year 2 PV (M)	2,177.49	2,218.96	2,260.83
Year 3 PV (M)	3,074.77	3,163.04	3,252.98
Year 4 PV (M)	3,916.62	4,067.24	4,222.16
Year 5 PV (M)	4,705.54	4,932.82	5,168.79
PV of Terminal Value (M)	86,754.45	90,944.73	95,295.37
Equity Value (M)	101,851.02	106,560.52	111,445.46
Shares Outstanding (M)	6,066.88	6,066.88	6,066.88
Fair Value	$16.79	$17.56	$18.37
Upside / Downside	125.65%	136.08%	146.90%

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

China National Chemical Engineering Co., Ltd (601117.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener