DDM Analysis: 603090.SS

Valuation Snapshot

Stable Growth	$110.24 - $129.88	$121.71
Multi-Stage	$76.52 - $83.97	$80.17
Blended Fair Value	$100.94
Current Price	$53.03
Upside	90.35%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	21.77%	16.00%	0.33	0.33	0.33	0.02	0.13	0.12	0.10	0.20	0.07	0.30
YoY Growth	-	-	-1.10%	0.84%	1,537.57%	-84.00%	2.44%	23.60%	-50.00%	166.67%	-75.00%	300.00%
Dividend Yield	-	-	1.47%	1.44%	1.37%	0.08%	1.01%	0.71%	0.55%	1.08%	0.19%	2.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	65.97
(-) Cash Dividends Paid (M)	31.45
(=) Cash Retained (M)	34.52

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	13.19	8.25	4.95
Cash Retained (M)	34.52	34.52	34.52
(-) Cash Required (M)	-13.19	-8.25	-4.95
(=) Excess Retained (M)	21.32	26.27	29.57
(/) Shares Outstanding (M)	101.02	101.02	101.02
(=) Excess Retained per Share	0.21	0.26	0.29
LTM Dividend per Share	0.31	0.31	0.31
(+) Excess Retained per Share	0.21	0.26	0.29
(=) Adjusted Dividend	0.52	0.57	0.60
WACC / Discount Rate	1.94%	1.94%	1.94%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$110.24	$121.71	$129.88
Upside / Downside	107.88%	129.52%	144.91%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	65.97	70.26	74.83	79.69	84.87	90.38	93.10
Payout Ratio	47.68%	56.14%	64.61%	73.07%	81.54%	90.00%	92.50%
Projected Dividends (M)	31.45	39.44	48.34	58.23	69.20	81.35	86.11

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	1.94%	1.94%	1.94%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	38.33	38.69	39.05
Year 2 PV (M)	45.65	46.51	47.39
Year 3 PV (M)	53.43	54.96	56.52
Year 4 PV (M)	61.69	64.07	66.51
Year 5 PV (M)	70.48	73.88	77.41
PV of Terminal Value (M)	7,460.59	7,820.94	8,195.08
Equity Value (M)	7,730.16	8,099.05	8,481.97
Shares Outstanding (M)	101.02	101.02	101.02
Fair Value	$76.52	$80.17	$83.97
Upside / Downside	44.30%	51.19%	58.34%

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

Wuxi Hongsheng Heat Exchanger Manufacturing Co., Ltd. (603090.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener