DDM Analysis: 603506.SS

Valuation Snapshot

Stable Growth	$11.98 - $25.86	$17.11
Multi-Stage	$8.52 - $9.31	$8.91
Blended Fair Value	$13.01
Current Price	$13.81
Upside	-5.79%
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	16.80%	0.00%	0.36	0.32	0.35	0.22	0.19	0.17	0.17	0.18	0.03	0.59
YoY Growth	-	-	11.62%	-7.42%	57.35%	18.61%	12.71%	-2.75%	-2.46%	467.49%	-94.74%	0.00%
Dividend Yield	-	-	3.28%	3.61%	2.86%	1.36%	1.27%	1.28%	1.22%	1.07%	0.31%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	116.05
(-) Cash Dividends Paid (M)	3.28
(=) Cash Retained (M)	112.77

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	23.21	14.51	8.70
Cash Retained (M)	112.77	112.77	112.77
(-) Cash Required (M)	-23.21	-14.51	-8.70
(=) Excess Retained (M)	89.56	98.26	104.06
(/) Shares Outstanding (M)	185.70	185.70	185.70
(=) Excess Retained per Share	0.48	0.53	0.56
LTM Dividend per Share	0.02	0.02	0.02
(+) Excess Retained per Share	0.48	0.53	0.56
(=) Adjusted Dividend	0.50	0.55	0.58
WACC / Discount Rate	9.90%	9.90%	9.90%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$11.98	$17.11	$25.86
Upside / Downside	-13.26%	23.91%	87.24%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	116.05	123.59	131.63	140.18	149.29	159.00	163.77
Payout Ratio	2.83%	20.26%	37.70%	55.13%	72.57%	90.00%	92.50%
Projected Dividends (M)	3.28	25.04	49.62	77.28	108.34	143.10	151.48

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.90%	9.90%	9.90%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	22.57	22.79	23.00
Year 2 PV (M)	40.31	41.08	41.85
Year 3 PV (M)	56.59	58.22	59.87
Year 4 PV (M)	71.51	74.26	77.08
Year 5 PV (M)	85.13	89.24	93.51
PV of Terminal Value (M)	1,305.52	1,368.58	1,434.05
Equity Value (M)	1,581.64	1,654.17	1,729.38
Shares Outstanding (M)	185.70	185.70	185.70
Fair Value	$8.52	$8.91	$9.31
Upside / Downside	-38.33%	-35.50%	-32.57%

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

Nacity Property Service Group Co., Ltd. (603506.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener