DDM Analysis: 603916.SS

Valuation Snapshot

Stable Growth	$2.43 - $3.72	$3.03
Multi-Stage	$5.90 - $6.49	$6.19
Blended Fair Value	$4.61
Current Price	$10.42
Upside	-55.77%
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	-0.40%	-2.70%	0.27	0.39	0.48	0.41	0.31	0.28	0.22	0.11	0.25	0.22
YoY Growth	-	-	-30.63%	-17.75%	16.13%	32.32%	11.82%	25.84%	102.90%	-57.24%	15.89%	-38.71%
Dividend Yield	-	-	3.58%	4.54%	2.92%	1.92%	1.36%	1.68%	1.79%	0.84%	2.34%	2.02%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	111.39
(-) Cash Dividends Paid (M)	69.57
(=) Cash Retained (M)	41.82

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	22.28	13.92	8.35
Cash Retained (M)	41.82	41.82	41.82
(-) Cash Required (M)	-22.28	-13.92	-8.35
(=) Excess Retained (M)	19.54	27.90	33.47
(/) Shares Outstanding (M)	411.40	411.40	411.40
(=) Excess Retained per Share	0.05	0.07	0.08
LTM Dividend per Share	0.17	0.17	0.17
(+) Excess Retained per Share	0.05	0.07	0.08
(=) Adjusted Dividend	0.22	0.24	0.25
WACC / Discount Rate	6.32%	6.32%	6.32%
Growth Rate	-2.40%	-1.40%	-0.40%
Fair Value	$2.43	$3.03	$3.72
Upside / Downside	-76.71%	-70.93%	-64.33%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	111.39	109.84	108.31	106.79	105.30	103.83	106.95
Payout Ratio	62.46%	67.96%	73.47%	78.98%	84.49%	90.00%	92.50%
Projected Dividends (M)	69.57	74.65	79.58	84.35	88.97	93.45	98.93

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.32%	6.32%	6.32%
Growth Rate	-2.40%	-1.40%	-0.40%
Year 1 PV (M)	69.50	70.22	70.93
Year 2 PV (M)	68.98	70.40	71.84
Year 3 PV (M)	68.08	70.19	72.35
Year 4 PV (M)	66.86	69.64	72.51
Year 5 PV (M)	65.38	68.80	72.36
PV of Terminal Value (M)	2,087.18	2,196.32	2,309.97
Equity Value (M)	2,425.98	2,545.56	2,669.95
Shares Outstanding (M)	411.40	411.40	411.40
Fair Value	$5.90	$6.19	$6.49
Upside / Downside	-43.41%	-40.62%	-37.72%

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

Sobute New Materials Co., Ltd (603916.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener