DDM Analysis: F9D.SI

Valuation Snapshot

Stable Growth	$1.72 - $2.62	$2.14
Multi-Stage	$4.04 - $4.45	$4.24
Blended Fair Value	$3.19
Current Price	$1.64
Upside	94.55%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	4.57%	-7.00%	0.03	0.04	0.04	0.08	0.03	0.02	0.03	0.03	0.03	0.03
YoY Growth	-	-	-28.05%	-0.81%	-53.18%	181.74%	32.87%	-25.71%	13.28%	-1.04%	5.90%	-56.11%
Dividend Yield	-	-	2.57%	3.82%	4.72%	8.64%	2.98%	3.77%	3.88%	3.45%	3.09%	3.21%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	95.05
(-) Cash Dividends Paid (M)	13.74
(=) Cash Retained (M)	81.31

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	19.01	11.88	7.13
Cash Retained (M)	81.31	81.31	81.31
(-) Cash Required (M)	-19.01	-11.88	-7.13
(=) Excess Retained (M)	62.30	69.43	74.18
(/) Shares Outstanding (M)	485.68	485.68	485.68
(=) Excess Retained per Share	0.13	0.14	0.15
LTM Dividend per Share	0.03	0.03	0.03
(+) Excess Retained per Share	0.13	0.14	0.15
(=) Adjusted Dividend	0.16	0.17	0.18
WACC / Discount Rate	6.34%	6.34%	6.34%
Growth Rate	-2.54%	-1.54%	-0.54%
Fair Value	$1.72	$2.14	$2.62
Upside / Downside	4.73%	30.40%	59.49%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	95.05	93.58	92.14	90.72	89.33	87.95	90.59
Payout Ratio	14.46%	29.57%	44.67%	59.78%	74.89%	90.00%	92.50%
Projected Dividends (M)	13.74	27.67	41.16	54.24	66.90	79.16	83.80

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.34%	6.34%	6.34%
Growth Rate	-2.54%	-1.54%	-0.54%
Year 1 PV (M)	25.75	26.02	26.28
Year 2 PV (M)	35.66	36.40	37.14
Year 3 PV (M)	43.74	45.10	46.49
Year 4 PV (M)	50.21	52.31	54.47
Year 5 PV (M)	55.30	58.20	61.22
PV of Terminal Value (M)	1,750.80	1,842.48	1,937.97
Equity Value (M)	1,961.48	2,060.51	2,163.56
Shares Outstanding (M)	485.68	485.68	485.68
Fair Value	$4.04	$4.24	$4.45
Upside / Downside	146.26%	158.69%	171.63%

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

Boustead Singapore Limited (F9D.SI)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener