DDM Analysis: PROT.OL

Valuation Snapshot

Stable Growth	$950.46 - $5,524.66	$1,764.88
Multi-Stage	$560.89 - $613.17	$586.55
Blended Fair Value	$1,175.72
Current Price	$429.00
Upside	174.06%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	0.00%	19.01%	10.02	10.02	11.52	8.02	0.00	0.00	0.00	2.36	2.36	2.01
YoY Growth	-	-	0.01%	-13.03%	43.63%	0.00%	0.00%	0.00%	-100.00%	-0.01%	17.36%	14.29%
Dividend Yield	-	-	2.96%	4.43%	8.29%	6.59%	0.00%	0.00%	0.00%	2.76%	3.70%	2.67%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,285.00
(-) Cash Dividends Paid (M)	742.00
(=) Cash Retained (M)	1,543.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	457.00	285.63	171.38
Cash Retained (M)	1,543.00	1,543.00	1,543.00
(-) Cash Required (M)	-457.00	-285.63	-171.38
(=) Excess Retained (M)	1,086.00	1,257.38	1,371.63
(/) Shares Outstanding (M)	82.25	82.25	82.25
(=) Excess Retained per Share	13.20	15.29	16.68
LTM Dividend per Share	9.02	9.02	9.02
(+) Excess Retained per Share	13.20	15.29	16.68
(=) Adjusted Dividend	22.22	24.31	25.70
WACC / Discount Rate	7.97%	7.97%	7.97%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$950.46	$1,764.88	$5,524.66
Upside / Downside	121.55%	311.39%	1,187.80%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,285.00	2,433.53	2,591.70	2,760.16	2,939.58	3,130.65	3,224.57
Payout Ratio	32.47%	43.98%	55.48%	66.99%	78.49%	90.00%	92.50%
Projected Dividends (M)	742.00	1,070.22	1,437.97	1,849.01	2,307.41	2,817.58	2,982.72

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.97%	7.97%	7.97%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	981.94	991.25	1,000.56
Year 2 PV (M)	1,210.53	1,233.59	1,256.86
Year 3 PV (M)	1,428.16	1,469.16	1,510.93
Year 4 PV (M)	1,635.21	1,698.10	1,762.78
Year 5 PV (M)	1,832.06	1,920.55	2,012.43
PV of Terminal Value (M)	39,048.15	40,934.19	42,892.41
Equity Value (M)	46,136.06	48,246.83	50,435.97
Shares Outstanding (M)	82.25	82.25	82.25
Fair Value	$560.89	$586.55	$613.17
Upside / Downside	30.74%	36.73%	42.93%

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

Protector Forsikring ASA (PROT.OL)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener