DDM Analysis: QBR-A.TO

Valuation Snapshot

Stable Growth	$95.88 - $325.82	$157.23
Multi-Stage	$90.86 - $99.57	$95.13
Blended Fair Value	$126.18
Current Price	$43.82
Upside	187.95%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	24.66%	37.72%	1.30	1.19	1.22	1.15	0.87	0.43	0.20	0.11	0.09	0.07
YoY Growth	-	-	8.95%	-1.77%	5.42%	33.07%	100.50%	116.63%	83.00%	21.63%	30.00%	30.08%
Dividend Yield	-	-	3.58%	4.02%	3.64%	3.87%	2.57%	1.39%	0.61%	0.44%	0.44%	0.40%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	822.20
(-) Cash Dividends Paid (M)	317.60
(=) Cash Retained (M)	504.60

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	164.44	102.78	61.67
Cash Retained (M)	504.60	504.60	504.60
(-) Cash Required (M)	-164.44	-102.78	-61.67
(=) Excess Retained (M)	340.16	401.83	442.94
(/) Shares Outstanding (M)	232.13	232.13	232.13
(=) Excess Retained per Share	1.47	1.73	1.91
LTM Dividend per Share	1.37	1.37	1.37
(+) Excess Retained per Share	1.47	1.73	1.91
(=) Adjusted Dividend	2.83	3.10	3.28
WACC / Discount Rate	6.66%	6.66%	6.66%
Growth Rate	3.60%	4.60%	5.60%
Fair Value	$95.88	$157.23	$325.82
Upside / Downside	118.80%	258.80%	643.54%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	822.20	860.02	899.58	940.96	984.24	1,029.51	1,060.39
Payout Ratio	38.63%	48.90%	59.18%	69.45%	79.73%	90.00%	92.50%
Projected Dividends (M)	317.60	420.57	532.34	653.51	784.69	926.56	980.87

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.66%	6.66%	6.66%
Growth Rate	3.60%	4.60%	5.60%
Year 1 PV (M)	390.53	394.30	398.07
Year 2 PV (M)	459.02	467.92	476.91
Year 3 PV (M)	523.25	538.55	554.14
Year 4 PV (M)	583.41	606.27	629.79
Year 5 PV (M)	639.69	671.17	703.87
PV of Terminal Value (M)	18,494.17	19,404.15	20,349.60
Equity Value (M)	21,090.08	22,082.36	23,112.38
Shares Outstanding (M)	232.13	232.13	232.13
Fair Value	$90.86	$95.13	$99.57
Upside / Downside	107.34%	117.10%	127.22%

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

Periods / Units / Analysis

Fundamentals

Valuations

Mode

Miscellaneous

Ticker

Industry

Sector

Quebecor Inc. (QBR-A.TO)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener