Definitive Analysis
| Stable Growth | $293,366.60 - $748,956.83 | $443,261.73 |
| Multi-Stage | $199,263.53 - $217,897.74 | $208,410.90 |
| Blended Fair Value | $325,836.32 | |
| Current Price | $262,500.00 | |
| Upside | 24.13% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 20.49% | 18.46% | 772.68 | 405.21 | 1,385.58 | 388.24 | 356.84 | 304.32 | 275.80 | 211.58 | 208.66 | 149.64 |
| YoY Growth | - | - | 90.69% | -70.76% | 256.89% | 8.80% | 17.26% | 10.34% | 30.35% | 1.40% | 39.44% | 5.36% |
| Dividend Yield | - | - | 0.40% | 0.21% | 0.69% | 0.11% | 0.09% | 0.18% | 0.22% | 0.13% | 0.12% | 0.12% |
| Net Income To Common (M) | 1,987,895.58 |
| (-) Cash Dividends Paid (M) | 168,436.67 |
| (=) Cash Retained (M) | 1,819,458.91 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 397,579.12 | 248,486.95 | 149,092.17 |
| Cash Retained (M) | 1,819,458.91 | 1,819,458.91 | 1,819,458.91 |
| (-) Cash Required (M) | -397,579.12 | -248,486.95 | -149,092.17 |
| (=) Excess Retained (M) | 1,421,879.80 | 1,570,971.96 | 1,670,366.74 |
| (/) Shares Outstanding (M) | 153.99 | 153.99 | 153.99 |
| (=) Excess Retained per Share | 9,233.65 | 10,201.85 | 10,847.31 |
| LTM Dividend per Share | 1,093.82 | 1,093.82 | 1,093.82 |
| (+) Excess Retained per Share | 9,233.65 | 10,201.85 | 10,847.31 |
| (=) Adjusted Dividend | 10,327.47 | 11,295.67 | 11,941.13 |
| WACC / Discount Rate | 9.21% | 9.21% | 9.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $293,366.60 | $443,261.73 | $748,956.83 |
| Upside / Downside | 11.76% | 68.86% | 185.32% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,987,895.58 | 2,117,108.79 | 2,254,720.86 | 2,401,277.72 | 2,557,360.77 | 2,723,589.22 | 2,805,296.90 |
| Payout Ratio | 8.47% | 24.78% | 41.08% | 57.39% | 73.69% | 90.00% | 92.50% |
| Projected Dividends (M) | 168,436.67 | 524,587.62 | 926,326.56 | 1,378,075.17 | 1,884,637.38 | 2,451,230.30 | 2,594,899.63 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.21% | 9.21% | 9.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 475,820.11 | 480,330.25 | 484,840.39 |
| Year 2 PV (M) | 762,102.90 | 776,618.82 | 791,271.69 |
| Year 3 PV (M) | 1,028,364.70 | 1,057,885.36 | 1,087,965.63 |
| Year 4 PV (M) | 1,275,636.10 | 1,324,693.47 | 1,375,152.37 |
| Year 5 PV (M) | 1,504,900.79 | 1,577,588.06 | 1,653,057.24 |
| PV of Terminal Value (M) | 25,637,566.69 | 26,875,870.75 | 28,161,567.62 |
| Equity Value (M) | 30,684,391.30 | 32,092,986.71 | 33,553,854.94 |
| Shares Outstanding (M) | 153.99 | 153.99 | 153.99 |
| Fair Value | $199,263.53 | $208,410.90 | $217,897.74 |
| Upside / Downside | -24.09% | -20.61% | -16.99% |
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| ANIM3.SA | Anima Holding S.A. | 5.58% | $0.18 | 44.03% |
| PROF-B.ST | ProfilGruppen AB (publ) | 5.58% | $6.64 | 56.11% |
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| 1585.HK | Yadea Group Holdings Ltd. | 5.57% | $0.64 | 44.68% |
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| DTL.AX | Data#3 Limited | 5.56% | $0.50 | 85.44% |
| IMAS.JK | PT Indomobil Sukses Internasional Tbk | 5.56% | $63.43 | 61.82% |
| SFQ.DE | SAF-Holland SE | 5.56% | $0.84 | 75.48% |
| 058430.KS | POSCO STEELEON Co., Ltd. | 5.55% | $2,160.07 | 46.25% |
| 2192.HK | Medlive Technology Co., Ltd. | 5.55% | $0.55 | 65.76% |
| 8968.T | Fukuoka REIT Corporation | 5.55% | $10,438.66 | 63.61% |
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