DDM Analysis: 000048.SZ

Valuation Snapshot

Stable Growth	$81.43 - $155.23	$145.48
Multi-Stage	$24.59 - $26.90	$25.72
Blended Fair Value	$85.60
Current Price	$16.26
Upside	426.44%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	134.75%	40.74%	0.57	1.19	1.41	1.31	0.58	0.01	0.10	0.07	0.01	0.02
YoY Growth	-	-	-52.04%	-15.96%	7.65%	126.59%	7,152.60%	-91.86%	41.33%	481.18%	-22.69%	-17.30%
Dividend Yield	-	-	3.28%	6.80%	6.11%	5.91%	2.86%	0.04%	0.64%	0.39%	0.05%	0.06%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	409.86
(-) Cash Dividends Paid (M)	241.72
(=) Cash Retained (M)	168.14

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	81.97	51.23	30.74
Cash Retained (M)	168.14	168.14	168.14
(-) Cash Required (M)	-81.97	-51.23	-30.74
(=) Excess Retained (M)	86.16	116.90	137.40
(/) Shares Outstanding (M)	525.08	525.08	525.08
(=) Excess Retained per Share	0.16	0.22	0.26
LTM Dividend per Share	0.46	0.46	0.46
(+) Excess Retained per Share	0.16	0.22	0.26
(=) Adjusted Dividend	0.62	0.68	0.72
WACC / Discount Rate	6.31%	6.31%	6.31%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$81.43	$145.48	$155.23
Upside / Downside	400.81%	794.69%	854.70%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	409.86	436.50	464.87	495.09	527.27	561.54	578.39
Payout Ratio	58.98%	65.18%	71.39%	77.59%	83.80%	90.00%	92.50%
Projected Dividends (M)	241.72	284.52	331.85	384.14	441.83	505.39	535.01

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.31%	6.31%	6.31%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	265.12	267.63	270.15
Year 2 PV (M)	288.15	293.63	299.17
Year 3 PV (M)	310.81	319.73	328.82
Year 4 PV (M)	333.11	345.92	359.09
Year 5 PV (M)	355.05	372.20	390.00
PV of Terminal Value (M)	11,358.63	11,907.25	12,476.88
Equity Value (M)	12,910.85	13,506.36	14,124.11
Shares Outstanding (M)	525.08	525.08	525.08
Fair Value	$24.59	$25.72	$26.90
Upside / Downside	51.22%	58.19%	65.43%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 25 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
MDC	M.D.C. Holdings, Inc.	0.86%	$0.54	55.94%
AXP	American Express Company	0.85%	$3.17	20.85%
FOXA	Fox Corporation	0.85%	$0.62	13.96%
LMST	Limestone Bancorp, Inc.	0.85%	$0.20	8.06%
RCL	Royal Caribbean Cruises Ltd.	0.85%	$2.41	16.19%
AZZ	AZZ Inc.	0.84%	$0.92	8.89%
HIBB	Hibbett, Inc.	0.84%	$0.74	9.00%
MAR	Marriott International, Inc.	0.84%	$2.62	27.38%
MORN	Morningstar, Inc.	0.84%	$1.77	20.03%
SGH	SMART Global Holdings, Inc.	0.84%	$0.14	30.96%
URI	United Rentals, Inc.	0.84%	$7.13	18.10%
0HYJ.L	Cintas Corporation	0.83%	$1.54	34.15%
EFX	Equifax Inc.	0.83%	$1.78	33.46%
GM	General Motors Company	0.82%	$0.66	21.22%
KVSA	Khosla Ventures Acquisition Co.	0.81%	$0.09	9.61%
WMT	Walmart Inc.	0.81%	$0.91	31.92%
BMI	Badger Meter, Inc.	0.80%	$1.41	30.10%
FRD	Friedman Industries, Incorporated	0.80%	$0.16	9.82%
ITT	ITT Inc.	0.80%	$1.40	22.66%
MLI	Mueller Industries, Inc.	0.80%	$0.94	13.89%
SSSSL	SuRo Capital Corp. 6.00% Notes due 2026	0.80%	$0.20	8.46%
RGLD	Royal Gold, Inc.	0.79%	$1.75	24.00%
VRSK	Verisk Analytics, Inc.	0.79%	$1.74	26.41%
COF	Capital One Financial Corporation	0.78%	$1.94	87.57%
EE	Excelerate Energy, Inc.	0.78%	$0.22	9.21%
0K36.L	Moody's Corporation	0.77%	$3.82	30.70%
HCI	HCI Group, Inc.	0.77%	$1.42	9.00%
PH	Parker-Hannifin Corporation	0.77%	$6.85	24.15%
SEI	Solaris Energy Infrastructure, Inc.	0.77%	$0.39	44.96%
0HQN.L	Cboe Global Markets, Inc.	0.76%	$1.90	20.31%
ASIC	Ategrity Specialty Holdings LLC	0.76%	$0.15	12.77%
GL	Globe Life Inc.	0.75%	$1.03	7.35%
0KYY.L	S&P Global Inc.	0.74%	$3.81	28.09%
PHM	PulteGroup, Inc.	0.74%	$0.89	6.67%
ROP	Roper Technologies, Inc.	0.74%	$3.20	22.09%
ZWS	Zurn Elkay Water Solutions Corporation	0.74%	$0.35	30.63%
JOE	The St. Joe Company	0.73%	$0.43	24.05%
TOL	Toll Brothers, Inc.	0.73%	$0.99	7.16%
TTEK	Tetra Tech, Inc.	0.73%	$0.25	26.25%
0HCB.L	Alcoa Corporation	0.72%	$0.40	9.08%
A	Agilent Technologies, Inc.	0.72%	$0.99	21.64%
FCFS	FirstCash Holdings, Inc	0.72%	$1.13	16.40%
TRAK	ReposiTrak, Inc.	0.72%	$0.09	22.94%
BKNG	Booking Holdings Inc.	0.71%	$37.78	24.39%
PGC	Peapack-Gladstone Financial Corporation	0.71%	$0.20	10.22%
ASO	Academy Sports and Outdoors, Inc.	0.70%	$0.37	6.63%
BRO	Brown & Brown, Inc.	0.70%	$0.54	18.02%
INTU	Intuit Inc.	0.70%	$4.39	29.97%
MSFT	Microsoft Corporation	0.70%	$3.31	23.52%
NCR	NCR Corporation	0.70%	$0.11	1.70%

Financial Statements

Periods / Units / Analysis

Fundamentals

Valuations

Mode

Miscellaneous

Ticker

Industry

Sector

Shenzhen Kingkey Smart Agriculture Times Co.,Ltd (000048.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener