DDM Analysis: 600638.SS

Valuation Snapshot

Stable Growth	$2.31 - $3.60	$2.91
Multi-Stage	$5.68 - $6.24	$5.96
Blended Fair Value	$4.43
Current Price	$6.08
Upside	-27.13%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-14.29%	-5.38%	0.31	0.33	0.42	0.46	0.30	0.67	0.54	0.45	0.37	0.37
YoY Growth	-	-	-5.55%	-21.84%	-8.48%	54.86%	-55.79%	23.45%	20.11%	21.86%	-0.22%	-31.06%
Dividend Yield	-	-	6.18%	7.30%	7.33%	7.19%	5.22%	12.69%	5.17%	3.71%	2.22%	3.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	162.69
(-) Cash Dividends Paid (M)	148.57
(=) Cash Retained (M)	14.12

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	32.54	20.34	12.20
Cash Retained (M)	14.12	14.12	14.12
(-) Cash Required (M)	-32.54	-20.34	-12.20
(=) Excess Retained (M)	-18.42	-6.22	1.92
(/) Shares Outstanding (M)	674.21	674.21	674.21
(=) Excess Retained per Share	-0.03	-0.01	0.00
LTM Dividend per Share	0.22	0.22	0.22
(+) Excess Retained per Share	-0.03	-0.01	0.00
(=) Adjusted Dividend	0.19	0.21	0.22
WACC / Discount Rate	6.20%	6.20%	6.20%
Growth Rate	-2.00%	-1.00%	0.00%
Fair Value	$2.31	$2.91	$3.60
Upside / Downside	-62.03%	-52.22%	-40.74%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	162.69	161.07	159.46	157.86	156.28	154.72	159.36
Payout Ratio	91.32%	91.06%	90.79%	90.53%	90.26%	90.00%	92.50%
Projected Dividends (M)	148.57	146.66	144.77	142.91	141.07	139.25	147.41

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.20%	6.20%	6.20%
Growth Rate	-2.00%	-1.00%	0.00%
Year 1 PV (M)	136.71	138.11	139.50
Year 2 PV (M)	125.80	128.38	130.98
Year 3 PV (M)	115.75	119.33	122.98
Year 4 PV (M)	106.51	110.92	115.47
Year 5 PV (M)	98.00	103.10	108.41
PV of Terminal Value (M)	3,246.94	3,416.01	3,592.06
Equity Value (M)	3,829.70	4,015.85	4,209.41
Shares Outstanding (M)	674.21	674.21	674.21
Fair Value	$5.68	$5.96	$6.24
Upside / Downside	-6.57%	-2.03%	2.69%

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

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

Shanghai New Huang Pu Industrial Group Co., Ltd. (600638.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener