DDM Analysis: 603659.SS

Valuation Snapshot

Stable Growth	$17.81 - $45.80	$26.97
Multi-Stage	$12.42 - $13.57	$12.99
Blended Fair Value	$19.98
Current Price	$30.92
Upside	-35.39%
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	13.55%	88.34%	0.27	0.34	0.24	0.15	0.13	0.14	0.09	0.00	0.00	0.00
YoY Growth	-	-	-20.82%	44.36%	59.95%	9.98%	-6.12%	61.46%	2,565.69%	620.24%	-44.00%	71.39%
Dividend Yield	-	-	1.47%	1.69%	0.68%	0.30%	0.57%	0.96%	0.66%	0.03%	0.01%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,651.96
(-) Cash Dividends Paid (M)	541.55
(=) Cash Retained (M)	1,110.41

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	330.39	206.50	123.90
Cash Retained (M)	1,110.41	1,110.41	1,110.41
(-) Cash Required (M)	-330.39	-206.50	-123.90
(=) Excess Retained (M)	780.02	903.92	986.51
(/) Shares Outstanding (M)	2,121.12	2,121.12	2,121.12
(=) Excess Retained per Share	0.37	0.43	0.47
LTM Dividend per Share	0.26	0.26	0.26
(+) Excess Retained per Share	0.37	0.43	0.47
(=) Adjusted Dividend	0.62	0.68	0.72
WACC / Discount Rate	9.19%	9.19%	9.19%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$17.81	$26.97	$45.80
Upside / Downside	-42.40%	-12.78%	48.12%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,651.96	1,759.34	1,873.70	1,995.49	2,125.20	2,263.33	2,331.23
Payout Ratio	32.78%	44.23%	55.67%	67.11%	78.56%	90.00%	92.50%
Projected Dividends (M)	541.55	778.08	1,043.08	1,339.23	1,669.48	2,037.00	2,156.39

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.19%	9.19%	9.19%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	705.90	712.59	719.28
Year 2 PV (M)	858.52	874.87	891.37
Year 3 PV (M)	1,000.01	1,028.71	1,057.97
Year 4 PV (M)	1,130.95	1,174.45	1,219.18
Year 5 PV (M)	1,251.90	1,312.37	1,375.15
PV of Terminal Value (M)	21,406.50	22,440.44	23,513.95
Equity Value (M)	26,353.77	27,543.43	28,776.91
Shares Outstanding (M)	2,121.12	2,121.12	2,121.12
Fair Value	$12.42	$12.99	$13.57
Upside / Downside	-59.82%	-58.00%	-56.12%

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

Mode

Ticker

Industry

Sector

Shanghai Putailai New Energy Technology Co.,Ltd. (603659.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener