DDM Analysis: 9633.HK

Valuation Snapshot

Stable Growth	$21.10 - $32.44	$26.38
Multi-Stage	$47.23 - $51.94	$49.54
Blended Fair Value	$37.96
Current Price	$36.58
Upside	3.77%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017
DPS	-2.55%	0.00%	0.75	0.68	0.45	0.17	0.71	0.85	0.04	0.03	0.00	0.00
YoY Growth	-	-	10.31%	51.14%	164.61%	-76.04%	-16.86%	1,976.50%	25.87%	0.00%	0.00%	0.00%
Dividend Yield	-	-	2.35%	1.70%	1.16%	0.41%	1.54%	2.89%	0.14%	0.12%	0.00%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	26,049.46
(-) Cash Dividends Paid (M)	16,081.16
(=) Cash Retained (M)	9,968.30

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	5,209.89	3,256.18	1,953.71
Cash Retained (M)	9,968.30	9,968.30	9,968.30
(-) Cash Required (M)	-5,209.89	-3,256.18	-1,953.71
(=) Excess Retained (M)	4,758.41	6,712.12	8,014.59
(/) Shares Outstanding (M)	11,246.47	11,246.47	11,246.47
(=) Excess Retained per Share	0.42	0.60	0.71
LTM Dividend per Share	1.43	1.43	1.43
(+) Excess Retained per Share	0.42	0.60	0.71
(=) Adjusted Dividend	1.85	2.03	2.14
WACC / Discount Rate	6.61%	6.61%	6.61%
Growth Rate	-2.00%	-1.00%	0.00%
Fair Value	$21.10	$26.38	$32.44
Upside / Downside	-42.31%	-27.88%	-11.33%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	26,049.46	25,788.97	25,531.08	25,275.77	25,023.01	24,772.78	25,515.96
Payout Ratio	61.73%	67.39%	73.04%	78.69%	84.35%	90.00%	92.50%
Projected Dividends (M)	16,081.16	17,378.30	18,647.88	19,890.33	21,106.07	22,295.50	23,602.27

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.61%	6.61%	6.61%
Growth Rate	-2.00%	-1.00%	0.00%
Year 1 PV (M)	16,136.88	16,301.54	16,466.21
Year 2 PV (M)	16,078.83	16,408.64	16,741.80
Year 3 PV (M)	15,925.00	16,417.49	16,920.03
Year 4 PV (M)	15,691.24	16,341.56	17,011.90
Year 5 PV (M)	15,391.45	16,192.92	17,027.43
PV of Terminal Value (M)	451,945.15	475,478.98	499,983.13
Equity Value (M)	531,168.54	557,141.14	584,150.50
Shares Outstanding (M)	11,246.47	11,246.47	11,246.47
Fair Value	$47.23	$49.54	$51.94
Upside / Downside	29.11%	35.43%	41.99%

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

Nongfu Spring Co., Ltd. (9633.HK)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener