DDM Analysis: FORUS.SN

Valuation Snapshot

Stable Growth	$1,896.00 - $3,885.02	$2,658.51
Multi-Stage	$2,147.85 - $2,352.43	$2,248.23
Blended Fair Value	$2,453.37
Current Price	$2,139.90
Upside	14.65%
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	2.45%	-2.69%	44.13	48.26	45.43	20.04	13.84	39.09	40.85	40.39	48.51	54.28
YoY Growth	-	-	-8.56%	6.23%	126.73%	44.77%	-64.59%	-4.29%	1.14%	-16.75%	-10.63%	-6.36%
Dividend Yield	-	-	2.10%	2.97%	2.90%	1.81%	0.97%	5.36%	2.35%	1.71%	1.84%	2.86%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	28,368.15
(-) Cash Dividends Paid (M)	12,108.55
(=) Cash Retained (M)	16,259.60

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	5,673.63	3,546.02	2,127.61
Cash Retained (M)	16,259.60	16,259.60	16,259.60
(-) Cash Required (M)	-5,673.63	-3,546.02	-2,127.61
(=) Excess Retained (M)	10,585.97	12,713.58	14,131.99
(/) Shares Outstanding (M)	261.44	261.44	261.44
(=) Excess Retained per Share	40.49	48.63	54.05
LTM Dividend per Share	46.31	46.31	46.31
(+) Excess Retained per Share	40.49	48.63	54.05
(=) Adjusted Dividend	86.81	94.94	100.37
WACC / Discount Rate	7.56%	7.56%	7.56%
Growth Rate	2.85%	3.85%	4.85%
Fair Value	$1,896.00	$2,658.51	$3,885.02
Upside / Downside	-11.40%	24.24%	81.55%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	28,368.15	29,459.53	30,592.90	31,769.88	32,992.13	34,261.41	35,289.25
Payout Ratio	42.68%	52.15%	61.61%	71.07%	80.54%	90.00%	92.50%
Projected Dividends (M)	12,108.55	15,362.23	18,848.34	22,579.95	26,570.78	30,835.27	32,642.56

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.56%	7.56%	7.56%
Growth Rate	2.85%	3.85%	4.85%
Year 1 PV (M)	14,145.48	14,283.02	14,420.55
Year 2 PV (M)	15,980.85	16,293.13	16,608.43
Year 3 PV (M)	17,628.40	18,147.63	18,676.95
Year 4 PV (M)	19,101.07	19,854.87	20,630.76
Year 5 PV (M)	20,411.01	21,422.79	22,474.31
PV of Terminal Value (M)	474,268.54	497,778.24	522,211.14
Equity Value (M)	561,535.35	587,779.67	615,022.14
Shares Outstanding (M)	261.44	261.44	261.44
Fair Value	$2,147.85	$2,248.23	$2,352.43
Upside / Downside	0.37%	5.06%	9.93%

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

Forus S.A. (FORUS.SN)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener