Definitive Analysis
| Stable Growth | $7,530,028.37 - $31,672,972.43 | $18,907,520.15 |
| Multi-Stage | $4,175,770.07 - $4,576,726.74 | $4,372,531.80 |
| Blended Fair Value | $11,640,025.98 | |
| Current Price | $384,000.00 | |
| Upside | 2,931.26% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -7.84% | -2.88% | 8,000.19 | 8,000.19 | 7,248.18 | 6,248.15 | 6,804.49 | 12,034.29 | 12,034.41 | 12,059.64 | 12,069.50 | 11,989.72 |
| YoY Growth | - | - | 0.00% | 10.38% | 16.01% | -8.18% | -43.46% | 0.00% | -0.21% | -0.08% | 0.67% | 11.84% |
| Dividend Yield | - | - | 3.17% | 3.11% | 3.26% | 1.83% | 2.87% | 9.29% | 3.85% | 3.49% | 3.41% | 2.88% |
| Net Income To Common (M) | 1,177,191.38 |
| (-) Cash Dividends Paid (M) | 73,541.71 |
| (=) Cash Retained (M) | 1,103,649.67 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 235,438.28 | 147,148.92 | 88,289.35 |
| Cash Retained (M) | 1,103,649.67 | 1,103,649.67 | 1,103,649.67 |
| (-) Cash Required (M) | -235,438.28 | -147,148.92 | -88,289.35 |
| (=) Excess Retained (M) | 868,211.40 | 956,500.75 | 1,015,360.32 |
| (/) Shares Outstanding (M) | 7.35 | 7.35 | 7.35 |
| (=) Excess Retained per Share | 118,059.75 | 130,065.37 | 138,069.12 |
| LTM Dividend per Share | 10,000.23 | 10,000.23 | 10,000.23 |
| (+) Excess Retained per Share | 118,059.75 | 130,065.37 | 138,069.12 |
| (=) Adjusted Dividend | 128,059.98 | 140,065.61 | 148,069.35 |
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 4.95% | 5.95% | 6.95% |
| Fair Value | $7,530,028.37 | $18,907,520.15 | $31,672,972.43 |
| Upside / Downside | 1,860.94% | 4,823.83% | 8,148.17% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,177,191.38 | 1,247,271.54 | 1,321,523.69 | 1,400,196.19 | 1,483,552.20 | 1,571,870.53 | 1,619,026.64 |
| Payout Ratio | 6.25% | 23.00% | 39.75% | 56.50% | 73.25% | 90.00% | 92.50% |
| Projected Dividends (M) | 73,541.71 | 286,844.69 | 525,283.61 | 791,095.27 | 1,086,693.73 | 1,414,683.47 | 1,497,599.64 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 4.95% | 5.95% | 6.95% |
| Year 1 PV (M) | 266,200.66 | 268,737.03 | 271,273.41 |
| Year 2 PV (M) | 452,395.68 | 461,057.66 | 469,801.77 |
| Year 3 PV (M) | 632,289.09 | 650,535.30 | 669,129.21 |
| Year 4 PV (M) | 806,039.57 | 837,201.39 | 869,258.14 |
| Year 5 PV (M) | 973,802.27 | 1,021,087.02 | 1,070,190.98 |
| PV of Terminal Value (M) | 27,577,885.83 | 28,916,980.47 | 30,307,594.94 |
| Equity Value (M) | 30,708,613.10 | 32,155,598.88 | 33,657,248.46 |
| Shares Outstanding (M) | 7.35 | 7.35 | 7.35 |
| Fair Value | $4,175,770.07 | $4,372,531.80 | $4,576,726.74 |
| Upside / Downside | 987.44% | 1,038.68% | 1,091.86% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 600036.SS | China Merchants Bank Co., Ltd. | 5.46% | $2.30 | 39.04% |
| 7296.T | F.C.C. Co., Ltd. | 5.46% | $202.40 | 61.47% |
| BPF-UN.TO | Boston Pizza Royalties Income Fund | 5.46% | $1.25 | 81.66% |
| SONDA.SN | Sonda S.A. | 5.46% | $18.78 | 57.64% |
| 0062.HK | Transport International Holdings Limited | 5.45% | $0.58 | 45.75% |
| AGN.AS | Aegon N.V. | 5.45% | $0.36 | 45.01% |
| CGCBV.HE | Cargotec Corporation | 5.45% | $2.13 | 13.30% |
| LEVE3.SA | MAHLE Metal Leve S.A. | 5.45% | $1.83 | 42.42% |
| RATCH-R.BK | Ratch Group Public Company Limited | 5.45% | $1.61 | 62.39% |
| 071320.KS | Korea District Heating Corp. | 5.44% | $5,144.29 | 19.59% |
| 3051.TW | Optimax Technology Corporation | 5.44% | $1.01 | 72.99% |
| LSIP.JK | PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | 5.44% | $64.99 | 23.07% |
| 4580.TWO | Value Valves Co., Ltd. | 5.43% | $4.43 | 79.29% |
| BNBR3.SA | Banco do Nordeste do Brasil S.A. | 5.43% | $5.98 | 20.89% |
| 1866.HK | China XLX Fertiliser Ltd. | 5.42% | $0.50 | 22.65% |
| 4207.TWO | Taiwan Fructose Co., Ltd. | 5.42% | $1.00 | 61.33% |
| 8955.T | Japan Prime Realty Investment Corporation | 5.42% | $5,726.89 | 66.85% |
| 8TRA.DE | Traton SE | 5.42% | $1.70 | 47.75% |
| AMATA.BK | Amata Corporation Public Company Limited | 5.42% | $0.90 | 33.06% |
| CREC | Crescera Capital Acquisition Corp. | 5.42% | $0.59 | 40.15% |
| 9907.TW | Ton Yi Industrial Corp. | 5.41% | $0.97 | 70.39% |
| 004970.KS | Silla Co.,Ltd | 5.40% | $499.34 | 56.25% |
| JDE.DE | JDE Peet's N.V. | 5.40% | $1.72 | 74.35% |
| 0QU6.L | HIAG Immobilien Holding AG | 5.39% | $6.39 | 44.68% |
| 3022.TW | IEI Integration Corp. | 5.39% | $3.51 | 69.75% |
| 4105.TWO | TTY Biopharm Company Limited | 5.39% | $4.35 | 68.65% |
| BNORDIK-CSE.CO | P/F BankNordik | 5.39% | $8.36 | 24.49% |
| 003550.KS | LG Corp. | 5.38% | $4,358.83 | 94.91% |
| 2414.TW | Unitech Computer Co., Ltd. | 5.38% | $2.19 | 71.08% |
| 9627.SR | Twareat Medical Care Co. | 5.38% | $0.66 | 71.63% |
| AMARC.BK | Asia Medical and Agricultural Laboratory and Research Center Public Company Limited | 5.38% | $0.14 | 38.50% |
| MDNE3.SA | Moura Dubeux Engenharia S.A. | 5.38% | $1.24 | 29.60% |
| 001286.SZ | Shaanxi Energy Investment | 5.37% | $0.50 | 64.09% |
| 82020.HK | ANTA Sports-r | 5.37% | $3.89 | 40.14% |
| CCN.PA | Caisse Régionale de Crédit Agricole Mutuel de Normandie-Seine Société coopérative | 5.37% | $7.01 | 26.05% |
| ENGH.TO | Enghouse Systems Limited | 5.37% | $1.08 | 79.39% |
| G07.SI | Great Eastern Holdings Limited | 5.37% | $0.82 | 40.54% |
| GEMA.JK | PT Gema Grahasarana Tbk | 5.37% | $5.15 | 29.14% |
| HNK1.DE | Heineken N.V. | 5.37% | $3.71 | 83.13% |
| SELER.PA | Selectirente | 5.37% | $4.40 | 33.09% |
| 600750.SS | Jiang Zhong Pharmaceutical Co.,Ltd | 5.36% | $1.24 | 93.11% |
| 000883.SZ | Hubei Energy Group Co., Ltd. | 5.35% | $0.24 | 93.11% |
| 039570.KS | HDC I-Controls Co., Ltd. | 5.35% | $448.00 | 48.81% |
| AB9.DE | ABO Energy GmbH & Co. KGaA | 5.35% | $0.65 | 11.20% |
| CUP.AX | Count Limited | 5.35% | $0.06 | 8.76% |
| RB.SW | Reckitt Benckiser Group plc | 5.35% | $2.89 | 67.01% |
| 0411.HK | Lam Soon (Hong Kong) Limited | 5.34% | $0.60 | 27.98% |
| 1342.TW | Cathay Consolidated, Inc. | 5.34% | $4.76 | 87.76% |
| 9612.SR | Sama Healthy Water Factory Co. | 5.34% | $0.10 | 39.45% |
| 000521.SZ | Changhong Meiling Co., Ltd. | 5.33% | $0.35 | 54.63% |