Definitive Analysis
| Stable Growth | $657,895.74 - $2,492,807.46 | $1,922,917.55 |
| Multi-Stage | $730,485.89 - $803,236.68 | $766,167.39 |
| Blended Fair Value | $1,344,542.47 | |
| Current Price | $39,300.00 | |
| Upside | 3,321.23% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 5.02% | -3.80% | 197.68 | 70.60 | 65.97 | 1,265.12 | 126.64 | 154.77 | 933.68 | 2,087.95 | 3,253.19 | 638.48 |
| YoY Growth | - | - | 180.00% | 7.03% | -94.79% | 898.99% | -18.18% | -83.42% | -55.28% | -35.82% | 409.52% | 119.21% |
| Dividend Yield | - | - | 0.91% | 0.32% | 0.37% | 5.59% | 0.55% | 0.80% | 3.08% | 6.36% | 7.00% | 1.06% |
| Net Income To Common (M) | 8,237,058.00 |
| (-) Cash Dividends Paid (M) | 256,967.00 |
| (=) Cash Retained (M) | 7,980,091.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,647,411.60 | 1,029,632.25 | 617,779.35 |
| Cash Retained (M) | 7,980,091.00 | 7,980,091.00 | 7,980,091.00 |
| (-) Cash Required (M) | -1,647,411.60 | -1,029,632.25 | -617,779.35 |
| (=) Excess Retained (M) | 6,332,679.40 | 6,950,458.75 | 7,362,311.65 |
| (/) Shares Outstanding (M) | 641.96 | 641.96 | 641.96 |
| (=) Excess Retained per Share | 9,864.54 | 10,826.87 | 11,468.42 |
| LTM Dividend per Share | 400.28 | 400.28 | 400.28 |
| (+) Excess Retained per Share | 9,864.54 | 10,826.87 | 11,468.42 |
| (=) Adjusted Dividend | 10,264.82 | 11,227.15 | 11,868.70 |
| WACC / Discount Rate | 4.62% | 4.62% | 4.62% |
| Growth Rate | 3.02% | 4.02% | 5.02% |
| Fair Value | $657,895.74 | $1,922,917.55 | $2,492,807.46 |
| Upside / Downside | 1,574.03% | 4,792.92% | 6,243.02% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 8,237,058.00 | 8,567,859.96 | 8,911,946.99 | 9,269,852.63 | 9,642,131.84 | 10,029,361.85 | 10,330,242.71 |
| Payout Ratio | 3.12% | 20.50% | 37.87% | 55.25% | 72.62% | 90.00% | 92.50% |
| Projected Dividends (M) | 256,967.00 | 1,756,044.27 | 3,375,113.60 | 5,121,395.03 | 7,002,494.99 | 9,026,425.67 | 9,555,474.50 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 4.62% | 4.62% | 4.62% |
| Growth Rate | 3.02% | 4.02% | 5.02% |
| Year 1 PV (M) | 1,662,307.87 | 1,678,444.27 | 1,694,580.67 |
| Year 2 PV (M) | 3,024,408.13 | 3,083,410.36 | 3,142,982.57 |
| Year 3 PV (M) | 4,344,264.69 | 4,472,009.05 | 4,602,233.42 |
| Year 4 PV (M) | 5,622,854.03 | 5,844,383.02 | 6,072,394.26 |
| Year 5 PV (M) | 6,861,132.62 | 7,200,673.84 | 7,553,526.43 |
| PV of Terminal Value (M) | 447,430,674.76 | 469,572,960.39 | 492,583,311.87 |
| Equity Value (M) | 468,945,642.11 | 491,851,880.93 | 515,649,029.23 |
| Shares Outstanding (M) | 641.96 | 641.96 | 641.96 |
| Fair Value | $730,485.89 | $766,167.39 | $803,236.68 |
| Upside / Downside | 1,758.74% | 1,849.54% | 1,943.86% |
| 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% |