Definitive Analysis
| Stable Growth | $509,427.95 - $2,606,497.70 | $1,042,641.85 |
| Multi-Stage | $277,351.97 - $303,567.24 | $290,219.21 |
| Blended Fair Value | $666,430.53 | |
| Current Price | $113,500.00 | |
| Upside | 487.16% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 23.44% | 29.23% | 2,870.25 | 226.95 | 353.16 | 1,763.37 | 1,094.32 | 1,001.52 | 1,120.69 | 842.11 | 681.74 | 326.16 |
| YoY Growth | - | - | 1,164.70% | -35.74% | -79.97% | 61.14% | 9.27% | -10.63% | 33.08% | 23.52% | 109.02% | 47.58% |
| Dividend Yield | - | - | 2.35% | 0.28% | 0.91% | 4.34% | 6.36% | 9.72% | 7.86% | 5.69% | 5.61% | 2.64% |
| Net Income To Common (M) | 2,329,894.39 |
| (-) Cash Dividends Paid (M) | 285,347.12 |
| (=) Cash Retained (M) | 2,044,547.27 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 465,978.88 | 291,236.80 | 174,742.08 |
| Cash Retained (M) | 2,044,547.27 | 2,044,547.27 | 2,044,547.27 |
| (-) Cash Required (M) | -465,978.88 | -291,236.80 | -174,742.08 |
| (=) Excess Retained (M) | 1,578,568.40 | 1,753,310.48 | 1,869,805.19 |
| (/) Shares Outstanding (M) | 177.77 | 177.77 | 177.77 |
| (=) Excess Retained per Share | 8,879.82 | 9,862.79 | 10,518.10 |
| LTM Dividend per Share | 1,605.15 | 1,605.15 | 1,605.15 |
| (+) Excess Retained per Share | 8,879.82 | 9,862.79 | 10,518.10 |
| (=) Adjusted Dividend | 10,484.97 | 11,467.93 | 12,123.25 |
| WACC / Discount Rate | 7.67% | 7.67% | 7.67% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $509,427.95 | $1,042,641.85 | $2,606,497.70 |
| Upside / Downside | 348.84% | 818.63% | 2,196.47% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,329,894.39 | 2,481,337.53 | 2,642,624.47 | 2,814,395.06 | 2,997,330.74 | 3,192,157.23 | 3,287,921.95 |
| Payout Ratio | 12.25% | 27.80% | 43.35% | 58.90% | 74.45% | 90.00% | 92.50% |
| Projected Dividends (M) | 285,347.12 | 689,756.50 | 1,145,533.51 | 1,657,647.31 | 2,231,496.02 | 2,872,941.51 | 3,041,327.80 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.67% | 7.67% | 7.67% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 634,597.50 | 640,612.64 | 646,627.78 |
| Year 2 PV (M) | 969,645.31 | 988,114.33 | 1,006,757.59 |
| Year 3 PV (M) | 1,290,921.37 | 1,327,979.08 | 1,365,739.29 |
| Year 4 PV (M) | 1,598,844.87 | 1,660,331.93 | 1,723,575.63 |
| Year 5 PV (M) | 1,893,823.69 | 1,985,296.09 | 2,080,269.34 |
| PV of Terminal Value (M) | 42,917,096.39 | 44,990,008.19 | 47,142,255.21 |
| Equity Value (M) | 49,304,929.12 | 51,592,342.26 | 53,965,224.84 |
| Shares Outstanding (M) | 177.77 | 177.77 | 177.77 |
| Fair Value | $277,351.97 | $290,219.21 | $303,567.24 |
| Upside / Downside | 144.36% | 155.70% | 167.46% |
| 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% |