Definitive Analysis
| Stable Growth | $209,951.50 - $844,097.38 | $560,051.66 |
| Multi-Stage | $103,700.38 - $113,362.63 | $108,443.38 |
| Blended Fair Value | $334,247.52 | |
| Current Price | $26,775.00 | |
| Upside | 1,148.36% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.99% | 15.07% | 2,235.27 | 6,883.97 | 1,752.66 | 829.66 | 1,002.11 | 1,269.08 | 1,002.11 | 693.06 | 598.60 | 817.30 |
| YoY Growth | - | - | -67.53% | 292.77% | 111.25% | -17.21% | -21.04% | 26.64% | 44.59% | 15.78% | -26.76% | 48.78% |
| Dividend Yield | - | - | 9.49% | 28.65% | 6.02% | 3.25% | 4.53% | 7.51% | 3.68% | 2.17% | 2.26% | 5.34% |
| Net Income To Common (M) | 15,414,710.00 |
| (-) Cash Dividends Paid (M) | 7,808,837.00 |
| (=) Cash Retained (M) | 7,605,873.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,082,942.00 | 1,926,838.75 | 1,156,103.25 |
| Cash Retained (M) | 7,605,873.00 | 7,605,873.00 | 7,605,873.00 |
| (-) Cash Required (M) | -3,082,942.00 | -1,926,838.75 | -1,156,103.25 |
| (=) Excess Retained (M) | 4,522,931.00 | 5,679,034.25 | 6,449,769.75 |
| (/) Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| (=) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| LTM Dividend per Share | 2,150.12 | 2,150.12 | 2,150.12 |
| (+) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| (=) Adjusted Dividend | 3,395.49 | 3,713.82 | 3,926.03 |
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $209,951.50 | $560,051.66 | $844,097.38 |
| Upside / Downside | 684.13% | 1,991.70% | 3,052.56% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 15,414,710.00 | 16,416,666.15 | 17,483,749.45 | 18,620,193.16 | 19,830,505.72 | 21,119,488.59 | 21,753,073.25 |
| Payout Ratio | 50.66% | 58.53% | 66.40% | 74.26% | 82.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 7,808,837.00 | 9,608,129.03 | 11,608,336.69 | 13,827,977.00 | 16,287,125.33 | 19,007,539.73 | 20,121,592.76 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,878,133.73 | 8,962,286.66 | 9,046,439.58 |
| Year 2 PV (M) | 9,911,416.07 | 10,100,200.70 | 10,290,766.33 |
| Year 3 PV (M) | 10,909,559.51 | 11,222,733.76 | 11,541,844.79 |
| Year 4 PV (M) | 11,873,420.85 | 12,330,039.10 | 12,799,702.62 |
| Year 5 PV (M) | 12,803,838.45 | 13,422,268.64 | 14,064,367.60 |
| PV of Terminal Value (M) | 322,243,619.99 | 337,808,107.33 | 353,968,284.24 |
| Equity Value (M) | 376,619,988.60 | 393,845,636.20 | 411,711,405.16 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $103,700.38 | $108,443.38 | $113,362.63 |
| Upside / Downside | 287.30% | 305.02% | 323.39% |
| 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% |