Definitive Analysis
| Stable Growth | $459,181.18 - $2,492,807.46 | $896,321.64 |
| Multi-Stage | $504,732.83 - $554,717.22 | $529,249.87 |
| Blended Fair Value | $712,785.76 | |
| Current Price | $39,300.00 | |
| Upside | 1,713.70% | |
| 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 | 5.32% | 5.32% | 5.32% |
| Growth Rate | 3.02% | 4.02% | 5.02% |
| Fair Value | $459,181.18 | $896,321.64 | $2,492,807.46 |
| Upside / Downside | 1,068.40% | 2,180.72% | 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 | 5.32% | 5.32% | 5.32% |
| Growth Rate | 3.02% | 4.02% | 5.02% |
| Year 1 PV (M) | 1,651,329.20 | 1,667,359.03 | 1,683,388.86 |
| Year 2 PV (M) | 2,984,590.79 | 3,042,816.23 | 3,101,604.16 |
| Year 3 PV (M) | 4,258,757.14 | 4,383,987.12 | 4,511,648.31 |
| Year 4 PV (M) | 5,475,775.12 | 5,691,509.50 | 5,913,556.57 |
| Year 5 PV (M) | 6,637,534.74 | 6,966,010.64 | 7,307,364.09 |
| PV of Terminal Value (M) | 303,012,319.67 | 318,007,682.54 | 333,590,923.42 |
| Equity Value (M) | 324,020,306.66 | 339,759,365.06 | 356,108,485.40 |
| Shares Outstanding (M) | 641.96 | 641.96 | 641.96 |
| Fair Value | $504,732.83 | $529,249.87 | $554,717.22 |
| Upside / Downside | 1,184.31% | 1,246.69% | 1,311.49% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| U96.SI | Sembcorp Industries Ltd | 5.19% | $0.32 | 29.05% |
| CIN.AX | Carlton Investments Limited | 5.18% | $1.79 | 61.04% |
| MERK.JK | PT Merck Tbk | 5.18% | $170.31 | 42.74% |
| 0QQ2.L | Geberit AG | 5.17% | $25.42 | 71.02% |
| 2640.TWO | Taiwan Taxi Co.,Ltd. | 5.17% | $7.01 | 77.56% |
| 603508.SS | Henan Thinker Automatic Equipment Co., Ltd. | 5.17% | $1.44 | 88.86% |
| RICHT.BD | Chemical Works | 5.17% | $509.83 | 41.05% |
| FPT.BK | Frasers Property (Thailand) Public Company Limited | 5.16% | $0.31 | 40.49% |
| YSON.F | Sonae, SGPS, S.A. | 5.16% | $0.09 | 60.40% |
| 0QS5.L | Bossard Holding AG | 5.15% | $7.90 | 44.91% |
| 2341.HK | EcoGreen International Group Limited | 5.15% | $0.10 | 9.70% |
| 4942.TW | Chia Chang Co., Ltd | 5.15% | $1.99 | 67.15% |
| 601555.SS | Soochow Securities Co., Ltd. | 5.15% | $0.47 | 66.76% |
| 601686.SS | Tianjin You Fa Steel Pipe Group Stock Co., Ltd. | 5.15% | $0.32 | 56.09% |
| 6979.HK | ZJLD Group Inc | 5.15% | $0.45 | 56.09% |
| 3118.TWO | Level Biotechnology Inc. | 5.14% | $1.70 | 80.08% |
| ALTOU.PA | Touax | 5.14% | $0.22 | 20.71% |
| BE8.BK | Beryl 8 Plus Public Company Limited | 5.14% | $0.24 | 75.69% |
| KEG-UN.TO | The Keg Royalties Income Fund | 5.14% | $0.96 | 84.63% |
| QEWS.QA | Qatar Electricity & Water Company Q.P.S.C. | 5.14% | $0.77 | 67.87% |
| 6805.HK | Kimou Environmental Holding Limited | 5.13% | $0.13 | 60.10% |
| 9521.SR | Inmar Company for Real Estate Development and Investment | 5.13% | $1.00 | 24.60% |
| MTI.BK | Muang Thai Insurance Public Company Limited | 5.13% | $0.80 | 45.07% |
| 3218.TWO | Universal Vision Biotechnology Co., Ltd. | 5.12% | $7.47 | 71.57% |
| 600694.SS | Dashang Co., Ltd. | 5.12% | $0.92 | 63.22% |
| 601877.SS | Zhejiang Chint Electrics Co., Ltd. | 5.12% | $1.43 | 67.03% |
| GL9.IR | Glanbia plc | 5.12% | $0.74 | 50.22% |
| STBP3.SA | Santos Brasil Participações S.A. | 5.12% | $0.74 | 78.31% |
| WSU.DE | WashTec AG | 5.12% | $2.40 | 92.47% |
| 0RUJ.L | Delta Plus Group | 5.11% | $2.48 | 29.42% |
| 2887.TW | TS Financial Holding Co., Ltd. | 5.11% | $1.04 | 93.64% |
| 3003.SR | City Cement Company | 5.11% | $0.65 | 66.06% |
| ALVU.PA | Vente-Unique.com S.A. | 5.11% | $0.79 | 45.95% |
| CAML3.SA | Camil Alimentos S.A. | 5.11% | $0.28 | 60.82% |
| RECT | Rectitude Holdings Ltd Ordinary Shares | 5.11% | $0.09 | 26.70% |
| 603518.SS | Jinhong Fashion Group Co.,Ltd. | 5.10% | $0.49 | 66.21% |
| 6242.TWO | Li Kang Biomedical Co., Ltd. | 5.10% | $2.00 | 77.54% |
| ECMPA.AS | Eurocommercial Properties N.V. | 5.10% | $1.33 | 55.30% |
| NOMD | Nomad Foods Limited | 5.09% | $0.62 | 46.03% |
| 2249.TWO | Young Shine Electric Co., Ltd. | 5.08% | $4.71 | 21.31% |
| ARZZ3.SA | Arezzo Indústria e Comércio S.A. | 5.08% | $2.67 | 67.63% |
| CMAN.BK | Chememan Public Company Limited | 5.08% | $0.12 | 31.80% |
| LST.BK | Lam Soon (Thailand) Public Company Limited | 5.08% | $0.24 | 36.51% |
| VEI.OL | Veidekke ASA | 5.08% | $8.90 | 90.00% |
| 013570.KS | DY Corporation | 5.07% | $230.54 | 20.72% |
| 086790.KS | Hana Financial Group Inc. | 5.07% | $4,736.72 | 33.98% |
| 129260.KS | Intergis Co., Ltd | 5.07% | $121.38 | 22.66% |
| CUP-U.TO | Caribbean Utilities Company, Ltd. | 5.07% | $0.69 | 64.16% |
| MMAQ3.SA | Minasmaquinas S.A. | 5.07% | $129.21 | 12.04% |
| QATI.QA | Qatar Insurance Company Q.S.P.C. | 5.07% | $0.10 | 45.46% |