DDM Analysis: 600456.SS

Valuation Snapshot

Stable Growth	$17.55 - $48.33	$27.15
Multi-Stage	$11.76 - $12.86	$12.30
Blended Fair Value	$19.72
Current Price	$32.53
Upside	-39.37%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	4.60%	5.19%	0.47	0.58	1.09	1.26	0.41	0.38	0.27	0.31	0.30	0.32
YoY Growth	-	-	-19.51%	-46.33%	-13.85%	207.08%	9.59%	37.12%	-10.34%	1.96%	-6.38%	12.91%
Dividend Yield	-	-	1.42%	2.18%	3.05%	2.43%	1.06%	1.63%	1.07%	1.52%	1.28%	1.92%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	347.42
(-) Cash Dividends Paid (M)	51.30
(=) Cash Retained (M)	296.11

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	69.48	43.43	26.06
Cash Retained (M)	296.11	296.11	296.11
(-) Cash Required (M)	-69.48	-43.43	-26.06
(=) Excess Retained (M)	226.63	252.69	270.06
(/) Shares Outstanding (M)	477.75	477.75	477.75
(=) Excess Retained per Share	0.47	0.53	0.57
LTM Dividend per Share	0.11	0.11	0.11
(+) Excess Retained per Share	0.47	0.53	0.57
(=) Adjusted Dividend	0.58	0.64	0.67
WACC / Discount Rate	9.00%	9.00%	9.00%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$17.55	$27.15	$48.33
Upside / Downside	-46.04%	-16.55%	48.56%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	347.42	370.00	394.05	419.66	446.94	475.99	490.27
Payout Ratio	14.77%	29.81%	44.86%	59.91%	74.95%	90.00%	92.50%
Projected Dividends (M)	51.30	110.31	176.77	251.41	335.00	428.39	453.50

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.00%	9.00%	9.00%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	100.26	101.21	102.16
Year 2 PV (M)	146.01	148.80	151.60
Year 3 PV (M)	188.73	194.15	199.67
Year 4 PV (M)	228.56	237.35	246.39
Year 5 PV (M)	265.64	278.47	291.80
PV of Terminal Value (M)	4,689.79	4,916.31	5,151.49
Equity Value (M)	5,619.00	5,876.29	6,143.12
Shares Outstanding (M)	477.75	477.75	477.75
Fair Value	$11.76	$12.30	$12.86
Upside / Downside	-63.84%	-62.19%	-60.47%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 29 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
BTBT	Bit Digital, Inc.	0.25%	$0.01	1.17%
PVH	PVH Corp.	0.25%	$0.17	2.41%
AEL	American Equity Investment Life Holding Company	0.24%	$0.14	2.19%
CRS	Carpenter Technology Corporation	0.24%	$0.80	9.74%
L	Loews Corporation	0.24%	$0.25	3.58%
PRIM	Primoris Services Corporation	0.23%	$0.30	5.83%
TER	Teradyne, Inc.	0.23%	$0.48	17.39%
FOCS	Focus Financial Partners Inc.	0.22%	$0.12	19.23%
QCRH	QCR Holdings, Inc.	0.22%	$0.18	2.50%
RMAX	RE/MAX Holdings, Inc.	0.22%	$0.02	2.70%
VSEC	VSE Corporation	0.22%	$0.40	30.98%
0J5I.L	Hilton Worldwide Holdings Inc.	0.21%	$0.60	8.71%
PRVAX	Virginia Tax Free Bond Fund	0.21%	$0.02	89.04%
ACA	Arcosa, Inc.	0.19%	$0.20	6.66%
HWM	Howmet Aerospace Inc.	0.19%	$0.40	11.24%
USLM	United States Lime & Minerals, Inc.	0.19%	$0.23	5.04%
AEIS	Advanced Energy Industries, Inc.	0.18%	$0.40	10.65%
BELFA	Bel Fuse Inc.	0.18%	$0.28	5.31%
TILE	Interface, Inc.	0.18%	$0.05	2.63%
0K05.L	Medifast, Inc.	0.17%	$0.02	78.63%
AYI	Acuity Brands, Inc.	0.17%	$0.65	5.19%
BDC	Belden Inc.	0.17%	$0.20	3.53%
FIX	Comfort Systems USA, Inc.	0.17%	$1.70	7.18%
KNSL	Kinsale Capital Group, Inc.	0.17%	$0.66	3.24%
STCN	Steel Connect, Inc.	0.17%	$0.02	1.98%
VVI	Viad Corp	0.17%	$0.07	0.54%
ALNT	Allient Inc.	0.16%	$0.09	7.91%
CLSK	CleanSpark, Inc.	0.16%	$0.02	1.41%
EME	EMCOR Group, Inc.	0.16%	$1.01	4.01%
ESE	ESCO Technologies Inc.	0.16%	$0.32	2.76%
CW	Curtiss-Wright Corporation	0.15%	$0.87	7.08%
MU	Micron Technology, Inc.	0.15%	$0.46	6.11%
SPCMU	Sound Point Acquisition Corp I, Ltd	0.15%	$0.02	1.33%
ENSG	The Ensign Group, Inc.	0.14%	$0.24	4.34%
JBL	Jabil Inc.	0.14%	$0.33	5.48%
PFIE	Profire Energy, Inc.	0.14%	$0.00	1.99%
0R0A.L	Hecla Mining Company	0.13%	$0.02	5.24%
GNW	Genworth Financial, Inc.	0.13%	$0.01	2.27%
ONIT	Onity Group Inc.	0.13%	$0.06	1.46%
0A7O.L	MicroStrategy Incorporated	0.12%	$0.19	0.73%
0KGS.L	Pegasystems Inc.	0.12%	$0.07	4.63%
PRTAX	T. Rowe Price Tax-Free Income Fd	0.12%	$0.01	89.04%
WDC	Western Digital Corporation	0.12%	$0.22	3.25%
GEV	GE Vernova Inc.	0.11%	$0.75	12.15%
MPLF.L	Marble Point Loan Financing Limited	0.11%	$0.07	92.98%
EPAC	Enerpac Tool Group Corp.	0.10%	$0.04	2.34%
GRBK	Green Brick Partners, Inc.	0.10%	$0.07	0.85%
IR	Ingersoll Rand Inc.	0.10%	$0.08	5.89%
RAL	Ralliant Corp.	0.10%	$0.05	2.75%
TXT	Textron Inc.	0.10%	$0.08	1.79%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Baoji Titanium Industry Co., Ltd. (600456.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener