DDM Analysis: 603037.SS

Valuation Snapshot

Stable Growth	$72.93 - $85.92	$80.52
Multi-Stage	$61.75 - $67.75	$64.69
Blended Fair Value	$72.61
Current Price	$13.89
Upside	422.72%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-2.51%	12.78%	0.35	0.31	0.31	0.31	0.29	0.39	0.37	0.28	0.27	0.09
YoY Growth	-	-	11.32%	0.05%	-0.38%	9.18%	-27.31%	7.07%	32.37%	3.70%	200.00%	-14.29%
Dividend Yield	-	-	2.91%	2.08%	4.23%	4.55%	4.54%	6.50%	4.28%	2.84%	1.64%	1.28%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	87.25
(-) Cash Dividends Paid (M)	68.66
(=) Cash Retained (M)	18.58

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	17.45	10.91	6.54
Cash Retained (M)	18.58	18.58	18.58
(-) Cash Required (M)	-17.45	-10.91	-6.54
(=) Excess Retained (M)	1.13	7.68	12.04
(/) Shares Outstanding (M)	201.94	201.94	201.94
(=) Excess Retained per Share	0.01	0.04	0.06
LTM Dividend per Share	0.34	0.34	0.34
(+) Excess Retained per Share	0.01	0.04	0.06
(=) Adjusted Dividend	0.35	0.38	0.40
WACC / Discount Rate	-1.97%	-1.97%	-1.97%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$72.93	$80.52	$85.92
Upside / Downside	425.03%	479.70%	518.58%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	87.25	92.92	98.96	105.39	112.24	119.54	123.12
Payout Ratio	78.70%	80.96%	83.22%	85.48%	87.74%	90.00%	92.50%
Projected Dividends (M)	68.66	75.23	82.35	90.09	98.48	107.58	113.89

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	-1.97%	-1.97%	-1.97%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	76.02	76.74	77.46
Year 2 PV (M)	84.10	85.70	87.32
Year 3 PV (M)	92.96	95.63	98.35
Year 4 PV (M)	102.69	106.64	110.70
Year 5 PV (M)	113.37	118.84	124.53
PV of Terminal Value (M)	12,001.01	12,580.67	13,182.51
Equity Value (M)	12,470.15	13,064.22	13,680.86
Shares Outstanding (M)	201.94	201.94	201.94
Fair Value	$61.75	$64.69	$67.75
Upside / Downside	344.57%	365.75%	387.73%

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

Shanghai Carthane Co.,Ltd. (603037.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener