Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

CTBC Financial Holding Co., Ltd. (2891.TW)

Company Dividend Discount ModelIndustry: Insurance - LifeSector: Financial Services

Valuation Snapshot

Stable Growth$254.99 - $740.05$693.53
Multi-Stage$103.86 - $113.55$108.62
Blended Fair Value$401.08
Current Price$42.90
Upside834.91%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.64%20.71%1.841.041.281.081.031.021.060.980.730.62
YoY Growth--76.93%-18.73%18.55%5.15%1.18%-3.91%8.22%33.33%18.16%121.07%
Dividend Yield--4.67%3.29%5.87%3.68%4.65%5.68%5.21%4.61%3.91%3.65%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)74,138.43
(-) Cash Dividends Paid (M)46,725.81
(=) Cash Retained (M)27,412.62
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)14,827.699,267.305,560.38
Cash Retained (M)27,412.6227,412.6227,412.62
(-) Cash Required (M)-14,827.69-9,267.30-5,560.38
(=) Excess Retained (M)12,584.9418,145.3221,852.24
(/) Shares Outstanding (M)19,923.3919,923.3919,923.39
(=) Excess Retained per Share0.630.911.10
LTM Dividend per Share2.352.352.35
(+) Excess Retained per Share0.630.911.10
(=) Adjusted Dividend2.983.263.44
WACC / Discount Rate6.73%6.73%6.73%
Growth Rate5.50%6.50%7.50%
Fair Value$254.99$693.53$740.05
Upside / Downside494.38%1,516.63%1,625.06%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)74,138.4378,957.4384,089.6689,555.4995,376.60101,576.08104,623.36
Payout Ratio63.03%68.42%73.82%79.21%84.61%90.00%92.50%
Projected Dividends (M)46,725.8154,022.7362,070.8370,936.9480,693.3991,418.4796,776.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.73%6.73%6.73%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)50,140.1950,615.4651,090.72
Year 2 PV (M)53,469.5554,487.9955,516.05
Year 3 PV (M)56,715.3958,343.4860,002.44
Year 4 PV (M)59,879.1962,181.9764,550.55
Year 5 PV (M)62,962.4266,003.5369,161.02
PV of Terminal Value (M)1,786,129.401,872,400.121,961,972.62
Equity Value (M)2,069,296.142,164,032.552,262,293.40
Shares Outstanding (M)19,923.3919,923.3919,923.39
Fair Value$103.86$108.62$113.55
Upside / Downside142.10%153.19%164.68%

High-Yield Dividend Screener

« Prev Page 3 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
1272.HKDatang Environment Industry Group Co., Ltd.13.53%$0.1542.28%
MID-UN.TOMINT Income Fund13.47%$1.0661.55%
1126.HKDream International Limited13.45%$1.1550.50%
HCO.PAHigh Co. S.A.13.45%$0.5362.33%
2348.HKDawnrays Pharmaceutical (Holdings) Limited13.44%$0.1633.06%
0384.HKChina Gas Holdings Limited13.43%$1.0494.76%
AEFAbrdn Emerging Markets Equity Income Fund Inc13.42%$0.9661.57%
9616.HKNeutech Group Limited13.40%$0.3455.10%
WN-PA.TOGeorge Weston Limited13.36%$3.4127.39%
CY4.FKelsian Group Limited13.31%$0.3278.26%
1100.HKMainland Headwear Holdings Limited13.28%$0.1742.95%
1755.HKS-Enjoy Service Group Co., Limited13.28%$0.3733.22%
DRR.AXDeterra Royalties Limited13.28%$0.5593.57%
2942.TWOJing-Jan Retail Business Co., Ltd.13.27%$4.1962.94%
1985.HKMicroware Group Limited13.26%$0.1768.95%
SSG.AXShaver Shop Group Limited13.25%$0.2086.08%
1553.HKMaike Tube Industry Holdings Limited13.22%$0.2027.92%
3306.HKJNBY Design Limited13.22%$2.5577.85%
0363.HKShanghai Industrial Holdings Limited13.17%$1.9035.00%
0579.HKBeijing Jingneng Clean Energy Co., Limited13.09%$0.3042.68%
RI.PAPernod Ricard S.A.13.06%$9.5377.43%
VULC3.SAVulcabras S.A.13.05%$2.6060.16%
600919.SSBank of Jiangsu Co., Ltd.13.01%$1.3572.63%
1551.HKGuangzhou Rural Commercial Bank Co., Ltd.13.00%$0.2058.85%
EIT-UN.TOCanoe EIT Income Fund13.00%$2.0542.34%
4334.SRAl Maather Reit Fund12.98%$1.1689.22%
BCE-PA.TOBCE Inc.12.97%$2.7139.91%
HLO.AXHelloworld Travel Limited12.97%$0.2567.50%
4347.SRBonyan REIT Fund12.96%$1.2193.24%
1526.HKRici Healthcare Holdings Limited12.94%$0.1438.91%
3709.HKEEKA Fashion Holdings Limited12.93%$0.9958.41%
ELSA.JKPT Elnusa Tbk12.90%$65.7979.08%
3348.HKChina PengFei Group Limited12.88%$0.1642.43%
BAYU.JKPT Bayu Buana Tbk12.87%$175.0059.18%
MJLF.BKMajor Cineplex Lifestyle Leasehold Property Fund.12.81%$0.6246.37%
037460.KQSamji Electronics Co., Ltd.12.80%$1,880.7647.73%
1785.HKChengdu Expressway Co., Ltd.12.79%$0.2688.07%
GWO-PN.TOGreat-West Lifeco Inc.12.76%$2.3953.09%
UNC.TOUnited Corporations Limited12.75%$1.8760.14%
FDJ.PAFDJ United12.74%$3.8390.91%
IRAO.MEPJSC Inter RAO UES12.74%$0.3919.11%
0OGG.LS.A. Catana Group12.72%$0.3722.37%
TAPG.JKPT Triputra Agro Persada Tbk12.65%$191.0090.66%
2407.HKGaush Meditech Ltd12.64%$1.0277.13%
MPCK.DEMPC Münchmeyer Petersen Capital AG12.63%$0.6260.64%
EDL.DEEdel SE & Co. KGaA12.60%$0.5754.20%
0086.HKSun Hung Kai & Co. Limited12.59%$0.5294.25%
4340.SRAl Rajhi REIT Fund12.56%$1.0083.50%
TRMDTORM plc12.54%$2.4890.35%
0819.HKTianneng Power International Limited12.50%$0.8935.06%