Definitive Analysis
| Stable Growth | $30,774.64 - $109,727.12 | $100,194.39 |
| Multi-Stage | $14,518.82 - $15,854.94 | $15,174.76 |
| Blended Fair Value | $57,684.57 | |
| Current Price | $4,400.00 | |
| Upside | 1,211.01% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 24.03% | 19.72% | 353.96 | 264.67 | 180.18 | 110.05 | 177.49 | 120.61 | 99.51 | 66.57 | 65.36 | 53.23 |
| YoY Growth | - | - | 33.74% | 46.89% | 63.72% | -38.00% | 47.17% | 21.20% | 49.49% | 1.84% | 22.80% | -9.03% |
| Dividend Yield | - | - | 6.81% | 3.84% | 3.49% | 2.79% | 5.77% | 5.15% | 2.68% | 1.73% | 2.23% | 2.07% |
| Net Income To Common (M) | 51,495,530.00 |
| (-) Cash Dividends Paid (M) | 43,510,539.00 |
| (=) Cash Retained (M) | 7,984,991.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 10,299,106.00 | 6,436,941.25 | 3,862,164.75 |
| Cash Retained (M) | 7,984,991.00 | 7,984,991.00 | 7,984,991.00 |
| (-) Cash Required (M) | -10,299,106.00 | -6,436,941.25 | -3,862,164.75 |
| (=) Excess Retained (M) | -2,314,115.00 | 1,548,049.75 | 4,122,826.25 |
| (/) Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| (=) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| LTM Dividend per Share | 466.19 | 466.19 | 466.19 |
| (+) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| (=) Adjusted Dividend | 441.39 | 482.77 | 510.36 |
| WACC / Discount Rate | 7.01% | 7.01% | 7.01% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,774.64 | $100,194.39 | $109,727.12 |
| Upside / Downside | 599.42% | 2,177.15% | 2,393.80% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 51,495,530.00 | 54,842,739.45 | 58,407,517.51 | 62,204,006.15 | 66,247,266.55 | 70,553,338.88 | 72,669,939.04 |
| Payout Ratio | 84.49% | 85.60% | 86.70% | 87.80% | 88.90% | 90.00% | 92.50% |
| Projected Dividends (M) | 43,510,539.00 | 46,942,672.33 | 50,637,150.96 | 54,613,579.03 | 58,893,000.78 | 63,498,004.99 | 67,219,693.62 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.01% | 7.01% | 7.01% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 43,454,373.74 | 43,866,263.54 | 44,278,153.33 |
| Year 2 PV (M) | 43,391,097.47 | 44,217,576.00 | 45,051,851.50 |
| Year 3 PV (M) | 43,320,922.52 | 44,564,510.53 | 45,831,672.96 |
| Year 4 PV (M) | 43,244,056.65 | 44,907,101.03 | 46,617,657.42 |
| Year 5 PV (M) | 43,160,703.08 | 45,245,381.18 | 47,409,844.81 |
| PV of Terminal Value (M) | 1,138,515,871.49 | 1,193,506,613.79 | 1,250,601,981.24 |
| Equity Value (M) | 1,355,087,024.95 | 1,416,307,446.06 | 1,479,791,161.27 |
| Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| Fair Value | $14,518.82 | $15,174.76 | $15,854.94 |
| Upside / Downside | 229.97% | 244.88% | 260.34% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 1272.HK | Datang Environment Industry Group Co., Ltd. | 13.53% | $0.15 | 42.28% |
| MID-UN.TO | MINT Income Fund | 13.47% | $1.06 | 61.55% |
| 1126.HK | Dream International Limited | 13.45% | $1.15 | 50.50% |
| HCO.PA | High Co. S.A. | 13.45% | $0.53 | 62.33% |
| 2348.HK | Dawnrays Pharmaceutical (Holdings) Limited | 13.44% | $0.16 | 33.06% |
| 0384.HK | China Gas Holdings Limited | 13.43% | $1.04 | 94.76% |
| AEF | Abrdn Emerging Markets Equity Income Fund Inc | 13.42% | $0.96 | 61.57% |
| 9616.HK | Neutech Group Limited | 13.40% | $0.34 | 55.10% |
| WN-PA.TO | George Weston Limited | 13.36% | $3.41 | 27.39% |
| CY4.F | Kelsian Group Limited | 13.31% | $0.32 | 78.26% |
| 1100.HK | Mainland Headwear Holdings Limited | 13.28% | $0.17 | 42.95% |
| 1755.HK | S-Enjoy Service Group Co., Limited | 13.28% | $0.37 | 33.22% |
| DRR.AX | Deterra Royalties Limited | 13.28% | $0.55 | 93.57% |
| 2942.TWO | Jing-Jan Retail Business Co., Ltd. | 13.27% | $4.19 | 62.94% |
| 1985.HK | Microware Group Limited | 13.26% | $0.17 | 68.95% |
| SSG.AX | Shaver Shop Group Limited | 13.25% | $0.20 | 86.08% |
| 1553.HK | Maike Tube Industry Holdings Limited | 13.22% | $0.20 | 27.92% |
| 3306.HK | JNBY Design Limited | 13.22% | $2.55 | 77.85% |
| 0363.HK | Shanghai Industrial Holdings Limited | 13.17% | $1.90 | 35.00% |
| 0579.HK | Beijing Jingneng Clean Energy Co., Limited | 13.09% | $0.30 | 42.68% |
| RI.PA | Pernod Ricard S.A. | 13.06% | $9.53 | 77.43% |
| VULC3.SA | Vulcabras S.A. | 13.05% | $2.60 | 60.16% |
| 600919.SS | Bank of Jiangsu Co., Ltd. | 13.01% | $1.35 | 72.63% |
| 1551.HK | Guangzhou Rural Commercial Bank Co., Ltd. | 13.00% | $0.20 | 58.85% |
| EIT-UN.TO | Canoe EIT Income Fund | 13.00% | $2.05 | 42.34% |
| 4334.SR | Al Maather Reit Fund | 12.98% | $1.16 | 89.22% |
| BCE-PA.TO | BCE Inc. | 12.97% | $2.71 | 39.91% |
| HLO.AX | Helloworld Travel Limited | 12.97% | $0.25 | 67.50% |
| 4347.SR | Bonyan REIT Fund | 12.96% | $1.21 | 93.24% |
| 1526.HK | Rici Healthcare Holdings Limited | 12.94% | $0.14 | 38.91% |
| 3709.HK | EEKA Fashion Holdings Limited | 12.93% | $0.99 | 58.41% |
| ELSA.JK | PT Elnusa Tbk | 12.90% | $65.79 | 79.08% |
| 3348.HK | China PengFei Group Limited | 12.88% | $0.16 | 42.43% |
| BAYU.JK | PT Bayu Buana Tbk | 12.87% | $175.00 | 59.18% |
| MJLF.BK | Major Cineplex Lifestyle Leasehold Property Fund. | 12.81% | $0.62 | 46.37% |
| 037460.KQ | Samji Electronics Co., Ltd. | 12.80% | $1,880.76 | 47.73% |
| 1785.HK | Chengdu Expressway Co., Ltd. | 12.79% | $0.26 | 88.07% |
| GWO-PN.TO | Great-West Lifeco Inc. | 12.76% | $2.39 | 53.09% |
| UNC.TO | United Corporations Limited | 12.75% | $1.87 | 60.14% |
| FDJ.PA | FDJ United | 12.74% | $3.83 | 90.91% |
| IRAO.ME | PJSC Inter RAO UES | 12.74% | $0.39 | 19.11% |
| 0OGG.L | S.A. Catana Group | 12.72% | $0.37 | 22.37% |
| TAPG.JK | PT Triputra Agro Persada Tbk | 12.65% | $191.00 | 90.66% |
| 2407.HK | Gaush Meditech Ltd | 12.64% | $1.02 | 77.13% |
| MPCK.DE | MPC Münchmeyer Petersen Capital AG | 12.63% | $0.62 | 60.64% |
| EDL.DE | Edel SE & Co. KGaA | 12.60% | $0.57 | 54.20% |
| 0086.HK | Sun Hung Kai & Co. Limited | 12.59% | $0.52 | 94.25% |
| 4340.SR | Al Rajhi REIT Fund | 12.56% | $1.00 | 83.50% |
| TRMD | TORM plc | 12.54% | $2.48 | 90.35% |
| 0819.HK | Tianneng Power International Limited | 12.50% | $0.89 | 35.06% |