Definitive Analysis
| Stable Growth | $430,937.80 - $1,055,720.68 | $989,364.89 |
| Multi-Stage | $153,010.53 - $167,509.82 | $160,126.86 |
| Blended Fair Value | $574,745.87 | |
| Current Price | $22,850.00 | |
| Upside | 2,415.30% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 42.49% | 37.86% | 1,095.51 | 648.41 | 285.52 | 460.37 | 371.80 | 186.48 | 130.54 | 154.98 | 110.70 | 66.42 |
| YoY Growth | - | - | 68.95% | 127.10% | -37.98% | 23.82% | 99.37% | 42.86% | -15.77% | 40.00% | 66.67% | 50.31% |
| Dividend Yield | - | - | 5.32% | 3.97% | 1.89% | 3.26% | 5.98% | 3.70% | 1.95% | 2.21% | 0.92% | 0.51% |
| Net Income To Common (M) | 248,433.44 |
| (-) Cash Dividends Paid (M) | 74,819.01 |
| (=) Cash Retained (M) | 173,614.43 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 49,686.69 | 31,054.18 | 18,632.51 |
| Cash Retained (M) | 173,614.43 | 173,614.43 | 173,614.43 |
| (-) Cash Required (M) | -49,686.69 | -31,054.18 | -18,632.51 |
| (=) Excess Retained (M) | 123,927.74 | 142,560.25 | 154,981.92 |
| (/) Shares Outstanding (M) | 46.80 | 46.80 | 46.80 |
| (=) Excess Retained per Share | 2,648.06 | 3,046.19 | 3,311.61 |
| LTM Dividend per Share | 1,598.71 | 1,598.71 | 1,598.71 |
| (+) Excess Retained per Share | 2,648.06 | 3,046.19 | 3,311.61 |
| (=) Adjusted Dividend | 4,246.77 | 4,644.91 | 4,910.33 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $430,937.80 | $989,364.89 | $1,055,720.68 |
| Upside / Downside | 1,785.94% | 4,229.82% | 4,520.22% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 248,433.44 | 264,581.61 | 281,779.42 | 300,095.08 | 319,601.26 | 340,375.34 | 350,586.60 |
| Payout Ratio | 30.12% | 42.09% | 54.07% | 66.05% | 78.02% | 90.00% | 92.50% |
| Projected Dividends (M) | 74,819.01 | 111,370.49 | 152,357.54 | 198,202.38 | 249,363.33 | 306,337.81 | 324,292.61 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 103,552.74 | 104,534.29 | 105,515.83 |
| Year 2 PV (M) | 131,718.55 | 134,227.42 | 136,759.96 |
| Year 3 PV (M) | 159,324.79 | 163,898.43 | 168,558.77 |
| Year 4 PV (M) | 186,379.68 | 193,547.32 | 200,919.73 |
| Year 5 PV (M) | 212,891.37 | 223,174.11 | 233,850.38 |
| PV of Terminal Value (M) | 6,366,949.26 | 6,674,475.29 | 6,993,771.07 |
| Equity Value (M) | 7,160,816.40 | 7,493,856.85 | 7,839,375.74 |
| Shares Outstanding (M) | 46.80 | 46.80 | 46.80 |
| Fair Value | $153,010.53 | $160,126.86 | $167,509.82 |
| Upside / Downside | 569.63% | 600.77% | 633.08% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 603551.SS | AUPU Intelligent Technology Corporation Limited | 4.75% | $0.55 | 70.57% |
| ABCB4.SA | Banco ABC Brasil S.A. | 4.75% | $1.12 | 27.47% |
| ASSA.JK | PT Adi Sarana Armada Tbk | 4.75% | $55.37 | 53.84% |
| CHMF.ME | PJSC Severstal | 4.75% | $45.69 | 47.39% |
| LMN.SW | lastminute.com N.V. | 4.75% | $0.62 | 39.82% |
| LREN3.SA | Lojas Renner S.A. | 4.75% | $0.64 | 45.84% |
| POT.NZ | Port of Tauranga Limited | 4.75% | $0.37 | 93.98% |
| 005720.KS | Nexen Corporation | 4.74% | $283.16 | 21.67% |
| 0DTK.L | Savencia S.A. | 4.74% | $2.97 | 20.78% |
| 1368.HK | Xtep International Holdings Limited | 4.74% | $0.25 | 35.82% |
| 3030.SR | Saudi Cement Company | 4.74% | $1.64 | 59.10% |
| EGIE3.SA | Engie Brasil Energia S.A. | 4.74% | $1.48 | 39.71% |
| 3570.TWO | Otsuka Information Technology Corp. | 4.73% | $7.97 | 55.25% |
| 600096.SS | Yunnan Yuntianhua Co., Ltd. | 4.73% | $1.58 | 51.07% |
| CHE-UN.TO | Chemtrade Logistics Income Fund | 4.73% | $0.70 | 71.01% |
| GVH | Globavend Holdings Limited | 4.73% | $0.07 | 61.06% |
| MOUR.BR | Moury Construct S.A. | 4.73% | $27.35 | 20.85% |
| 1578.HK | Bank of Tianjin Co., Ltd. | 4.72% | $0.12 | 10.90% |
| 601598.SS | Sinotrans Limited | 4.72% | $0.29 | 56.81% |
| 6393.T | Yuken Kogyo Co., Ltd. | 4.72% | $152.08 | 45.60% |
| 7278.T | EXEDY Corporation | 4.72% | $264.78 | 76.11% |
| SHURB.XD | Shurgard Self Storage Ltd | 4.72% | $1.38 | 21.77% |
| TD | The Toronto-Dominion Bank | 4.72% | $4.46 | 37.31% |
| 0QLW.L | ALSO Holding AG | 4.71% | $10.07 | 55.86% |
| 111110.KS | Hojeon Limited | 4.71% | $377.81 | 20.16% |
| 3413.TW | Foxsemicon Integrated Technology Inc. | 4.71% | $13.29 | 62.47% |
| BVG.BK | BlueVenture Group Public Company Limited | 4.71% | $0.08 | 58.67% |
| DUNI.ST | Duni AB (publ) | 4.71% | $5.00 | 71.87% |
| 002810.KS | Samyung Trading Co., Ltd. | 4.70% | $746.82 | 22.45% |
| 013520.KS | Hwaseung Corporation Co.,Ltd. | 4.70% | $101.24 | 13.31% |
| 2S.BK | 2S Metal Public Company Limited | 4.70% | $0.11 | 76.54% |
| COLOR.BK | Salee Colour Public Company Limited | 4.70% | $0.05 | 65.65% |
| GJTL.JK | PT. Gajah Tunggal Tbk | 4.70% | $49.82 | 16.37% |
| JHSF3.SA | JHSF Participações S.A. | 4.70% | $0.37 | 19.33% |
| 0QLN.L | Tecan Group AG | 4.69% | $6.01 | 46.42% |
| 2891.TW | CTBC Financial Holding Co., Ltd. | 4.69% | $2.39 | 63.03% |
| 9536.SR | Arabian Food & Dairy Factories Company | 4.69% | $2.77 | 42.88% |
| KAMART.BK | Karmarts Public Company Limited | 4.69% | $0.42 | 80.09% |
| SNW.DE | Sanofi | 4.69% | $3.87 | 51.33% |
| WWL.WA | Wawel S.A. | 4.69% | $35.00 | 61.86% |
| 603299.SS | Jiang Su Suyan Jingshen Co.,Ltd. | 4.68% | $0.49 | 72.35% |
| 001790.KS | TS Corporation | 4.67% | $129.85 | 23.71% |
| 6049.HK | Poly Property Services Co., Ltd. | 4.67% | $1.51 | 27.86% |
| ABRD.ME | PJSC Abrau-Durso | 4.67% | $7.73 | 35.43% |
| CURY3.SA | Cury Construtora e Incorporadora S.A. | 4.67% | $1.47 | 49.28% |
| INCI.JK | PT Intanwijaya Internasional Tbk | 4.67% | $34.76 | 31.60% |
| NTGY.MC | Naturgy Energy Group, S.A. | 4.67% | $1.20 | 57.49% |
| 1015.KL | AMMB Holdings Berhad | 4.66% | $0.30 | 48.65% |
| 1686.HK | SUNeVision Holdings Ltd. | 4.66% | $0.22 | 47.87% |
| 1834.SR | Saudi Manpower Solutions Co. | 4.66% | $0.25 | 81.73% |