Definitive Analysis
| Stable Growth | $956,301.75 - $3,949,959.84 | $2,458,251.08 |
| Multi-Stage | $472,811.64 - $517,218.91 | $494,608.90 |
| Blended Fair Value | $1,476,429.99 | |
| Current Price | $100,700.00 | |
| Upside | 1,366.17% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 43.48% | 22.71% | 5,567.30 | 3,560.33 | 3,051.71 | 1,017.24 | 1,169.82 | 915.51 | 813.79 | 1,118.96 | 1,118.96 | 1,025.17 |
| YoY Growth | - | - | 56.37% | 16.67% | 200.00% | -13.04% | 27.78% | 12.50% | -27.27% | 0.00% | 9.15% | 42.53% |
| Dividend Yield | - | - | 6.03% | 3.28% | 3.77% | 1.37% | 1.41% | 3.52% | 2.30% | 3.61% | 3.02% | 2.12% |
| Net Income To Common (M) | 7,828,160.00 |
| (-) Cash Dividends Paid (M) | 2,559,045.00 |
| (=) Cash Retained (M) | 5,269,115.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,565,632.00 | 978,520.00 | 587,112.00 |
| Cash Retained (M) | 5,269,115.00 | 5,269,115.00 | 5,269,115.00 |
| (-) Cash Required (M) | -1,565,632.00 | -978,520.00 | -587,112.00 |
| (=) Excess Retained (M) | 3,703,483.00 | 4,290,595.00 | 4,682,003.00 |
| (/) Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| (=) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| LTM Dividend per Share | 6,492.78 | 6,492.78 | 6,492.78 |
| (+) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| (=) Adjusted Dividend | 15,889.22 | 17,378.83 | 18,371.91 |
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $956,301.75 | $2,458,251.08 | $3,949,959.84 |
| Upside / Downside | 849.65% | 2,341.16% | 3,822.50% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,828,160.00 | 8,336,990.40 | 8,878,894.78 | 9,456,022.94 | 10,070,664.43 | 10,725,257.62 | 11,047,015.34 |
| Payout Ratio | 32.69% | 44.15% | 55.61% | 67.08% | 78.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,559,045.00 | 3,680,964.61 | 4,937,921.81 | 6,342,731.36 | 7,909,303.44 | 9,652,731.85 | 10,218,489.19 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,399,815.93 | 3,432,041.67 | 3,464,267.41 |
| Year 2 PV (M) | 4,212,420.64 | 4,292,655.42 | 4,373,647.13 |
| Year 3 PV (M) | 4,997,555.23 | 5,141,017.09 | 5,287,198.51 |
| Year 4 PV (M) | 5,755,900.58 | 5,977,256.28 | 6,204,935.95 |
| Year 5 PV (M) | 6,488,122.63 | 6,801,501.38 | 7,126,873.87 |
| PV of Terminal Value (M) | 161,498,746.65 | 169,299,196.50 | 177,398,187.93 |
| Equity Value (M) | 186,352,561.66 | 194,943,668.33 | 203,855,110.80 |
| Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| Fair Value | $472,811.64 | $494,608.90 | $517,218.91 |
| Upside / Downside | 369.52% | 391.17% | 413.62% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 002450.KS | SAMICK MUSICAL INSTRUMENT Co., Ltd | 4.08% | $49.79 | 18.17% |
| 003380.KQ | Harim Holdings Co., Ltd. | 4.08% | $447.07 | 36.82% |
| 2798.HK | Perennial Energy Holdings Limited | 4.08% | $0.05 | 9.52% |
| N2IU.SI | Mapletree Pan Asia Commercial Trust | 4.08% | $0.06 | 45.97% |
| WIPRO.BO | Wipro Limited | 4.08% | $10.98 | 85.26% |
| 000421.SZ | Nanjing Public Utilities Development Co., Ltd. | 4.07% | $0.28 | 91.69% |
| 003030.KS | SeAH Steel Holdings Corporation | 4.07% | $5,154.53 | 38.17% |
| 2154.T | Open Up Group Inc. | 4.07% | $75.01 | 51.97% |
| 6411.TWO | Amazing Microelectronic Corp. | 4.07% | $3.15 | 85.74% |
| KINO.JK | PT Kino Indonesia Tbk | 4.06% | $56.17 | 56.49% |
| WIIM.JK | PT Wismilak Inti Makmur Tbk | 4.06% | $64.80 | 35.76% |
| 134380.KS | Miwon Chemicals Co., Ltd. | 4.05% | $3,833.42 | 33.65% |
| 2912.TW | President Chain Store Corporation | 4.05% | $8.98 | 83.72% |
| 5438.TWO | Teco Image Systems Co., Ltd. | 4.05% | $0.93 | 78.68% |
| IG.MI | Italgas S.p.A. | 4.05% | $0.39 | 36.35% |
| TWR.AX | Tower Limited | 4.05% | $0.07 | 19.30% |
| 002215.SZ | Shenzhen Noposion Agrochemicals Co.,Ltd | 4.04% | $0.43 | 61.18% |
| 1603.TW | China Wire & Cable Co., Ltd. | 4.04% | $1.50 | 40.87% |
| 601567.SS | Ningbo Sanxing Medical Electric Co.,Ltd. | 4.04% | $0.93 | 65.61% |
| 6846.TWO | Greenyn Biotechnology Co., Ltd | 4.04% | $2.98 | 67.75% |
| ASEFA.BK | Asefa Public Company Limited | 4.04% | $0.14 | 36.27% |
| JLG.AX | Johns Lyng Group Limited | 4.04% | $0.16 | 53.65% |
| 004910.KS | Chokwang Paint Co., Ltd. | 4.03% | $200.13 | 55.11% |
| JTPE.JK | PT Jasuindo Tiga Perkasa Tbk | 4.03% | $24.00 | 60.60% |
| MTDL.JK | PT Metrodata Electronics Tbk | 4.03% | $24.00 | 39.08% |
| SPINNEYS.AE | Spinneys 1961 Hold | 4.03% | $0.06 | 66.84% |
| 605077.SS | Zhejiang Huakang Pharmaceutical Co., Ltd. | 4.02% | $0.59 | 70.96% |
| 6190.HK | Bank of Jiujiang Co., Ltd. | 4.02% | $0.07 | 9.94% |
| THANI.BK | Ratchthani Leasing Public Company Limited | 4.02% | $0.07 | 45.63% |
| 010770.KS | Pyung Hwa Holdings Co., Ltd. | 4.01% | $149.90 | 11.24% |
| 0RPP.L | Valartis Group AG | 4.01% | $0.49 | 9.63% |
| 301004.SZ | Zhejiang Cayi Vacuum Container Co., Ltd. | 4.01% | $2.09 | 54.91% |
| 4968.T | Arakawa Chemical Industries, Ltd. | 4.01% | $48.94 | 56.00% |
| FESA3.SA | Cia de Ferro Ligas da Bahia - FERBASA | 4.01% | $0.46 | 76.61% |
| HBOR3.SA | Helbor Empreendimentos S.A. | 4.01% | $0.10 | 32.33% |
| 089860.KS | LOTTE rental co.,ltd. | 4.00% | $1,199.98 | 35.09% |
| 0OJJ.L | ACTIA Group S.A. | 4.00% | $0.12 | 33.82% |
| 2128.HK | China Lesso Group Holdings Limited | 4.00% | $0.19 | 15.85% |
| 3338.TW | TaiSol Electronics Co., Ltd. | 4.00% | $2.01 | 85.10% |
| AIL.DE | L'Air Liquide S.A. | 4.00% | $6.35 | 56.81% |
| CUB | Lionheart Holdings | 4.00% | $0.43 | 93.60% |
| DHL.DE | Deutsche Post AG | 4.00% | $1.88 | 60.01% |
| FCMC.PA | Société Fermière du Casino Municipal de Cannes | 4.00% | $85.57 | 28.90% |
| 009160.KS | SIMPAC Inc. | 3.99% | $202.33 | 92.46% |
| 033780.KS | KT&G Corporation | 3.99% | $5,606.09 | 52.73% |
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| MULT3.SA | Multiplan Empreendimentos Imobiliários S.A. | 3.99% | $1.08 | 42.74% |
| 300641.SZ | Jiangsu Zhengdan Chemical Industry Co., Ltd. | 3.98% | $0.70 | 35.38% |
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