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 % ⇵ |
|---|---|---|---|---|
| EG7.IR | FBD Holdings plc | 12.49% | $1.97 | 61.47% |
| WILC | G. Willi-Food International Ltd. | 12.48% | $3.58 | 52.70% |
| 9908.HK | JiaXing Gas Group Co., Ltd. | 12.44% | $1.02 | 40.94% |
| MPMX.JK | PT Mitra Pinasthika Mustika Tbk | 12.44% | $120.00 | 95.84% |
| 0QL5.L | Carlo Gavazzi Holding AG | 12.42% | $20.00 | 62.49% |
| GOZ.AX | Growthpoint Properties Australia | 12.40% | $0.30 | 16.37% |
| 1999.HK | Man Wah Holdings Limited | 12.39% | $0.57 | 57.62% |
| 1285.HK | Jiashili Group Limited | 12.38% | $0.14 | 55.24% |
| 600015.SS | Hua Xia Bank Co., Limited | 12.36% | $0.85 | 49.77% |
| BNP.DE | BNP Paribas S.A. | 12.28% | $10.07 | 51.11% |
| 0836.HK | China Resources Power Holdings Company Limited | 12.20% | $2.15 | 41.97% |
| BIS.AX | Bisalloy Steel Group Limited | 12.19% | $0.59 | 81.88% |
| KBS.BK | Khonburi Sugar Public Company Limited | 12.17% | $0.70 | 56.34% |
| 9300.SR | Alwaha REIT Fund | 12.14% | $1.18 | 71.67% |
| 2005.HK | SSY Group Limited | 12.13% | $0.35 | 50.50% |
| BGI-UN.TO | Brookfield Global Infrastructure Securities Income Fund | 12.09% | $0.96 | 46.13% |
| 2003.HK | VCREDIT Holdings Limited | 12.07% | $0.32 | 18.47% |
| 1713.HK | Sichuan Energy Investment Development Co., Ltd. | 12.02% | $0.29 | 41.35% |
| NSI.AS | NSI N.V. | 12.02% | $2.33 | 30.60% |
| RIO1.DE | Rio Tinto Group | 12.02% | $8.28 | 64.54% |
| IGL.AX | IVE Group Limited | 12.01% | $0.35 | 74.81% |
| 0G5B.L | Sto SE & Co. KGaA | 12.00% | $14.64 | 83.41% |
| CDU.LS | Conduril - Engenharia, S.A. | 12.00% | $1.80 | 69.00% |
| 2156.HK | C&D Property Management Group Co. Limited | 11.98% | $0.33 | 54.74% |
| 0057.HK | Chen Hsong Holdings Limited | 11.94% | $0.19 | 45.38% |
| BBSE3.SA | BB Seguridade Participações S.A. | 11.93% | $4.26 | 91.94% |
| SWUT.VI | SW Umwelttechnik Stoiser & Wolschner AG | 11.93% | $3.70 | 34.18% |
| 0Q76.L | CBo Territoria S.A. | 11.92% | $0.44 | 61.80% |
| ALCOF.PA | Cofidur S.A. | 11.92% | $34.80 | 38.87% |
| 0239.HK | Pak Fah Yeow International Limited | 11.87% | $0.28 | 52.60% |
| 2356.HK | Dah Sing Banking Group Limited | 11.87% | $1.29 | 41.19% |
| 3311.HK | China State Construction International Holdings Limited | 11.87% | $1.10 | 29.31% |
| ENGI.PA | Engie S.A. | 11.87% | $2.73 | 76.93% |
| SENA.BK | Sena Development Public Company Limited | 11.86% | $0.20 | 74.93% |
| 4348.SR | Alkhabeer REIT Fund | 11.85% | $0.66 | 98.08% |
| AWZ.SI | Multi-Chem Limited | 11.83% | $0.41 | 60.70% |
| 0331.HK | FSE Lifestyle Services Limited | 11.81% | $0.67 | 31.73% |
| SUL.AX | Super Retail Group Limited | 11.78% | $1.87 | 91.92% |
| 2877.HK | China Shineway Pharmaceutical Group Limited | 11.77% | $1.01 | 39.47% |
| DSWL | Deswell Industries, Inc. | 11.77% | $0.40 | 27.95% |
| 0855.HK | China Water Affairs Group Limited | 11.75% | $0.62 | 56.78% |
| 0659.HK | CTF Services Limited | 11.70% | $0.88 | 76.18% |
| DRA.AX | DRA Global Limited | 11.69% | $0.21 | 58.65% |
| GWA.AX | GWA Group Limited | 11.68% | $0.29 | 95.40% |
| 0968.HK | Xinyi Solar Holdings Limited | 11.67% | $0.36 | 70.18% |
| ENI-UN.TO | Energy Income Fund | 11.66% | $0.23 | 56.38% |
| TCF.AX | 360 Capital Mortgage REIT | 11.66% | $0.67 | 76.18% |
| 3316.HK | Binjiang Service Group Co. Ltd. | 11.65% | $2.76 | 69.09% |
| CC3.SI | StarHub Ltd | 11.65% | $0.13 | 81.69% |
| TFG-R.BK | Thaifoods Group Public Company Limited | 11.65% | $0.52 | 42.58% |