Definitive Analysis
Loading...
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Top Bright Holding Co., Ltd. (8499.TW)

Company Dividend Discount ModelIndustry: Hardware, Equipment & PartsSector: Technology

Valuation Snapshot

Stable Growth$104.59 - $162.06$131.21
Multi-Stage$122.68 - $134.58$128.51
Blended Fair Value$129.86
Current Price$249.00
Upside-47.85%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-8.34%5.86%4.012.5110.0310.036.206.206.263.8915.813.12
YoY Growth--60.00%-75.00%0.02%61.74%0.00%-0.90%60.71%-75.38%407.23%37.28%
Dividend Yield--2.61%2.17%7.83%6.39%3.06%6.82%4.31%3.11%8.01%1.58%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)445.77
(-) Cash Dividends Paid (M)1.11
(=) Cash Retained (M)444.66
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)89.1555.7233.43
Cash Retained (M)444.66444.66444.66
(-) Cash Required (M)-89.15-55.72-33.43
(=) Excess Retained (M)355.50388.94411.23
(/) Shares Outstanding (M)41.3641.3641.36
(=) Excess Retained per Share8.609.409.94
LTM Dividend per Share0.030.030.03
(+) Excess Retained per Share8.609.409.94
(=) Adjusted Dividend8.629.439.97
WACC / Discount Rate9.86%9.86%9.86%
Growth Rate1.49%2.49%3.49%
Fair Value$104.59$131.21$162.06
Upside / Downside-57.99%-47.31%-34.92%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)445.77456.88468.26479.93491.89504.15519.27
Payout Ratio0.25%18.20%36.15%54.10%72.05%90.00%92.50%
Projected Dividends (M)1.1183.15169.28259.64354.41453.73480.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.86%9.86%9.86%
Growth Rate1.49%2.49%3.49%
Year 1 PV (M)74.9575.6976.43
Year 2 PV (M)137.53140.26143.01
Year 3 PV (M)190.15195.83201.62
Year 4 PV (M)233.96243.31252.95
Year 5 PV (M)269.99283.55297.66
PV of Terminal Value (M)4,167.314,376.704,594.42
Equity Value (M)5,073.895,315.345,566.09
Shares Outstanding (M)41.3641.3641.36
Fair Value$122.68$128.51$134.58
Upside / Downside-50.73%-48.39%-45.95%

High-Yield Dividend Screener

« Prev Page 4 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
VKQInvesco Municipal Trust8.62%$0.8469.07%
ARCCAres Capital Corporation8.61%$1.7691.56%
TPVGTriplePoint Venture Growth BDC Corp.8.52%$0.5767.26%
C-PJCitigroup Inc.8.49%$2.1326.99%
RVTRoyce Value Trust Inc.8.42%$1.3639.40%
OGNOrganon & Co.8.37%$0.6131.54%
MITTAG Mortgage Investment Trust, Inc.8.12%$0.7043.47%
CAGConagra Brands, Inc.8.06%$1.3978.70%
NOGNorthern Oil and Gas, Inc.8.02%$1.7794.64%
PAAPlains All American Pipeline, L.P.8.00%$1.4690.71%
TSLXSixth Street Specialty Lending, Inc.8.00%$1.7385.26%
ACCOACCO Brands Corporation7.90%$0.2967.00%
ETDEthan Allen Interiors Inc.7.90%$1.8197.75%
CQPCheniere Energy Partners, L.P.7.82%$4.2388.03%
UNMAUnum Group 6.250% JR NT587.69%$1.7933.52%
WRB-PHW.R. Berkley Corporation 4.125%7.68%$1.2726.69%
JHSJohn Hancock Income Securities Trust7.65%$0.8994.90%
NIDNuveen Intermediate Duration Municipal Term Fund7.59%$1.0284.59%
HWCPZHancock Whitney Corporation - 67.58%$1.7731.35%
WRB-PGW.R. Berkley Corporation 4.25%7.54%$1.2726.69%
NMTNuveen Massachusetts Quality Municipal Income Fund7.48%$0.8580.62%
LOANManhattan Bridge Capital, Inc.7.45%$0.3574.53%
OPALOPAL Fuels Inc.7.43%$0.1846.94%
ZIONLZions Bancorporation N.A. - 6.97.42%$1.8632.04%
GMTAGATX Corporation SR NT 20667.41%$1.8621.29%
IIMInvesco Value Municipal Income Trust7.41%$0.9264.33%
JMMNuveen Multi-Market Income Fund7.28%$0.4461.06%
BKEThe Buckle, Inc.7.26%$3.9196.21%
MHIPioneer Municipal High Income Fund, Inc.7.19%$0.6413.70%
ORIOld Republic International Corporation7.19%$3.1193.13%
PMFPIMCO Municipal Income Fund7.07%$0.5992.59%
RYNRayonier Inc.7.04%$1.5230.67%
DRQDril-Quip, Inc.7.02%$1.0850.37%
TRINITrinity Capital Inc. 7.875% Notes Due 20297.02%$1.7883.48%
C-PNCitigroup Capital XIII TR PFD SECS7.01%$2.1326.99%
VPVInvesco Pennsylvania Value Municipal Income Trust6.98%$0.7360.22%
VCVInvesco California Value Municipal Income Trust6.97%$0.7860.58%
EOTEaton Vance National Municipal Opportunities Trust6.96%$1.1869.84%
FLATXFidelity Latin America Fund6.92%$1.1539.63%
EGYVAALCO Energy, Inc.6.91%$0.2592.67%
NOMNuveen Missouri Quality Municipal Income Fund6.91%$0.8278.81%
UBCPUnited Bancorp, Inc.6.90%$0.9996.30%
TBCAT&T Inc. 5.625% Global Notes d6.89%$1.7255.65%
GTNGray Media, Inc.6.87%$0.3334.04%
HEPHolly Energy Partners, L.P.6.86%$1.4074.08%
AFGAmerican Financial Group, Inc.6.85%$9.2396.49%
BANFPBFC Capital Trust II PFD TR 7.20%6.85%$1.8025.72%
CFG-PDCitizens Financial Group, Inc.6.83%$1.7143.60%
RCIIRent-A-Center, Inc.6.81%$1.8279.98%
SPHSuburban Propane Partners, L.P.6.81%$1.2778.56%