DDM Analysis: 8966.T

Valuation Snapshot

Stable Growth	$1,096,741.33 - $2,535,443.11	$2,376,081.51
Multi-Stage	$382,003.67 - $417,770.38	$399,559.79
Blended Fair Value	$1,387,820.65
Current Price	$127,700.00
Upside	986.78%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	9.65%	10.06%	6,552.38	5,975.23	5,352.25	4,672.15	4,372.14	4,134.33	3,771.32	3,376.10	2,959.54	2,694.30
YoY Growth	-	-	9.66%	11.64%	14.56%	6.86%	5.75%	9.63%	11.71%	14.08%	9.84%	7.28%
Dividend Yield	-	-	5.59%	4.41%	3.32%	3.10%	3.74%	2.96%	3.24%	3.61%	3.77%	3.11%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	14,944.85
(-) Cash Dividends Paid (M)	9,302.48
(=) Cash Retained (M)	5,642.37

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,988.97	1,868.11	1,120.86
Cash Retained (M)	5,642.37	5,642.37	5,642.37
(-) Cash Required (M)	-2,988.97	-1,868.11	-1,120.86
(=) Excess Retained (M)	2,653.40	3,774.26	4,521.50
(/) Shares Outstanding (M)	1.17	1.17	1.17
(=) Excess Retained per Share	2,263.52	3,219.69	3,857.14
LTM Dividend per Share	7,935.62	7,935.62	7,935.62
(+) Excess Retained per Share	2,263.52	3,219.69	3,857.14
(=) Adjusted Dividend	10,199.14	11,155.31	11,792.76
WACC / Discount Rate	6.48%	6.48%	6.48%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$1,096,741.33	$2,376,081.51	$2,535,443.11
Upside / Downside	758.84%	1,760.67%	1,885.47%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	14,944.85	15,916.27	16,950.82	18,052.63	19,226.05	20,475.74	21,090.01
Payout Ratio	62.25%	67.80%	73.35%	78.90%	84.45%	90.00%	92.50%
Projected Dividends (M)	9,302.48	10,790.64	12,432.96	14,243.19	16,236.22	18,428.17	19,508.26

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.48%	6.48%	6.48%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	10,038.70	10,133.86	10,229.01
Year 2 PV (M)	10,760.57	10,965.53	11,172.42
Year 3 PV (M)	11,468.28	11,797.49	12,132.95
Year 4 PV (M)	12,162.04	12,629.75	13,110.83
Year 5 PV (M)	12,842.03	13,462.31	14,106.32
PV of Terminal Value (M)	390,529.78	409,392.52	428,977.17
Equity Value (M)	447,801.41	468,381.46	489,728.71
Shares Outstanding (M)	1.17	1.17	1.17
Fair Value	$382,003.67	$399,559.79	$417,770.38
Upside / Downside	199.14%	212.89%	227.15%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 40 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
EMTK.JK	PT Elang Mahkota Teknologi Tbk	3.98%	$43.78	48.47%
HOLN.SW	Holcim Ltd	3.98%	$3.10	11.12%
TQ5.SI	Frasers Property Limited	3.98%	$0.05	60.69%
007860.KS	Seoyon Co., Ltd.	3.97%	$381.92	8.19%
3217.TWO	Argosy Research Inc.	3.97%	$6.40	54.14%
5434.TW	Topco Scientific Co.,Ltd.	3.97%	$11.76	59.09%
ALTXC.PA	TXCOM Group	3.97%	$0.30	35.01%
MND.AX	Monadelphous Group Limited	3.97%	$1.05	72.16%
MXI.AX	MaxiPARTS Limited	3.97%	$0.09	46.30%
027410.KS	BGF Co., Ltd.	3.96%	$152.83	25.29%
CNT.BK	Christiani & Nielsen (Thai) Public Company Limited	3.96%	$0.04	56.47%
UCID.JK	PT Uni-Charm Indonesia Tbk	3.96%	$16.86	78.76%
002758.SZ	ZJAMP Group Co., Ltd.	3.95%	$0.40	46.30%
4065.KL	PPB Group Berhad	3.95%	$0.42	72.75%
600585.SS	Anhui Conch Cement Company Limited	3.95%	$0.86	51.83%
8464.TW	Nien Made Enterprise Co., Ltd.	3.95%	$14.49	64.65%
BRFS3.SA	BRF S.A.	3.95%	$0.71	31.92%
F34.SI	Wilmar International Limited	3.95%	$0.12	63.66%
000848.SZ	Cheng De Lolo Company Limited	3.94%	$0.33	55.15%
6412.T	Heiwa Corporation	3.94%	$80.00	63.34%
DSFIR.AS	DSM-Firmenich AG	3.94%	$2.71	99.44%
NDT.MI	Neodecortech S.p.A.	3.94%	$0.15	28.43%
TCSG.ME	TCS Group Holding PLC	3.94%	$129.27	21.76%
001720.KS	Shinyoung Securities Co., Ltd.	3.93%	$5,219.58	32.99%
0UKH.L	Bank of Montreal	3.93%	$7.04	57.77%
282330.KS	BGF retail Co. Ltd.	3.93%	$4,100.00	37.49%
4953.TWO	WITS Corp.	3.93%	$4.91	84.65%
601528.SS	Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd	3.93%	$0.22	21.93%
601789.SS	Ningbo Construction Co., Ltd.	3.93%	$0.20	78.65%
EMA	Emera Incorporated	3.93%	$1.93	49.45%
TSPC.JK	PT Tempo Scan Pacific Tbk	3.93%	$111.90	33.61%
TTALO.HE	Terveystalo Oyj	3.93%	$0.38	55.32%
003012.SZ	Guangdong Dongpeng Holdings Co., Ltd.	3.92%	$0.26	78.10%
300181.SZ	Zhejiang Jolly Pharmaceutical Co.,LTD	3.92%	$0.63	73.60%
6491.TW	Pegavision Corporation	3.92%	$11.02	53.82%
82800.HK	Tracker Fund of Hong Kong	3.92%	$0.93	12.85%
DR0.DE	Deutsche Rohstoff AG	3.92%	$1.96	26.92%
SIRIP.BK	Siri Prime Office Property Fund	3.92%	$0.28	44.51%
SJR	Shaw Communications Inc.	3.92%	$1.18	80.43%
1437.TW	GTM Holdings Corporation	3.91%	$1.35	64.33%
234080.KS	JW Lifescience Corporation	3.91%	$501.22	16.27%
3693.TWO	AIC Inc.	3.91%	$10.92	61.94%
4863.KL	Telekom Malaysia Berhad	3.91%	$0.31	59.49%
PBP.AX	Probiotec Limited	3.91%	$0.12	41.70%
SUZB3.SA	Suzano S.A.	3.91%	$2.03	38.32%
025540.KS	Korea Electric Terminal Co., Ltd.	3.90%	$2,586.58	23.65%
AZ2.DE	Andritz AG	3.90%	$2.60	55.55%
EUX.F	Euwax AG	3.90%	$1.85	82.61%
TPIPP-R.BK	TPI Polene Power Public Company Limited	3.90%	$0.07	20.67%
0R9H.L	Banca Sistema S.p.A.	3.89%	$0.07	15.44%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

Heiwa Real Estate REIT, Inc. (8966.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener