Definitive Analysis
| Stable Growth | $65,511.13 - $160,490.57 | $150,403.16 |
| Multi-Stage | $23,579.76 - $25,796.15 | $24,667.64 |
| Blended Fair Value | $87,535.40 | |
| Current Price | $5,775.00 | |
| Upside | 1,415.76% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 19.71% | 9.16% | 518.68 | 649.57 | 281.82 | 131.91 | 183.90 | 211.00 | 189.88 | 167.92 | 167.89 | 215.86 |
| YoY Growth | - | - | -20.15% | 130.49% | 113.65% | -28.27% | -12.84% | 11.12% | 13.08% | 0.01% | -22.22% | 0.00% |
| Dividend Yield | - | - | 10.54% | 12.49% | 4.70% | 2.01% | 3.49% | 5.41% | 2.61% | 2.30% | 1.95% | 2.98% |
| Net Income To Common (M) | 32,670,000.00 |
| (-) Cash Dividends Paid (M) | 16,426,000.00 |
| (=) Cash Retained (M) | 16,244,000.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 6,534,000.00 | 4,083,750.00 | 2,450,250.00 |
| Cash Retained (M) | 16,244,000.00 | 16,244,000.00 | 16,244,000.00 |
| (-) Cash Required (M) | -6,534,000.00 | -4,083,750.00 | -2,450,250.00 |
| (=) Excess Retained (M) | 9,710,000.00 | 12,160,250.00 | 13,793,750.00 |
| (/) Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| (=) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| LTM Dividend per Share | 405.74 | 405.74 | 405.74 |
| (+) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| (=) Adjusted Dividend | 645.59 | 706.12 | 746.47 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $65,511.13 | $150,403.16 | $160,490.57 |
| Upside / Downside | 1,034.39% | 2,504.38% | 2,679.06% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 32,670,000.00 | 34,793,550.00 | 37,055,130.75 | 39,463,714.25 | 42,028,855.67 | 44,760,731.29 | 46,103,553.23 |
| Payout Ratio | 50.28% | 58.22% | 66.17% | 74.11% | 82.06% | 90.00% | 92.50% |
| Projected Dividends (M) | 16,426,000.00 | 20,257,791.00 | 24,518,314.98 | 29,247,117.91 | 34,487,075.34 | 40,284,658.16 | 42,645,786.74 |
| 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) | 18,835,778.70 | 19,014,316.88 | 19,192,855.07 |
| Year 2 PV (M) | 21,196,961.26 | 21,600,703.83 | 22,008,255.30 |
| Year 3 PV (M) | 23,510,266.66 | 24,185,161.93 | 24,872,851.04 |
| Year 4 PV (M) | 25,776,404.47 | 26,767,692.25 | 27,787,300.42 |
| Year 5 PV (M) | 27,996,074.98 | 29,348,295.87 | 30,752,269.43 |
| PV of Terminal Value (M) | 837,279,527.47 | 877,720,441.72 | 919,709,124.95 |
| Equity Value (M) | 954,595,013.53 | 998,636,612.47 | 1,044,322,656.20 |
| Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| Fair Value | $23,579.76 | $24,667.64 | $25,796.15 |
| Upside / Downside | 308.31% | 327.15% | 346.69% |
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|---|---|---|---|---|
| 9541.SR | Academy Of Learning Company | 3.74% | $0.43 | 78.32% |
| BBCA.JK | PT Bank Central Asia Tbk | 3.74% | $300.05 | 64.91% |
| BKGI.BK | Bangkok Genomics Innovation Public Company Limited | 3.74% | $0.05 | 88.71% |
| DAC | Danaos Corporation | 3.74% | $3.56 | 14.02% |
| JKON.JK | PT Jaya Konstruksi Manggala Pratama Tbk | 3.74% | $3.25 | 45.42% |
| MDKI.JK | PT Emdeki Utama Tbk | 3.74% | $8.00 | 62.54% |
| NORCO.OL | Norconsult ASA | 3.74% | $1.66 | 72.73% |
| SLCE3.SA | SLC Agrícola S.A. | 3.74% | $0.55 | 41.84% |
| 3948.HK | Inner Mongolia Yitai Coal Co., Ltd. | 3.73% | $0.65 | 24.32% |
| IDPR.JK | PT Indonesia Pondasi Raya Tbk | 3.73% | $10.00 | 75.77% |
| KIMBERA.MX | Kimberly-Clark de México, S. A. B. de C. V. | 3.73% | $1.43 | 57.51% |
| PGMN3.SA | Empreendimentos Pague Menos S.A. | 3.73% | $0.23 | 74.59% |
| QIBK.QA | Qatar Islamic Bank (Q.P.S.C.) | 3.73% | $0.89 | 44.73% |
| 002367.SZ | Canny Elevator Co., Ltd. | 3.72% | $0.30 | 60.41% |
| 600300.SS | V V Food & Beverage Co.,Ltd | 3.72% | $0.13 | 51.92% |
| 603899.SS | Shanghai M&G Stationery Inc. | 3.72% | $1.01 | 69.72% |
| RHC.AX | Ramsay Health Care Limited | 3.72% | $1.29 | 32.49% |
| 000999.SZ | China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. | 3.71% | $1.06 | 63.26% |
| 214180.KQ | Hecto Innovation Co., Ltd. | 3.71% | $602.87 | 23.75% |
| 603948.SS | Zhejiang Jianye Chemical Co., Ltd. | 3.71% | $1.01 | 75.31% |
| 6089.T | Will Group, Inc. | 3.71% | $44.42 | 74.52% |
| QNNS.QA | Qatar Navigation Q.P.S.C. | 3.71% | $0.40 | 38.98% |
| 016610.KS | DB Securities Co., Ltd. | 3.70% | $404.34 | 30.24% |
| 2471.T | S-Pool, Inc. | 3.70% | $10.10 | 43.62% |
| 3430.TWO | Chitec Technology Co., Ltd. | 3.70% | $2.50 | 75.20% |
| 4560.TW | Strong H Machinery Technology (Cayman) Incorporation | 3.70% | $1.20 | 42.07% |
| 5347.KL | Tenaga Nasional Berhad | 3.70% | $0.51 | 62.35% |
| LOOMIS.ST | Loomis AB (publ) | 3.70% | $14.10 | 53.46% |
| MIDW-A.ST | Midway Holding AB (publ) | 3.70% | $0.91 | 65.00% |
| PNDORA.CO | Pandora A/S | 3.70% | $25.72 | 37.06% |
| SPVI.BK | S P V I Public Company Limited | 3.70% | $0.08 | 37.67% |
| 3401.T | Teijin Limited | 3.69% | $49.97 | 35.81% |
| BZU.MI | Buzzi Unicem S.p.A. | 3.69% | $1.90 | 18.48% |
| CWP.AX | Cedar Woods Properties Limited | 3.69% | $0.31 | 15.67% |
| CX.ST | CombinedX AB (publ) | 3.69% | $1.37 | 55.29% |
| REH.AX | Reece Limited | 3.69% | $0.49 | 43.22% |
| 000783.SZ | Changjiang Securities Company Limited | 3.68% | $0.30 | 43.98% |
| 014820.KS | Dongwon Systems Corporation | 3.68% | $916.77 | 45.73% |
| 2245.HK | Lygend Resources & Technology Co., Ltd. | 3.68% | $0.91 | 36.29% |
| 5DD.SI | Micro-Mechanics (Holdings) Ltd. | 3.68% | $0.06 | 66.85% |
| 600598.SS | Heilongjiang Agriculture Company Limited | 3.68% | $0.55 | 89.21% |
| 601156.SS | Eastern Air Logistics Co., Ltd. | 3.68% | $0.68 | 41.00% |
| NICL.JK | PT PAM Mineral Tbk | 3.68% | $51.00 | 99.38% |
| PNBN.JK | P.T. Bank Pan Indonesia Tbk | 3.68% | $42.00 | 37.86% |
| 3617.TW | Cyber Power Systems, Inc. | 3.67% | $7.64 | 45.54% |
| 5296.KL | Mr D.I.Y. Group (M) Berhad | 3.67% | $0.06 | 87.61% |
| 600535.SS | Tasly Pharmaceutical Group Co., Ltd | 3.67% | $0.55 | 75.36% |
| 8424.T | Fuyo General Lease Co., Ltd. | 3.67% | $157.51 | 52.44% |
| 9937.TW | National Petroleum Co., Ltd. | 3.67% | $2.10 | 88.32% |
| KEMIRA.HE | Kemira Oyj | 3.67% | $0.72 | 49.87% |