Definitive Analysis
| Stable Growth | $1,835,663.55 - $9,257,244.79 | $3,804,986.50 |
| Multi-Stage | $1,163,057.73 - $1,272,815.00 | $1,216,926.19 |
| Blended Fair Value | $2,510,956.34 | |
| Current Price | $451,500.00 | |
| Upside | 456.14% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 6.86% | 18.63% | 16,021.99 | 13,826.78 | 12,022.50 | 8,800.22 | 8,500.22 | 11,500.18 | 10,000.20 | 6,117.67 | 5,228.69 | 4,695.94 |
| YoY Growth | - | - | 15.88% | 15.01% | 36.62% | 3.53% | -26.09% | 15.00% | 63.46% | 17.00% | 11.35% | 61.80% |
| Dividend Yield | - | - | 4.48% | 4.53% | 5.84% | 4.02% | 4.47% | 7.47% | 3.24% | 2.26% | 1.95% | 1.59% |
| Net Income To Common (M) | 1,990,667.81 |
| (-) Cash Dividends Paid (M) | 809,299.28 |
| (=) Cash Retained (M) | 1,181,368.53 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 398,133.56 | 248,833.48 | 149,300.09 |
| Cash Retained (M) | 1,181,368.53 | 1,181,368.53 | 1,181,368.53 |
| (-) Cash Required (M) | -398,133.56 | -248,833.48 | -149,300.09 |
| (=) Excess Retained (M) | 783,234.97 | 932,535.06 | 1,032,068.45 |
| (/) Shares Outstanding (M) | 42.51 | 42.51 | 42.51 |
| (=) Excess Retained per Share | 18,424.72 | 21,936.84 | 24,278.25 |
| LTM Dividend per Share | 19,037.86 | 19,037.86 | 19,037.86 |
| (+) Excess Retained per Share | 18,424.72 | 21,936.84 | 24,278.25 |
| (=) Adjusted Dividend | 37,462.58 | 40,974.70 | 43,316.11 |
| WACC / Discount Rate | 7.00% | 7.00% | 7.00% |
| Growth Rate | 4.86% | 5.86% | 6.86% |
| Fair Value | $1,835,663.55 | $3,804,986.50 | $9,257,244.79 |
| Upside / Downside | 306.57% | 742.74% | 1,950.33% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,990,667.81 | 2,107,258.06 | 2,230,676.81 | 2,361,324.00 | 2,499,622.99 | 2,646,021.93 | 2,725,402.58 |
| Payout Ratio | 40.65% | 50.52% | 60.39% | 70.26% | 80.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 809,299.28 | 1,064,665.37 | 1,347,168.13 | 1,659,110.28 | 2,002,971.21 | 2,381,419.73 | 2,520,997.39 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.00% | 7.00% | 7.00% |
| Growth Rate | 4.86% | 5.86% | 6.86% |
| Year 1 PV (M) | 985,644.41 | 995,044.31 | 1,004,444.22 |
| Year 2 PV (M) | 1,154,612.00 | 1,176,739.65 | 1,199,077.32 |
| Year 3 PV (M) | 1,316,426.61 | 1,354,450.49 | 1,393,199.59 |
| Year 4 PV (M) | 1,471,306.79 | 1,528,241.11 | 1,586,812.03 |
| Year 5 PV (M) | 1,619,465.18 | 1,698,174.89 | 1,779,915.65 |
| PV of Terminal Value (M) | 42,894,129.06 | 44,978,881.71 | 47,143,916.73 |
| Equity Value (M) | 49,441,584.05 | 51,731,532.16 | 54,107,365.54 |
| Shares Outstanding (M) | 42.51 | 42.51 | 42.51 |
| Fair Value | $1,163,057.73 | $1,216,926.19 | $1,272,815.00 |
| Upside / Downside | 157.60% | 169.53% | 181.91% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 558.SI | UMS Holdings Limited | 3.60% | $0.05 | 88.87% |
| 601019.SS | Shandong Publishing&Media Co.,Ltd | 3.60% | $0.31 | 41.99% |
| 603233.SS | DaShenLin Pharmaceutical Group Co., Ltd. | 3.60% | $0.64 | 63.21% |
| 603658.SS | Autobio Diagnostics Co., Ltd. | 3.60% | $1.27 | 66.33% |
| 603661.SS | Henglin Home Furnishings Co.,Ltd | 3.60% | $1.15 | 57.55% |
| 6371.T | Tsubakimoto Chain Co. | 3.60% | $83.27 | 37.31% |
| FSMART.BK | Forth Smart Service Public Company Limited | 3.60% | $0.23 | 31.86% |
| KABE-B.ST | KABE Group AB (publ.) | 3.60% | $8.00 | 76.60% |
| SKLT.JK | PT Sekar Laut Tbk | 3.60% | $9.00 | 42.24% |
| TFMAMA.BK | Thai President Foods Public Company Limited | 3.60% | $6.93 | 57.58% |
| 002469.SZ | Shandong Sunway Chemical Group Co., Ltd. | 3.59% | $0.30 | 72.05% |
| 216050.KQ | Incross Co., Ltd. | 3.59% | $241.94 | 26.78% |
| 2845.TW | Far Eastern International Bank Ltd. | 3.59% | $0.46 | 54.51% |
| 6461.T | Nippon Piston Ring Co., Ltd. | 3.59% | $68.27 | 25.12% |
| 7751.T | Canon Inc. | 3.59% | $166.45 | 91.69% |
| E4C.DE | Ecotel Communication Ag | 3.59% | $0.42 | 82.27% |
| LHA.DE | Deutsche Lufthansa AG | 3.59% | $0.31 | 22.46% |
| NTB | The Bank of N.T. Butterfield & Son Limited | 3.59% | $1.78 | 33.40% |
| SVOA.BK | SVOA Public Company Limited | 3.59% | $0.05 | 21.40% |
| TRAC-B.ST | AB Traction | 3.59% | $9.00 | 82.36% |
| 0IX0.L | GL Events S.A. | 3.58% | $1.04 | 20.20% |
| 0QNG.L | Jungfraubahn Holding AG | 3.58% | $10.25 | 42.20% |
| 3231.T | Nomura Real Estate Holdings, Inc. | 3.58% | $34.64 | 40.45% |
| 4106.TW | Wellell Inc. | 3.58% | $0.80 | 58.20% |
| EIK.IC | Eik fasteignafélag hf. | 3.58% | $0.50 | 24.04% |
| 053690.KS | HanmiGlobal Co., Ltd. | 3.57% | $642.06 | 28.05% |
| 286940.KS | Lotte Innovate Co Ltd | 3.57% | $699.88 | 99.32% |
| 601158.SS | Chongqing Water Group Co.,Ltd. | 3.57% | $0.16 | 91.61% |
| ILC.SN | Inversiones La Construcción S.A. | 3.57% | $650.41 | 28.71% |
| 058850.KS | Ktcs Corporation | 3.56% | $100.09 | 15.29% |
| 1294.TWO | Hantech Bio-Technology Co., Ltd. | 3.56% | $2.81 | 66.03% |
| 3283.T | Nippon Prologis REIT, Inc. | 3.56% | $3,304.88 | 53.00% |
| 688121.SS | Shanghai Supezet Engineering Technology Corp., Ltd. | 3.56% | $0.39 | 73.41% |
| EMIRATESNBD.AE | Emirates NBD Bank PJSC | 3.56% | $1.02 | 28.25% |
| FLEXO.AT | Flexopack Société Anonyme Commercial and Industrial Plastics Company | 3.56% | $0.30 | 17.58% |
| 006040.KS | Dongwon Industries Co., Ltd. | 3.55% | $1,474.30 | 49.91% |
| 2715.T | Elematec Corporation | 3.55% | $84.99 | 64.74% |
| 3700.HK | Inkeverse Group Limited | 3.55% | $0.04 | 11.74% |
| 600958.SS | Orient Securities Company Limited | 3.55% | $0.39 | 63.25% |
| 7955.T | Cleanup Corporation | 3.55% | $31.00 | 45.30% |
| ISAT.JK | PT Indosat Ooredoo Hutchison Tbk | 3.55% | $83.79 | 58.49% |
| PBSA.JK | PT Paramita Bangun Sarana Tbk | 3.55% | $55.00 | 71.03% |
| 004800.KS | Hyosung Corporation | 3.54% | $3,986.89 | 20.54% |
| 6414.TW | Ennoconn Corporation | 3.54% | $10.13 | 52.07% |
| WIHL.ST | Wihlborgs Fastigheter AB (publ) | 3.54% | $3.20 | 44.13% |
| 002081.SZ | Suzhou Gold Mantis Construction Decoration Co., Ltd. | 3.53% | $0.12 | 70.03% |
| 0RHV.L | Investis Holding S.A. | 3.53% | $5.10 | 18.83% |
| 2760.T | Tokyo Electron Device Limited | 3.53% | $119.86 | 46.59% |
| 5515.TW | Chien Kuo Construction Co., Ltd. | 3.53% | $1.27 | 51.00% |
| 600603.SS | Guanghui Logistics Co.Ltd | 3.53% | $0.22 | 63.76% |