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 46 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
ATCOL	Atlas Corp.	3.53%	$0.89	30.47%
AWC-R.BK	Asset World Corp Public Company Limited	3.53%	$0.07	37.62%
CCRO3.SA	CCR S.A.	3.53%	$0.48	66.57%
HMU.DE	HMS Bergbau AG	3.53%	$1.69	29.89%
RAUTE.HE	Raute Oyj	3.53%	$0.52	26.97%
RWE.DE	RWE AG	3.53%	$1.66	46.76%
SNL.AX	Supply Network Limited	3.53%	$1.13	67.28%
0NHS.L	Nutrien Ltd.	3.52%	$2.18	58.76%
CELL.MI	Cellularline S.p.A.	3.52%	$0.09	34.70%
INFREA.ST	Infrea AB	3.52%	$0.50	67.57%
ISSP.JK	PT Steel Pipe Industry of Indonesia Tbk	3.52%	$15.00	19.85%
MGA	Magna International Inc.	3.52%	$1.92	52.47%
PARP.PA	Groupe Partouche S.A.	3.52%	$0.64	38.61%
PKI.TO	Parkland Corporation	3.52%	$1.40	73.81%
SMU.SN	SMU S.A.	3.52%	$5.49	46.99%
161390.KS	Hankook Tire & Technology Co., Ltd.	3.51%	$2,000.00	25.86%
300360.SZ	Hangzhou Sunrise Technology Co., Ltd.	3.51%	$0.61	52.03%
5106.KL	Axis Real Estate Investment Trust	3.51%	$0.07	56.99%
601128.SS	Jiangsu Changshu Rural Commercial Bank Co., Ltd.	3.51%	$0.25	19.56%
INTP.JK	PT Indocement Tunggal Prakarsa Tbk	3.51%	$259.81	43.04%
RATO-A.ST	Ratos AB (publ)	3.51%	$1.35	12.15%
002887.SZ	Tianjin LVYIN Landscape and Ecology Construction Co., Ltd	3.50%	$0.33	84.50%
603062.SS	MEGA P&C Advanced Materials (Shanghai) Company Limited	3.50%	$1.66	74.27%
CMCL	Caledonia Mining Corporation Plc	3.50%	$0.92	35.87%
DLO	DLocal Limited	3.50%	$0.49	87.74%
LAZ	Lazard Ltd	3.50%	$1.74	67.48%
TWL.MI	TraWell Co S.p.A.	3.50%	$0.21	28.69%
WJP.SI	VICOM Ltd	3.50%	$0.06	66.95%
005610.KS	SPC Samlip Co., Ltd.	3.49%	$1,803.39	45.19%
0RFL.L	VAT Group AG	3.49%	$12.50	88.50%
2030.HK	Cabbeen Fashion Limited	3.49%	$0.05	63.92%
5206.TWO	Kunyue Development Co., Ltd.	3.49%	$1.18	21.91%
5246.KL	Westports Holdings Berhad	3.49%	$0.20	71.36%
5989.T	H-One Co.,Ltd.	3.49%	$49.44	14.49%
ACO-X.TO	ATCO Ltd.	3.49%	$1.98	50.80%
CNI	Canadian National Railway Company	3.49%	$3.50	50.64%
PEAB3.SA	Companhia de Participações Aliança da Bahia	3.49%	$1.36	78.68%
026960.KS	Dong Suh Companies Inc.	3.48%	$905.33	62.72%
055550.KS	Shinhan Financial Group Co., Ltd.	3.48%	$2,668.74	26.55%
0QK5.L	INFICON Holding AG	3.48%	$3.44	43.54%
6722.TWO	Whetron Electronics Co.,Ltd.	3.48%	$1.99	24.71%
HOLM-A.ST	Holmen AB (publ)	3.48%	$12.23	66.11%
002206.SZ	Zhejiang Hailide New Material Co.,Ltd	3.47%	$0.20	43.30%
3004.SR	Northern Region Cement Company	3.47%	$0.25	79.89%
4129.TWO	United Orthopedic Corporation	3.47%	$3.80	69.70%
600133.SS	Wuhan East Lake High Technology Group Co., Ltd.	3.47%	$0.32	87.27%
601995.SS	China International Capital Corporation Limited	3.47%	$1.21	62.35%
6471.T	NSK Ltd.	3.47%	$33.82	92.34%
CSED3.SA	Cruzeiro do Sul Educacional S.A.	3.47%	$0.21	30.49%
GPRA.JK	PT Perdana Gapuraprima Tbk	3.47%	$5.00	18.12%

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