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 % ⇵ |
|---|---|---|---|---|
| 4588.KL | UMW Holdings Berhad | 3.46% | $0.17 | 22.64% |
| 600039.SS | Sichuan Road & Bridge Co.,Ltd | 3.46% | $0.34 | 38.73% |
| 6179.TWO | ATE Energy International Co., Ltd. | 3.46% | $1.01 | 61.93% |
| CCEC | Capital Clean Energy Carriers Corp. | 3.46% | $0.71 | 14.75% |
| PPGL.JK | PT Prima Globalindo Logistik Tbk | 3.46% | $6.54 | 59.35% |
| 4280.SR | Kingdom Holding Company | 3.45% | $0.27 | 61.01% |
| 4731.KL | Scientex Berhad | 3.45% | $0.12 | 35.19% |
| 600956.SS | China Suntien Green Energy Corporation Limited | 3.45% | $0.25 | 60.39% |
| 9310.T | Japan Transcity Corporation | 3.45% | $39.18 | 40.54% |
| A2B.AX | A2B Australia Limited | 3.45% | $0.05 | 10.73% |
| JUBILE.BK | Jubilee Enterprise Public Company Limited | 3.45% | $0.24 | 42.76% |
| OBS.DE | Orbis AG | 3.45% | $0.20 | 29.66% |
| SNGR.L | SNGN Romgaz S.A. | 3.45% | $0.35 | 45.29% |
| T.ME | IPJSC T-Technologies | 3.45% | $108.90 | 19.03% |
| 002546.SZ | Nanjing Xinlian Electronics Co., Ltd | 3.44% | $0.24 | 28.69% |
| 003010.KS | Haein Corporation | 3.44% | $184.30 | 18.44% |
| 1861.HK | Precious Dragon Technology Holdings Limited | 3.44% | $0.07 | 13.56% |
| 2M6.DE | Medtronic plc | 3.44% | $2.81 | 75.86% |
| 353810.KQ | EASY BIO,Inc. | 3.44% | $200.00 | 33.23% |
| 4523.T | Eisai Co., Ltd. | 3.44% | $160.17 | 91.46% |
| 8951.T | Nippon Building Fund Incorporation | 3.44% | $4,915.81 | 52.71% |
| OND.WA | Onde S.A. | 3.44% | $0.30 | 87.35% |
| 4540.T | Tsumura & Co. | 3.43% | $139.66 | 37.89% |
| 6764.TWO | Ace Edulink Co., Ltd. | 3.43% | $1.00 | 84.07% |
| 688366.SS | Shanghai Haohai Biological Technology Co., Ltd. | 3.43% | $1.51 | 89.50% |
| 9028.T | ZERO Co., Ltd. | 3.43% | $138.32 | 33.30% |
| MGLU3.SA | Magazine Luiza S.A. | 3.43% | $0.30 | 61.17% |
| 002555.SZ | 37 Interactive Entertainment Network Technology Group Co., Ltd. | 3.42% | $0.81 | 56.85% |
| 002993.SZ | Dongguan Aohai Technology Co., Ltd. | 3.42% | $1.50 | 79.56% |
| 2472.TW | Lelon Electronics Corp. | 3.42% | $4.02 | 55.54% |
| 3060.SR | Yanbu Cement Company | 3.42% | $0.50 | 71.47% |
| 3116.T | Toyota Boshoku Corporation | 3.42% | $85.98 | 81.58% |
| 4299.T | HIMACS, Ltd. | 3.42% | $44.95 | 43.10% |
| CGAS3.SA | Companhia de Gás de São Paulo - COMGÁS | 3.42% | $4.11 | 33.65% |
| HSN.AX | Hansen Technologies Limited | 3.42% | $0.18 | 57.93% |
| 2291.HK | LEPU ScienTech Medical Technology (Shanghai) Co., Ltd. | 3.41% | $0.56 | 38.72% |
| 3355.T | Kuriyama Holdings Corporation | 3.41% | $56.55 | 27.28% |
| 600638.SS | Shanghai New Huang Pu Industrial Group Co., Ltd. | 3.41% | $0.22 | 91.32% |
| OFSS.BO | Oracle Financial Services Software Limited | 3.41% | $263.67 | 97.03% |
| SVI.BK | SVI Public Company Limited | 3.41% | $0.25 | 62.32% |
| 2428.T | Wellnet Corporation | 3.40% | $22.01 | 38.29% |
| 600572.SS | Zhejiang CONBA Pharmaceutical Co.,Ltd. | 3.40% | $0.15 | 55.59% |
| 601216.SS | Inner Mongolia Junzheng Energy & Chemical Group Co.,Ltd. | 3.40% | $0.16 | 41.07% |
| 7447.T | Nagaileben Co., Ltd. | 3.40% | $61.11 | 73.38% |
| AHOG.DE | Koninklijke Ahold Delhaize N.V. | 3.40% | $1.19 | 51.79% |
| CRC-R.BK | Central Retail Corporation Public Company Limited | 3.40% | $0.61 | 52.01% |
| SSM.AX | Service Stream Limited | 3.40% | $0.08 | 53.67% |
| TGH | Textainer Group Holdings Limited | 3.40% | $1.70 | 34.66% |
| TRA.AX | Turners Automotive Group Limited | 3.40% | $0.24 | 39.34% |
| 0RD8.L | Xior Student Housing N.V. | 3.39% | $0.99 | 49.30% |