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 % ⇵ |
|---|---|---|---|---|
| 3269.T | Advance Residence Investment Corporation | 3.39% | $5,804.05 | 52.10% |
| CTZ.V | NamSys Inc. | 3.39% | $0.05 | 56.26% |
| FILTRA.BO | Filtra Consultants and Engineers Limited | 3.39% | $2.44 | 84.66% |
| INWI.ST | Inwido AB (publ) | 3.39% | $5.48 | 60.02% |
| 000422.SZ | Hubei Yihua Chemical Industry Co., Ltd. | 3.38% | $0.48 | 72.32% |
| 002318.SZ | Zhejiang Jiuli Hi-Tech Metals Co., Ltd. | 3.38% | $0.98 | 54.31% |
| 002533.SZ | Gold cup Electric Apparatus Co.,Ltd. | 3.38% | $0.42 | 50.59% |
| 003490.KS | Korean Air Lines Co., Ltd. | 3.38% | $750.26 | 29.70% |
| 600578.SS | Beijing Jingneng Power Co., Ltd. | 3.38% | $0.17 | 33.20% |
| 601811.SS | Xinhua Winshare Publishing and Media Co., Ltd. | 3.38% | $0.45 | 34.30% |
| 7270.T | Subaru Corporation | 3.38% | $114.78 | 27.17% |
| JHG | Janus Henderson Group plc | 3.38% | $1.61 | 46.72% |
| 002714.SZ | Muyuan Foods Co., Ltd. | 3.37% | $1.70 | 41.84% |
| 019210.KQ | YG-1 Co., Ltd. | 3.37% | $174.88 | 33.83% |
| 1954.T | Nippon Koei Co., Ltd. | 3.37% | $126.04 | 37.37% |
| 7TEC.BO | Saven Technologies Limited | 3.37% | $1.50 | 48.59% |
| 8252.T | Marui Group Co., Ltd. | 3.37% | $108.41 | 66.71% |
| 9739.T | NSW Inc. | 3.37% | $85.10 | 35.17% |
| 0JMU.L | technotrans SE | 3.36% | $1.15 | 52.64% |
| 4321.SR | Arabian Centres Company | 3.36% | $0.64 | 24.31% |
| 600141.SS | Hubei Xingfa Chemicals Group Co., Ltd. | 3.36% | $1.16 | 83.90% |
| 601825.SS | Shanghai Rural Commercial Bank Co., Ltd. | 3.36% | $0.31 | 24.33% |
| KC4.DE | KONE Oyj | 3.36% | $1.80 | 95.42% |
| OTEX | Open Text Corporation | 3.36% | $1.07 | 55.28% |
| 294870.KS | HDC Hyundai Development Company | 3.35% | $700.00 | 23.41% |
| 4212.T | Sekisui Jushi Corporation | 3.35% | $71.29 | 59.28% |
| B61.SI | Bukit Sembawang Estates Limited | 3.35% | $0.16 | 36.24% |
| CAMB.BR | Campine N.V. | 3.35% | $7.63 | 18.23% |
| ELIS.PA | Elis S.A. | 3.35% | $0.80 | 33.62% |
| KREATE.HE | Kreate Group Oyj | 3.35% | $0.43 | 79.17% |
| M12.DE | M1 Kliniken AG | 3.35% | $0.61 | 32.73% |
| XGR2.DE | Compass Group PLC | 3.35% | $0.90 | 61.67% |
| 004430.KS | Songwon Industrial Co., Ltd. | 3.34% | $301.24 | 33.59% |
| 0N66.L | ATOSS Software AG | 3.34% | $3.82 | 80.44% |
| 6219.TWO | Full Wang International Development Co., Ltd. | 3.34% | $0.67 | 77.89% |
| 9537.SR | Amwaj International Company | 3.34% | $1.00 | 94.38% |
| AMATAV.BK | Amata VN Public Company Limited | 3.34% | $0.06 | 21.41% |
| EOAN.DE | E.on Se | 3.34% | $0.55 | 47.88% |
| 030190.KQ | NICE Information Service Co., Ltd. | 3.33% | $331.95 | 38.71% |
| 089470.KS | HDC Hyundai Engineering Plastics Co., Ltd. | 3.33% | $140.01 | 11.49% |
| 2373.HK | Beauty Farm Medical and Health Industry Inc. | 3.33% | $0.88 | 41.42% |
| 600258.SS | BTG Hotels (Group) Co., Ltd. | 3.33% | $0.56 | 74.23% |
| 601518.SS | Jilin Expressway Co., Ltd. | 3.33% | $0.09 | 32.60% |
| 6584.T | Sanoh Industrial Co., Ltd. | 3.33% | $28.57 | 39.95% |
| 6843.TWO | JDV Control Valves Co., Ltd. | 3.33% | $1.90 | 85.01% |
| ARASE.IS | Dogu Aras Enerji Yatirimlari AS | 3.33% | $2.38 | 41.72% |
| AZA.ST | Avanza Bank Holding AB (publ) | 3.33% | $11.70 | 70.53% |
| BAY-R.BK | Bank of Ayudhya Public Company Limited | 3.33% | $0.87 | 20.61% |
| SL.MI | Sanlorenzo S.p.A. | 3.33% | $1.01 | 33.16% |
| STNG | Scorpio Tankers Inc. | 3.33% | $1.65 | 28.37% |