Definitive Analysis
| Stable Growth | $151,893.93 - $215,812.58 | $183,379.46 |
| Multi-Stage | $232,094.56 - $254,773.38 | $243,215.15 |
| Blended Fair Value | $213,297.30 | |
| Current Price | $366,000.00 | |
| Upside | -41.72% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | -37.66% | 14.09 | 42.31 | 38.31 | 51.14 | 125.48 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | -66.69% | 10.44% | -25.08% | -59.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -100.00% |
| Dividend Yield | - | - | 0.01% | 0.04% | 0.05% | 0.06% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 1,684,653.36 |
| (-) Cash Dividends Paid (M) | 433,974.82 |
| (=) Cash Retained (M) | 1,250,678.55 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 336,930.67 | 210,581.67 | 126,349.00 |
| Cash Retained (M) | 1,250,678.55 | 1,250,678.55 | 1,250,678.55 |
| (-) Cash Required (M) | -336,930.67 | -210,581.67 | -126,349.00 |
| (=) Excess Retained (M) | 913,747.87 | 1,040,096.87 | 1,124,329.54 |
| (/) Shares Outstanding (M) | 73.73 | 73.73 | 73.73 |
| (=) Excess Retained per Share | 12,392.36 | 14,105.93 | 15,248.30 |
| LTM Dividend per Share | 5,885.62 | 5,885.62 | 5,885.62 |
| (+) Excess Retained per Share | 12,392.36 | 14,105.93 | 15,248.30 |
| (=) Adjusted Dividend | 18,277.99 | 19,991.55 | 21,133.92 |
| WACC / Discount Rate | 9.79% | 9.79% | 9.79% |
| Growth Rate | -2.00% | -1.00% | 0.00% |
| Fair Value | $151,893.93 | $183,379.46 | $215,812.58 |
| Upside / Downside | -58.50% | -49.90% | -41.03% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,684,653.36 | 1,667,806.83 | 1,651,128.76 | 1,634,617.47 | 1,618,271.30 | 1,602,088.58 | 1,650,151.24 |
| Payout Ratio | 25.76% | 38.61% | 51.46% | 64.30% | 77.15% | 90.00% | 92.50% |
| Projected Dividends (M) | 433,974.82 | 643,913.28 | 849,609.58 | 1,051,127.57 | 1,248,530.23 | 1,441,879.73 | 1,526,389.90 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.79% | 9.79% | 9.79% |
| Growth Rate | -2.00% | -1.00% | 0.00% |
| Year 1 PV (M) | 580,556.81 | 586,480.86 | 592,404.91 |
| Year 2 PV (M) | 690,643.74 | 704,810.42 | 719,120.93 |
| Year 3 PV (M) | 770,384.33 | 794,208.98 | 818,519.84 |
| Year 4 PV (M) | 825,027.48 | 859,221.01 | 894,466.56 |
| Year 5 PV (M) | 859,044.62 | 903,777.07 | 950,353.86 |
| PV of Terminal Value (M) | 13,387,777.12 | 14,084,909.73 | 14,810,785.60 |
| Equity Value (M) | 17,113,434.09 | 17,933,408.07 | 18,785,651.69 |
| Shares Outstanding (M) | 73.73 | 73.73 | 73.73 |
| Fair Value | $232,094.56 | $243,215.15 | $254,773.38 |
| Upside / Downside | -36.59% | -33.55% | -30.39% |
| 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% |