Definitive Analysis
| Stable Growth | $957,534.33 - $3,949,959.84 | $2,465,640.41 |
| Multi-Stage | $473,076.67 - $517,509.94 | $494,886.69 |
| Blended Fair Value | $1,480,263.55 | |
| Current Price | $100,700.00 | |
| Upside | 1,369.97% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 43.48% | 22.71% | 5,567.30 | 3,560.33 | 3,051.71 | 1,017.24 | 1,169.82 | 915.51 | 813.79 | 1,118.96 | 1,118.96 | 1,025.17 |
| YoY Growth | - | - | 56.37% | 16.67% | 200.00% | -13.04% | 27.78% | 12.50% | -27.27% | 0.00% | 9.15% | 42.53% |
| Dividend Yield | - | - | 6.03% | 3.28% | 3.77% | 1.37% | 1.41% | 3.52% | 2.30% | 3.61% | 3.02% | 2.12% |
| Net Income To Common (M) | 7,828,160.00 |
| (-) Cash Dividends Paid (M) | 2,559,045.00 |
| (=) Cash Retained (M) | 5,269,115.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,565,632.00 | 978,520.00 | 587,112.00 |
| Cash Retained (M) | 5,269,115.00 | 5,269,115.00 | 5,269,115.00 |
| (-) Cash Required (M) | -1,565,632.00 | -978,520.00 | -587,112.00 |
| (=) Excess Retained (M) | 3,703,483.00 | 4,290,595.00 | 4,682,003.00 |
| (/) Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| (=) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| LTM Dividend per Share | 6,492.78 | 6,492.78 | 6,492.78 |
| (+) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| (=) Adjusted Dividend | 15,889.22 | 17,378.83 | 18,371.91 |
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $957,534.33 | $2,465,640.41 | $3,949,959.84 |
| Upside / Downside | 850.88% | 2,348.50% | 3,822.50% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,828,160.00 | 8,336,990.40 | 8,878,894.78 | 9,456,022.94 | 10,070,664.43 | 10,725,257.62 | 11,047,015.34 |
| Payout Ratio | 32.69% | 44.15% | 55.61% | 67.08% | 78.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,559,045.00 | 3,680,964.61 | 4,937,921.81 | 6,342,731.36 | 7,909,303.44 | 9,652,731.85 | 10,218,489.19 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,399,887.45 | 3,432,113.87 | 3,464,340.30 |
| Year 2 PV (M) | 4,212,597.89 | 4,292,836.04 | 4,373,831.17 |
| Year 3 PV (M) | 4,997,870.67 | 5,141,341.57 | 5,287,532.23 |
| Year 4 PV (M) | 5,756,384.99 | 5,977,759.31 | 6,205,458.14 |
| Year 5 PV (M) | 6,488,805.17 | 6,802,216.89 | 7,127,623.61 |
| PV of Terminal Value (M) | 161,601,474.99 | 169,406,886.66 | 177,511,029.80 |
| Equity Value (M) | 186,457,021.15 | 195,053,154.35 | 203,969,815.24 |
| Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| Fair Value | $473,076.67 | $494,886.69 | $517,509.94 |
| Upside / Downside | 369.79% | 391.45% | 413.91% |
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| 6791.TWO | Taiwan Auto-Design Co. | 3.32% | $3.49 | 85.79% |
| 9432.T | NTT, Inc. | 3.32% | $5.24 | 41.63% |
| AJBU.SI | Keppel DC REIT | 3.32% | $0.07 | 51.19% |
| MFF.AX | MFF Capital Investments Limited | 3.32% | $0.16 | 6.10% |
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| GJF.OL | Gjensidige Forsikring ASA | 3.31% | $10.00 | 77.33% |
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| 002895.SZ | Guizhou Chanhen Chemical Corporation | 3.30% | $1.21 | 57.70% |
| 0GWB.IL | L E Lundbergföretagen AB (publ) | 3.30% | $16.72 | 54.63% |
| 2441.TW | Greatek Electronics Inc. | 3.30% | $2.98 | 71.42% |
| MAVI.IS | Mavi Giyim Sanayi ve Ticaret A.S. | 3.30% | $1.41 | 53.21% |
| MTSA3.SA | METISA Metalúrgica Timboense S.A. | 3.30% | $2.51 | 53.64% |
| 3475.T | Good Com Asset Co., Ltd. | 3.29% | $41.31 | 53.09% |
| ARCO | Arcos Dorados Holdings Inc. | 3.29% | $0.24 | 20.61% |
| GLINT.LS | Glintt - Global Intelligent Technologies, S.A. | 3.29% | $0.04 | 63.67% |
| LABB.MX | Genomma Lab Internacional, S.A.B. de C.V. | 3.29% | $0.59 | 28.90% |
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| 3050.SR | Southern Province Cement Company | 3.28% | $0.74 | 53.26% |
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| 000088.SZ | Shenzhen Yan Tian Port Holdings Co.,Ltd. | 3.27% | $0.15 | 53.36% |
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| 2248.TWO | Shining Victory Motor Electronic Co., Ltd. | 3.27% | $1.61 | 18.34% |
| 4021.T | Nissan Chemical Corporation | 3.27% | $175.28 | 52.54% |
| 603439.SS | GuiZhou SanLi Pharmaceutical Co.,Ltd | 3.27% | $0.38 | 95.76% |
| 7942.T | JSP Corporation | 3.27% | $79.98 | 39.18% |
| BRIT3.SA | Brisanet Participações S.A. | 3.27% | $0.09 | 82.21% |
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| ORS.MI | Orsero S.p.A. | 3.27% | $0.61 | 33.02% |
| PEHN.SW | Private Equity Holding AG | 3.27% | $2.08 | 17.62% |
| 4471.T | Sanyo Chemical Industries Ltd. | 3.26% | $169.97 | 27.59% |
| 5315.TWO | United Radiant Technology Corporation | 3.26% | $0.80 | 49.66% |
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