Definitive Analysis
| Stable Growth | $209,951.50 - $844,097.38 | $560,051.66 |
| Multi-Stage | $103,700.38 - $113,362.63 | $108,443.38 |
| Blended Fair Value | $334,247.52 | |
| Current Price | $26,775.00 | |
| Upside | 1,148.36% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.99% | 15.07% | 2,235.27 | 6,883.97 | 1,752.66 | 829.66 | 1,002.11 | 1,269.08 | 1,002.11 | 693.06 | 598.60 | 817.30 |
| YoY Growth | - | - | -67.53% | 292.77% | 111.25% | -17.21% | -21.04% | 26.64% | 44.59% | 15.78% | -26.76% | 48.78% |
| Dividend Yield | - | - | 9.49% | 28.65% | 6.02% | 3.25% | 4.53% | 7.51% | 3.68% | 2.17% | 2.26% | 5.34% |
| Net Income To Common (M) | 15,414,710.00 |
| (-) Cash Dividends Paid (M) | 7,808,837.00 |
| (=) Cash Retained (M) | 7,605,873.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,082,942.00 | 1,926,838.75 | 1,156,103.25 |
| Cash Retained (M) | 7,605,873.00 | 7,605,873.00 | 7,605,873.00 |
| (-) Cash Required (M) | -3,082,942.00 | -1,926,838.75 | -1,156,103.25 |
| (=) Excess Retained (M) | 4,522,931.00 | 5,679,034.25 | 6,449,769.75 |
| (/) Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| (=) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| LTM Dividend per Share | 2,150.12 | 2,150.12 | 2,150.12 |
| (+) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| (=) Adjusted Dividend | 3,395.49 | 3,713.82 | 3,926.03 |
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $209,951.50 | $560,051.66 | $844,097.38 |
| Upside / Downside | 684.13% | 1,991.70% | 3,052.56% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 15,414,710.00 | 16,416,666.15 | 17,483,749.45 | 18,620,193.16 | 19,830,505.72 | 21,119,488.59 | 21,753,073.25 |
| Payout Ratio | 50.66% | 58.53% | 66.40% | 74.26% | 82.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 7,808,837.00 | 9,608,129.03 | 11,608,336.69 | 13,827,977.00 | 16,287,125.33 | 19,007,539.73 | 20,121,592.76 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,878,133.73 | 8,962,286.66 | 9,046,439.58 |
| Year 2 PV (M) | 9,911,416.07 | 10,100,200.70 | 10,290,766.33 |
| Year 3 PV (M) | 10,909,559.51 | 11,222,733.76 | 11,541,844.79 |
| Year 4 PV (M) | 11,873,420.85 | 12,330,039.10 | 12,799,702.62 |
| Year 5 PV (M) | 12,803,838.45 | 13,422,268.64 | 14,064,367.60 |
| PV of Terminal Value (M) | 322,243,619.99 | 337,808,107.33 | 353,968,284.24 |
| Equity Value (M) | 376,619,988.60 | 393,845,636.20 | 411,711,405.16 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $103,700.38 | $108,443.38 | $113,362.63 |
| Upside / Downside | 287.30% | 305.02% | 323.39% |
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|---|---|---|---|---|
| 064960.KS | SNT Motiv Co., Ltd. | 3.32% | $1,136.73 | 32.23% |
| 0RNT.L | Brødrene A & O Johansen A/S | 3.32% | $3.07 | 43.48% |
| 603676.SS | Tibet Weixinkang Medicine Co., Ltd. | 3.32% | $0.35 | 67.92% |
| 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% |
| VZN.SW | VZ Holding AG | 3.32% | $4.96 | 45.59% |
| 6438.TW | Symtek Automation Asia Co., Ltd. | 3.31% | $4.69 | 60.82% |
| 8272.TWO | Changing Information Technology Inc. | 3.31% | $2.59 | 60.59% |
| ALDEL.PA | Delfingen Industry S.A. | 3.31% | $1.15 | 38.10% |
| GJF.OL | Gjensidige Forsikring ASA | 3.31% | $10.00 | 77.33% |
| 001560.KS | Cheil Grinding Wheel Ind. Co., Ltd. | 3.30% | $321.67 | 15.39% |
| 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% |
| 009770.KS | Sam Jung Pulp Co.,Ltd. | 3.28% | $1,000.15 | 13.81% |
| 3050.SR | Southern Province Cement Company | 3.28% | $0.74 | 53.26% |
| 603075.SS | Hangzhou Heatwell Electric Heating Technology Co., Ltd. | 3.28% | $0.72 | 90.17% |
| 6741.T | Nippon Signal Co., Ltd. | 3.28% | $42.98 | 32.43% |
| 000088.SZ | Shenzhen Yan Tian Port Holdings Co.,Ltd. | 3.27% | $0.15 | 53.36% |
| 002648.SZ | Satellite Chemical Co.,Ltd. | 3.27% | $0.58 | 31.65% |
| 005750.KS | Daelim B&Co Co.,Ltd. | 3.27% | $152.60 | 38.32% |
| 011760.KS | Hyundai Corporation | 3.27% | $700.00 | 11.11% |
| 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% |
| IAF-PI.TO | iA Financial Corporation Inc. | 3.27% | $0.82 | 25.22% |
| 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% |
| 603558.SS | Zhejiang Jasan Holding Group Co., Ltd. | 3.26% | $0.37 | 34.35% |
| 7744.T | Noritsu Koki Co., Ltd. | 3.26% | $60.54 | 54.32% |
| MYTIL.AT | Metlen Energy & Metals S.A. | 3.26% | $1.72 | 19.73% |
| TCW.TO | Trican Well Service Ltd. | 3.26% | $0.20 | 35.68% |
| 001040.KS | CJ Corporation | 3.25% | $5,626.03 | 48.88% |
| 002507.SZ | Chongqing Fuling Zhacai Group Co., Ltd. | 3.25% | $0.42 | 60.46% |
| 016740.KS | DUAL Co., Ltd. | 3.25% | $123.07 | 16.96% |
| 131090.KQ | Secuve Co., Ltd. | 3.25% | $125.00 | 32.25% |
| 300729.SZ | Loctek Ergonomic Technology Corp. | 3.25% | $0.44 | 63.17% |
| 300881.SZ | Shengtak New Material Co., Ltd | 3.25% | $1.10 | 65.22% |