Definitive Analysis
| Stable Growth | $212,190.02 - $844,097.38 | $574,699.42 |
| Multi-Stage | $104,164.56 - $113,872.31 | $108,929.88 |
| Blended Fair Value | $341,814.65 | |
| Current Price | $26,775.00 | |
| Upside | 1,176.62% | |
| 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 | 7.19% | 7.19% | 7.19% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $212,190.02 | $574,699.42 | $844,097.38 |
| Upside / Downside | 692.49% | 2,046.40% | 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 | 7.19% | 7.19% | 7.19% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,879,624.63 | 8,963,791.68 | 9,047,958.74 |
| Year 2 PV (M) | 9,914,745.17 | 10,103,593.22 | 10,294,222.85 |
| Year 3 PV (M) | 10,915,056.53 | 11,228,388.58 | 11,547,660.39 |
| Year 4 PV (M) | 11,881,398.42 | 12,338,323.47 | 12,808,302.55 |
| Year 5 PV (M) | 12,814,592.73 | 13,433,542.36 | 14,076,180.64 |
| PV of Terminal Value (M) | 323,900,371.65 | 339,544,880.71 | 355,788,141.96 |
| Equity Value (M) | 378,305,789.12 | 395,612,520.01 | 413,562,467.13 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $104,164.56 | $108,929.88 | $113,872.31 |
| Upside / Downside | 289.04% | 306.83% | 325.29% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| U11.SI | United Overseas Bank Limited | 11.62% | $4.10 | 58.46% |
| 9543.SR | Saudi Networkers Services Company | 11.60% | $8.70 | 72.96% |
| 0688.HK | China Overseas Land & Investment Limited | 11.57% | $1.45 | 38.43% |
| 0QKP.L | Phoenix Mecano AG | 11.55% | $51.50 | 65.02% |
| 601668.SS | China State Construction Engineering Corporation Limited | 11.55% | $0.59 | 54.79% |
| 5983.KL | MBM Resources Bhd | 11.49% | $0.60 | 69.77% |
| 601800.SS | China Communications Construction Company Limited | 11.48% | $0.95 | 76.83% |
| 0440.HK | Dah Sing Financial Holdings Limited | 11.45% | $4.08 | 34.85% |
| H02.SI | Haw Par Corporation Limited | 11.39% | $1.80 | 82.18% |
| EDV.AX | Endeavour Group Limited | 11.35% | $0.42 | 79.74% |
| 102260.KS | Dongsung Chemical Co., Ltd. | 11.33% | $470.01 | 61.08% |
| 092230.KS | KPX Holdings Co.,Ltd. | 11.32% | $8,125.94 | 34.75% |
| 9909.HK | Powerlong Commercial Management Holdings Limited | 11.28% | $0.28 | 29.74% |
| SVR.AX | Solvar Limited | 11.25% | $0.20 | 83.01% |
| HOLCO.AS | Holland Colours N.V. | 11.23% | $9.88 | 77.82% |
| RBN-UN.TO | Blue Ribbon Income Fund | 11.23% | $0.93 | 43.10% |
| 0066.HK | MTR Corporation Limited | 11.22% | $3.39 | 77.76% |
| 3360.HK | Far East Horizon Limited | 11.17% | $0.89 | 44.98% |
| 0934.HK | Sinopec Kantons Holdings Limited | 11.16% | $0.47 | 58.03% |
| 317400.KS | Xi S&D Inc. | 11.16% | $481.16 | 64.89% |
| 0146.HK | Tai Ping Carpets International Limited | 11.12% | $0.21 | 51.92% |
| 096760.KS | JW Holdings Corporation | 11.12% | $390.83 | 63.07% |
| 3868.HK | Xinyi Energy Holdings Limited | 11.12% | $0.13 | 60.32% |
| BMW3.DE | Bayerische Motoren Werke AG | 11.11% | $10.52 | 91.60% |
| 1109.HK | China Resources Land Limited | 11.09% | $3.07 | 36.44% |
| 2380.HK | China Power International Development Limited | 11.08% | $0.36 | 56.67% |
| 3900.HK | Greentown China Holdings Limited | 11.07% | $0.93 | 98.98% |
| 600016.SS | China Minsheng Banking Corp., Ltd. | 11.06% | $0.42 | 61.11% |
| BFG.AX | Bell Financial Group Limited | 11.06% | $0.15 | 90.20% |
| 1571.HK | Xin Point Holdings Limited | 11.03% | $0.42 | 41.05% |
| 601577.SS | Bank of Changsha Co., Ltd. | 11.03% | $1.07 | 52.50% |
| IMMOU.BR | Immo Moury SCA | 11.02% | $3.59 | 93.20% |
| 2555.HK | Sichuan Baicha Baidao Industrial Co., Ltd. | 11.00% | $0.70 | 76.19% |
| POMO3.SA | Marcopolo S.A. | 10.98% | $0.61 | 58.30% |
| IEL.AX | IDP Education Limited | 10.96% | $0.63 | 98.92% |
| 1579.HK | Yihai International Holding Ltd. | 10.95% | $1.42 | 88.97% |
| SPTO.JK | PT Surya Pertiwi Tbk | 10.93% | $70.52 | 68.08% |
| TOTG.OL | Totens Sparebank | 10.91% | $31.62 | 87.19% |
| 1052.HK | Yuexiu Transport Infrastructure Limited | 10.89% | $0.51 | 62.60% |
| 601919.SS | COSCO SHIPPING Holdings Co., Ltd. | 10.89% | $1.65 | 67.32% |
| DETEC.HE | Detection Technology Oyj | 10.89% | $1.23 | 99.18% |
| 018500.KS | Dongwon Metal Co., Ltd. | 10.86% | $150.30 | 24.83% |
| 3799.HK | Dali Foods Group Company Limited | 10.86% | $0.41 | 72.83% |
| EBRO.MC | Ebro Foods, S.A. | 10.86% | $2.01 | 77.79% |
| 023590.KS | Daou Technology Inc. | 10.85% | $4,297.70 | 41.75% |
| 0392.HK | Beijing Enterprises Holdings Limited | 10.84% | $3.46 | 43.30% |
| NOVC.DE | Novo Nordisk A/S | 10.83% | $9.90 | 46.60% |
| 0408.HK | Yip's Chemical Holdings Limited | 10.81% | $0.20 | 48.65% |
| 4342.SR | Jadwa Investment - Jadwa Reit Saudi Fund | 10.80% | $1.20 | 85.91% |
| RIAS-B.CO | RIAS A/S | 10.79% | $73.93 | 73.44% |