Definitive Analysis
| Stable Growth | $1,086,406.92 - $2,162,256.70 | $2,026,351.19 |
| Multi-Stage | $337,062.63 - $368,814.57 | $352,647.29 |
| Blended Fair Value | $1,189,499.24 | |
| Current Price | $72,800.00 | |
| Upside | 1,533.93% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 38.39% | 9.41% | 2,201.60 | 1,927.00 | 695.94 | 704.36 | 775.62 | 433.68 | 217.17 | 1,011.39 | 1,264.12 | 861.35 |
| YoY Growth | - | - | 14.25% | 176.89% | -1.19% | -9.19% | 78.85% | 99.69% | -78.53% | -19.99% | 46.76% | -3.83% |
| Dividend Yield | - | - | 6.91% | 8.25% | 4.49% | 4.23% | 4.18% | 3.34% | 1.65% | 7.28% | 8.11% | 3.58% |
| Net Income To Common (M) | 158,127.86 |
| (-) Cash Dividends Paid (M) | 80,884.32 |
| (=) Cash Retained (M) | 77,243.55 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 31,625.57 | 19,765.98 | 11,859.59 |
| Cash Retained (M) | 77,243.55 | 77,243.55 | 77,243.55 |
| (-) Cash Required (M) | -31,625.57 | -19,765.98 | -11,859.59 |
| (=) Excess Retained (M) | 45,617.97 | 57,477.56 | 65,383.96 |
| (/) Shares Outstanding (M) | 14.54 | 14.54 | 14.54 |
| (=) Excess Retained per Share | 3,136.57 | 3,952.00 | 4,495.62 |
| LTM Dividend per Share | 5,561.39 | 5,561.39 | 5,561.39 |
| (+) Excess Retained per Share | 3,136.57 | 3,952.00 | 4,495.62 |
| (=) Adjusted Dividend | 8,697.95 | 9,513.39 | 10,057.01 |
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $1,086,406.92 | $2,026,351.19 | $2,162,256.70 |
| Upside / Downside | 1,392.32% | 2,683.45% | 2,870.13% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 158,127.86 | 168,406.17 | 179,352.58 | 191,010.49 | 203,426.17 | 216,648.88 | 223,148.34 |
| Payout Ratio | 51.15% | 58.92% | 66.69% | 74.46% | 82.23% | 90.00% | 92.50% |
| Projected Dividends (M) | 80,884.32 | 99,226.55 | 119,611.54 | 142,227.34 | 167,277.84 | 194,983.99 | 206,412.22 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 92,430.46 | 93,306.57 | 94,182.69 |
| Year 2 PV (M) | 103,788.08 | 105,764.95 | 107,760.47 |
| Year 3 PV (M) | 114,959.45 | 118,259.53 | 121,622.16 |
| Year 4 PV (M) | 125,946.82 | 130,790.38 | 135,772.32 |
| Year 5 PV (M) | 136,752.40 | 143,357.60 | 150,215.58 |
| PV of Terminal Value (M) | 4,328,333.24 | 4,537,393.36 | 4,754,454.70 |
| Equity Value (M) | 4,902,210.46 | 5,128,872.39 | 5,364,007.92 |
| Shares Outstanding (M) | 14.54 | 14.54 | 14.54 |
| Fair Value | $337,062.63 | $352,647.29 | $368,814.57 |
| Upside / Downside | 363.00% | 384.41% | 406.61% |
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| 044820.KS | Cosmax BTI, Inc. | 3.24% | $449.62 | 35.33% |
| 8017.HK | TradeGo FinTech Limited | 3.24% | $0.05 | 45.22% |
| ALPM.PA | Precia S.A. | 3.24% | $0.86 | 32.45% |
| DGV.MI | Digital Value S.p.A. | 3.24% | $0.93 | 15.10% |
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| 601018.SS | Ningbo Zhoushan Port Company Limited | 3.23% | $0.12 | 48.88% |
| 6448.T | Brother Industries, Ltd. | 3.23% | $100.95 | 46.67% |
| AZE.BR | Azelis Group N.V. | 3.23% | $0.30 | 24.74% |
| FDP | Fresh Del Monte Produce Inc. | 3.23% | $1.14 | 68.58% |
| FMM-B.ST | FM Mattsson Mora Group AB (publ) | 3.23% | $2.25 | 87.42% |
| ITECH.ST | I-Tech AB | 3.23% | $1.74 | 50.69% |
| MTY.TO | MTY Food Group Inc. | 3.23% | $1.24 | 73.76% |
| SKA-B.ST | Skanska AB (publ) | 3.23% | $8.31 | 55.80% |
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| 3533.TW | Lotes Co., Ltd | 3.22% | $41.68 | 56.60% |
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| 600886.SS | SDIC Power Holdings Co., Ltd. | 3.22% | $0.42 | 51.34% |
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| ESF.VI | Eurofins Scientific SE | 3.22% | $2.01 | 62.22% |
| ETE.AT | National Bank of Greece S.A. | 3.22% | $0.44 | 36.82% |
| MOTV3.SA | Motiva S.A. | 3.22% | $0.48 | 33.62% |
| NCKL.JK | PT Trimegah Bangun Persada Tbk | 3.22% | $37.57 | 29.64% |
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| 002283.SZ | Tianrun Industry Technology Co., Ltd. | 3.21% | $0.20 | 65.38% |
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| 6250.T | Yamabiko Corporation | 3.21% | $95.31 | 27.60% |
| SKF-A.ST | AB SKF (publ) | 3.21% | $7.93 | 74.23% |
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