Definitive Analysis
| Stable Growth | $3,391.97 - $17,866.05 | $6,778.46 |
| Multi-Stage | $2,396.71 - $2,623.58 | $2,508.05 |
| Blended Fair Value | $4,643.26 | |
| Current Price | $484.00 | |
| Upside | 859.35% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 10.77% | -3.39% | 8.73 | 7.23 | 6.14 | 0.04 | 0.00 | 5.23 | 7.00 | 9.16 | 14.08 | 47.40 |
| YoY Growth | - | - | 20.79% | 17.75% | 17,347.96% | 0.00% | -100.00% | -25.25% | -23.58% | -34.92% | -70.30% | 284.71% |
| Dividend Yield | - | - | 1.60% | 1.65% | 0.78% | 0.00% | 0.00% | 1.05% | 0.86% | 1.07% | 1.60% | 5.02% |
| Net Income To Common (M) | 5,545,680.85 |
| (-) Cash Dividends Paid (M) | 2,687,775.59 |
| (=) Cash Retained (M) | 2,857,905.26 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,109,136.17 | 693,210.11 | 415,926.06 |
| Cash Retained (M) | 2,857,905.26 | 2,857,905.26 | 2,857,905.26 |
| (-) Cash Required (M) | -1,109,136.17 | -693,210.11 | -415,926.06 |
| (=) Excess Retained (M) | 1,748,769.09 | 2,164,695.15 | 2,441,979.19 |
| (/) Shares Outstanding (M) | 61,152.37 | 61,152.37 | 61,152.37 |
| (=) Excess Retained per Share | 28.60 | 35.40 | 39.93 |
| LTM Dividend per Share | 43.95 | 43.95 | 43.95 |
| (+) Excess Retained per Share | 28.60 | 35.40 | 39.93 |
| (=) Adjusted Dividend | 72.55 | 79.35 | 83.88 |
| WACC / Discount Rate | 6.73% | 6.73% | 6.73% |
| Growth Rate | 4.49% | 5.49% | 6.49% |
| Fair Value | $3,391.97 | $6,778.46 | $17,866.05 |
| Upside / Downside | 600.82% | 1,300.51% | 3,591.33% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 5,545,680.85 | 5,850,225.32 | 6,171,494.05 | 6,510,405.44 | 6,867,928.36 | 7,245,084.88 | 7,462,437.42 |
| Payout Ratio | 48.47% | 56.77% | 65.08% | 73.39% | 81.69% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,687,775.59 | 3,321,341.71 | 4,016,387.59 | 4,777,754.96 | 5,610,631.92 | 6,520,576.39 | 6,902,754.62 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.73% | 6.73% | 6.73% |
| Growth Rate | 4.49% | 5.49% | 6.49% |
| Year 1 PV (M) | 3,082,512.86 | 3,112,012.97 | 3,141,513.08 |
| Year 2 PV (M) | 3,459,539.48 | 3,526,072.96 | 3,593,240.14 |
| Year 3 PV (M) | 3,819,424.10 | 3,930,134.28 | 4,042,963.42 |
| Year 4 PV (M) | 4,162,719.31 | 4,324,372.87 | 4,490,689.54 |
| Year 5 PV (M) | 4,489,962.09 | 4,708,961.96 | 4,936,425.12 |
| PV of Terminal Value (M) | 127,550,170.11 | 133,771,485.64 | 140,233,225.05 |
| Equity Value (M) | 146,564,327.94 | 153,373,040.67 | 160,438,056.36 |
| Shares Outstanding (M) | 61,152.37 | 61,152.37 | 61,152.37 |
| Fair Value | $2,396.71 | $2,508.05 | $2,623.58 |
| Upside / Downside | 395.19% | 418.19% | 442.06% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 688009.SS | China Railway Signal & Communication Corporation Limited | 3.25% | $0.18 | 55.08% |
| ALMB.CO | Alm. Brand A/S | 3.25% | $0.60 | 69.79% |
| BUDI.JK | PT Budi Starch & Sweetener Tbk | 3.25% | $7.01 | 35.52% |
| 0398.HK | Oriental Watch Holdings Limited | 3.24% | $0.12 | 19.25% |
| 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% |
| ULTJ.JK | PT Ultrajaya Milk Industry & Trading Company Tbk | 3.24% | $46.50 | 39.75% |
| 004890.KS | Dongil Industries Co.,Ltd. | 3.23% | $1,262.87 | 23.13% |
| 5297.TWO | 3s Silicon Tech., Inc. | 3.23% | $0.92 | 61.02% |
| 600219.SS | Shandong Nanshan Aluminium Co.,Ltd. | 3.23% | $0.17 | 39.17% |
| 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% |
| 1179.HK | H World Group Limited | 3.22% | $1.20 | 98.76% |
| 2745.TWO | Life Travel & Tourist Service Co., Ltd. | 3.22% | $3.48 | 41.20% |
| 3533.TW | Lotes Co., Ltd | 3.22% | $41.68 | 56.60% |
| 5908.KL | DKSH Holdings (Malaysia) Berhad | 3.22% | $0.19 | 20.93% |
| 600886.SS | SDIC Power Holdings Co., Ltd. | 3.22% | $0.42 | 51.34% |
| 603566.SS | Pulike Biological Engineering, Inc. | 3.22% | $0.40 | 95.20% |
| 9583.SR | United Mining Industries Co. | 3.22% | $1.45 | 81.04% |
| CBG-R.BK | Carabao Group Public Company Limited | 3.22% | $1.40 | 47.30% |
| 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% |
| TEA.AX | Tasmea Ltd | 3.22% | $0.13 | 38.34% |
| 002283.SZ | Tianrun Industry Technology Co., Ltd. | 3.21% | $0.20 | 65.38% |
| 004840.KS | DRB Holding Co., Ltd. | 3.21% | $160.40 | 26.30% |
| 241560.KS | Doosan Bobcat Inc. | 3.21% | $1,824.89 | 39.43% |
| 300406.SZ | Beijing Strong Biotechnologies, Inc. | 3.21% | $0.42 | 56.93% |
| 4088.T | Air Water Inc. | 3.21% | $72.44 | 32.93% |
| 603187.SS | Qingdao Hiron Commercial Cold Chain Co., Ltd. | 3.21% | $0.50 | 50.00% |
| 6250.T | Yamabiko Corporation | 3.21% | $95.31 | 27.60% |
| SKF-A.ST | AB SKF (publ) | 3.21% | $7.93 | 74.23% |
| 002441.SZ | Zhongyeda Electric Co., Ltd. | 3.20% | $0.30 | 77.91% |
| 002991.SZ | Ganyuan Foods Co., Ltd. | 3.20% | $1.82 | 65.31% |
| 300833.SZ | Guangzhou Haoyang Electronic Co.,Ltd. | 3.20% | $1.30 | 92.60% |
| 688799.SS | Hunan Warrant Pharmaceutical Co.,Ltd | 3.20% | $1.53 | 67.14% |
| 029530.KS | sindoh Co.,Ltd. | 3.19% | $1,500.14 | 29.67% |
| 0RL4.L | Catella AB (publ) | 3.19% | $0.91 | 47.34% |
| 5889.T | Japan Eyewear Holdings Co., Ltd. | 3.19% | $64.74 | 39.09% |
| DAPS.BO | DAPS Advertising Ltd. | 3.19% | $0.65 | 14.79% |
| PTPS.JK | PT Pulau Subur Tbk | 3.19% | $6.00 | 38.20% |