DDM Analysis: FMNB

Valuation Snapshot

Stable Growth	$48.15 - $270.99	$87.93
Multi-Stage	$29.15 - $31.84	$30.47
Blended Fair Value	$59.20
Current Price	$14.41
Upside	310.82%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	19.22%	27.50%	0.67	0.67	0.58	0.37	0.34	0.28	0.22	0.16	0.11	0.07
YoY Growth	-	-	-0.03%	15.42%	56.37%	11.21%	20.07%	26.73%	38.32%	38.97%	61.24%	19.99%
Dividend Yield	-	-	5.17%	5.12%	4.62%	2.19%	2.01%	2.41%	1.56%	1.15%	0.80%	0.80%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	54.34
(-) Cash Dividends Paid (M)	25.45
(=) Cash Retained (M)	28.89

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	10.87	6.79	4.08
Cash Retained (M)	28.89	28.89	28.89
(-) Cash Required (M)	-10.87	-6.79	-4.08
(=) Excess Retained (M)	18.03	22.10	24.82
(/) Shares Outstanding (M)	37.65	37.65	37.65
(=) Excess Retained per Share	0.48	0.59	0.66
LTM Dividend per Share	0.68	0.68	0.68
(+) Excess Retained per Share	0.48	0.59	0.66
(=) Adjusted Dividend	1.15	1.26	1.34
WACC / Discount Rate	8.03%	8.03%	8.03%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$48.15	$87.93	$270.99
Upside / Downside	234.18%	510.19%	1,780.56%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	54.34	57.87	61.63	65.64	69.91	74.45	76.68
Payout Ratio	46.83%	55.46%	64.10%	72.73%	81.37%	90.00%	92.50%
Projected Dividends (M)	25.45	32.10	39.51	47.74	56.88	67.01	70.93

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.03%	8.03%	8.03%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	29.43	29.71	29.99
Year 2 PV (M)	33.22	33.85	34.49
Year 3 PV (M)	36.81	37.87	38.94
Year 4 PV (M)	40.22	41.76	43.35
Year 5 PV (M)	43.44	45.54	47.72
PV of Terminal Value (M)	914.35	958.52	1,004.37
Equity Value (M)	1,097.47	1,147.25	1,198.87
Shares Outstanding (M)	37.65	37.65	37.65
Fair Value	$29.15	$30.47	$31.84
Upside / Downside	102.28%	111.46%	120.97%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 54 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
600425.SS	Xinjiang Qingsong Building Materials and Chemicals (Group) Co, Ltd.	2.99%	$0.12	76.32%
605098.SS	Shanghai Action Education Technology CO.,LTD.	2.99%	$1.25	51.61%
6473.T	JTEKT Corporation	2.99%	$51.92	84.17%
B2H.OL	B2Holding ASA	2.99%	$0.21	21.39%
GENTERA.MX	Gentera, S.A.B. de C.V.	2.99%	$1.36	28.15%
JYSK.CO	Jyske Bank A/S	2.99%	$26.22	30.23%
MCGS.QA	Medicare Group Q.P.S.C.	2.99%	$0.20	64.83%
002003.SZ	Zhejiang Weixing Industrial Development Co., Ltd.	2.98%	$0.32	55.93%
0RHU.L	Flughafen Wien AG	2.98%	$1.65	62.41%
8914.T	Arealink Co., Ltd.	2.98%	$31.69	44.83%
DXT.TO	Dexterra Group Inc.	2.98%	$0.35	55.12%
NST.AX	Northern Star Resources Limited	2.98%	$0.73	45.12%
600704.SS	Wuchan Zhongda Group Co.,Ltd.	2.97%	$0.17	22.55%
8593.T	Mitsubishi HC Capital Inc.	2.97%	$38.97	34.55%
KBL.TO	K-Bro Linen Inc.	2.97%	$1.04	69.43%
O10.SI	Far East Orchard Limited	2.97%	$0.04	30.11%
PLANB.BK	Plan B Media Public Company Limited	2.97%	$0.12	46.85%
005850.KS	SL Corporation	2.96%	$1,235.83	18.10%
6527.TWO	Crystalvue Medical Corporation	2.96%	$2.24	40.94%
9201.T	Japan Airlines Co., Ltd.	2.96%	$85.89	30.05%
9633.HK	Nongfu Spring Co., Ltd.	2.96%	$1.43	61.73%
9931.TW	Hsin Kao Gas Co.,Ltd.	2.96%	$1.01	40.68%
FTS	Fortis Inc.	2.96%	$1.54	47.07%
035890.KQ	Seohee Construction Co., Ltd.	2.95%	$47.87	7.53%
3132.T	Macnica Fuji Electronics Holdings, Inc.	2.95%	$70.52	56.32%
600667.SS	Wuxi Taiji Industry Limited Corporation	2.95%	$0.23	83.84%
603577.SS	Qingdao Huijintong Power Equipment Co.,Ltd.	2.95%	$0.31	79.62%
603699.SS	Neway Valve (Suzhou) Co., Ltd.	2.95%	$1.53	81.92%
000020.KS	Dongwha Pharm.Co.,Ltd	2.94%	$182.44	65.71%
000895.SZ	Henan Shuanghui Investment & Development Co.,Ltd.	2.94%	$0.78	52.50%
002540.SZ	Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd.	2.94%	$0.21	63.05%
013120.KQ	DongWon Development Co.,Ltd.	2.94%	$80.92	85.28%
107590.KS	Miwon Holdings Co., Ltd.	2.94%	$1,985.59	19.06%
6779.T	Nihon Dempa Kogyo Co., Ltd.	2.94%	$30.05	58.30%
8084.T	Ryoden Corporation	2.94%	$106.29	46.57%
8890.T	Raysum Co., Ltd.	2.94%	$173.16	50.05%
9303.T	The Sumitomo Warehouse Co., Ltd.	2.94%	$104.40	36.71%
APZ.AX	Aspen Group	2.94%	$0.16	31.96%
FSECURE.HE	F-Secure Oyj	2.94%	$0.06	45.60%
RELAIS.HE	Relais Group Oyj	2.94%	$0.50	54.01%
0QN2.L	Interroll Holding AG	2.93%	$63.83	41.54%
3515.TW	ASROCK Incorporation	2.93%	$7.30	57.65%
601619.SS	Ningxia Jiaze Renewables Corporation Limited	2.93%	$0.13	56.17%
8508.T	J Trust Co., Ltd.	2.93%	$13.97	39.79%
000166.SZ	Shenwan Hongyuan Group Co., Ltd.	2.92%	$0.15	41.10%
002299.SZ	Fujian Sunner Development Co., Ltd.	2.92%	$0.48	39.69%
4949.TW	Win Win Precision Technology Co., Ltd.	2.92%	$1.08	55.94%
5386.T	Tsuruya Co., Ltd.	2.92%	$11.98	57.58%
600267.SS	Zhejiang Hisun Pharmaceutical Co., Ltd.	2.92%	$0.29	61.49%
600758.SS	LIAONING ENERGY INDUSTRY Co.,LTD	2.92%	$0.11	69.99%

Financial Statements

Periods / Units / Analysis

Fundamentals

Valuations

Mode

Miscellaneous

Ticker

Industry

Sector

Farmers National Banc Corp. (FMNB)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener