Definitive Analysis
Loading...
Definitive Analysis

Financials

Fundamentals

Ticker

Industry

Sector

China Merchants Bank Co., Ltd. (600036.SS)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$323.87 - $1,171.04$1,026.67
Multi-Stage$148.92 - $162.90$155.78
Blended Fair Value$591.23
Current Price$45.95
Upside1,186.67%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS16.86%13.47%2.191.921.731.411.271.010.910.740.690.67
YoY Growth--14.31%10.93%23.02%10.51%26.44%11.09%22.40%7.25%2.99%8.06%
Dividend Yield--5.06%5.88%5.04%3.00%2.49%3.12%2.66%2.54%3.59%4.16%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)148,578.00
(-) Cash Dividends Paid (M)58,000.00
(=) Cash Retained (M)90,578.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)29,715.6018,572.2511,143.35
Cash Retained (M)90,578.0090,578.0090,578.00
(-) Cash Required (M)-29,715.60-18,572.25-11,143.35
(=) Excess Retained (M)60,862.4072,005.7579,434.65
(/) Shares Outstanding (M)25,232.7125,232.7125,232.71
(=) Excess Retained per Share2.412.853.15
LTM Dividend per Share2.302.302.30
(+) Excess Retained per Share2.412.853.15
(=) Adjusted Dividend4.715.155.45
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Fair Value$323.87$1,026.67$1,171.04
Upside / Downside604.84%2,134.33%2,448.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)148,578.00158,235.57168,520.88179,474.74191,140.60203,564.74209,671.68
Payout Ratio39.04%49.23%59.42%69.61%79.81%90.00%92.50%
Projected Dividends (M)58,000.0077,898.40100,138.55124,940.79152,544.24183,208.26193,946.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)72,095.4472,778.8173,462.17
Year 2 PV (M)85,774.8087,408.5789,057.76
Year 3 PV (M)99,047.14101,890.42104,787.61
Year 4 PV (M)111,921.29116,225.47120,652.61
Year 5 PV (M)124,405.96130,414.81136,653.64
PV of Terminal Value (M)3,264,315.103,421,982.743,585,684.69
Equity Value (M)3,757,559.733,930,700.824,110,298.48
Shares Outstanding (M)25,232.7125,232.7125,232.71
Fair Value$148.92$155.78$162.90
Upside / Downside224.08%239.02%254.51%

High-Yield Dividend Screener

« Prev Page 57 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
600559.SSHebei Hengshui Laobaigan Liquor Co., Ltd.2.78%$0.4564.37%
600905.SSChina Three Gorges Renewables (Group) Co.,Ltd.2.78%$0.1161.03%
9301.TMitsubishi Logistics Corporation2.78%$33.2924.28%
PMJS.JKPT Putra Mandiri Jembar Tbk2.78%$3.2046.17%
001500.KSHyundai Motor Securities Co., Ltd.2.77%$219.2027.59%
002673.SZWestern Securities Co., Ltd.2.77%$0.2250.84%
016580.KSWhan In Pharm Co.,Ltd.2.77%$300.2927.91%
3407.TAsahi Kasei Corporation2.77%$38.4137.00%
603529.SSAIMA Technology Group Co. Ltd.2.77%$0.8233.96%
6712.TWOEver Supreme Bio Technology Co., Ltd2.77%$4.6578.29%
ALGLD.PAGold By Gold S.A.2.77%$0.0953.50%
FRAGUAB.MXCorporativo Fragua, S.A.B. de C.V.2.77%$15.0830.80%
GSY.TOgoeasy Ltd.2.77%$3.6526.22%
PLAZ-B.STPlatzer Fastigheter Holding AB (publ)2.77%$2.0534.89%
002422.SZSichuan Kelun Pharmaceutical Co., Ltd.2.76%$0.8177.67%
002608.SZJiangsu Guoxin Corp. Ltd.2.76%$0.2021.73%
0ABJ.LAlleima AB (publ)2.76%$2.2958.73%
0QML.LBVZ Holding AG2.76%$34.0014.12%
0RH9.LNordic Waterproofing Holding AB (publ)2.76%$5.0370.88%
300428.SZLizhong Sitong Light Alloys Group Co., Ltd.2.76%$0.6452.10%
5076.TINFRONEER Holdings Inc.2.76%$58.9934.86%
603866.SSToly Bread Co.,Ltd.2.76%$0.1560.39%
000030.SZFAWER Automotive Parts Limited Company2.75%$0.1640.40%
002216.SZSanquan Food Co., Ltd.2.75%$0.3150.18%
002658.SZBeijing SDL Technology Co.,Ltd.2.75%$0.2575.22%
017900.KSAUK Corp.2.75%$49.6364.11%
035150.KSBAIKSAN Co,. Ltd2.75%$355.8316.51%
4031.SRSaudi Ground Services Company2.75%$1.0047.84%
5880.TWTaiwan Cooperative Financial Holding Co., Ltd.2.75%$0.6754.40%
601006.SSDaqin Railway Co., Ltd.2.75%$0.1442.92%
6098.HKCountry Garden Services Holdings Company Limited2.75%$0.1774.92%
688408.SSArctech Solar Holding Co., Ltd.2.75%$1.1677.11%
7981.TTakara Standard Co.,Ltd.2.75%$80.2137.23%
BMA.BABanco Macro S.A.2.75%$382.2958.85%
BN4.SIKeppel Corporation Limited2.75%$0.2975.31%
XRF.AXXRF Scientific Limited2.75%$0.0642.12%
002034.SZWangneng Environment Co., Ltd.2.74%$0.4434.20%
002170.KSSamyang Tongsang Co., Ltd2.74%$1,511.7730.07%
002936.SZBank of Zhengzhou Co., Ltd.2.74%$0.0525.12%
F17.SIGuocoLand Limited2.74%$0.0648.52%
IZS.WAIzostal S.A.2.74%$0.0921.81%
MAJOR-R.BKMajor Cineplex Group Public Company Limited2.74%$0.1928.63%
4704.TTrend Micro Incorporated2.73%$177.4367.34%
600826.SSDlg Exhibitions & Events Corporation Limited2.73%$0.2972.85%
600976.SSJianmin Pharmaceutical Group Co.,Ltd.2.73%$0.9243.09%
601728.SSChina Telecom Corporation Limited2.73%$0.1743.22%
7036.TeMnet Japan.co.ltd.2.73%$31.7695.99%
BYMA.BABolsas y Mercados Argentinos S.A.2.73%$8.2440.37%
CRIV3.SAFinanceira Alfa S.A. - Crédito, Financiamento e Investimentos2.73%$0.1998.46%
PND.FMowi ASA2.73%$0.5773.97%