Definitive Analysis
| Stable Growth | $145,341.28 - $244,333.82 | $188,700.51 |
| Multi-Stage | $122,687.50 - $133,438.71 | $127,968.33 |
| Blended Fair Value | $158,334.42 | |
| Current Price | $183,500.00 | |
| Upside | -13.71% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 45.18% | 14.12% | 7,880.54 | 9,415.78 | 2,303.21 | 2,003.23 | 1,853.24 | 1,221.75 | 1,234.19 | 3,560.60 | 3,412.31 | 2,305.61 |
| YoY Growth | - | - | -16.30% | 308.81% | 14.97% | 8.09% | 51.69% | -1.01% | -65.34% | 4.35% | 48.00% | 9.56% |
| Dividend Yield | - | - | 6.78% | 7.33% | 2.21% | 2.37% | 1.97% | 1.89% | 0.98% | 2.24% | 1.96% | 1.18% |
| Net Income To Common (M) | 386,042.57 |
| (-) Cash Dividends Paid (M) | 188,697.01 |
| (=) Cash Retained (M) | 197,345.56 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 77,208.51 | 48,255.32 | 28,953.19 |
| Cash Retained (M) | 197,345.56 | 197,345.56 | 197,345.56 |
| (-) Cash Required (M) | -77,208.51 | -48,255.32 | -28,953.19 |
| (=) Excess Retained (M) | 120,137.04 | 149,090.24 | 168,392.36 |
| (/) Shares Outstanding (M) | 33.53 | 33.53 | 33.53 |
| (=) Excess Retained per Share | 3,582.62 | 4,446.04 | 5,021.65 |
| LTM Dividend per Share | 5,627.16 | 5,627.16 | 5,627.16 |
| (+) Excess Retained per Share | 3,582.62 | 4,446.04 | 5,021.65 |
| (=) Adjusted Dividend | 9,209.79 | 10,073.20 | 10,648.81 |
| WACC / Discount Rate | 12.19% | 12.19% | 12.19% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $145,341.28 | $188,700.51 | $244,333.82 |
| Upside / Downside | -20.79% | 2.83% | 33.15% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 386,042.57 | 411,135.33 | 437,859.13 | 466,319.97 | 496,630.77 | 528,911.77 | 544,779.12 |
| Payout Ratio | 48.88% | 57.10% | 65.33% | 73.55% | 81.78% | 90.00% | 92.50% |
| Projected Dividends (M) | 188,697.01 | 234,774.21 | 286,044.21 | 342,987.38 | 406,124.63 | 476,020.59 | 503,920.69 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 12.19% | 12.19% | 12.19% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 207,308.81 | 209,273.82 | 211,238.83 |
| Year 2 PV (M) | 223,032.37 | 227,280.51 | 231,568.72 |
| Year 3 PV (M) | 236,145.81 | 242,924.71 | 249,832.11 |
| Year 4 PV (M) | 246,904.38 | 256,399.63 | 266,166.14 |
| Year 5 PV (M) | 255,542.17 | 267,884.95 | 280,700.12 |
| PV of Terminal Value (M) | 2,945,177.11 | 3,087,430.26 | 3,235,127.78 |
| Equity Value (M) | 4,114,110.64 | 4,291,193.87 | 4,474,633.71 |
| Shares Outstanding (M) | 33.53 | 33.53 | 33.53 |
| Fair Value | $122,687.50 | $127,968.33 | $133,438.71 |
| Upside / Downside | -33.14% | -30.26% | -27.28% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| QFBQ.QA | Lesha Bank L.L.C | 2.69% | $0.05 | 32.62% |
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| 016800.KS | Fursys Inc. | 2.68% | $1,200.17 | 30.47% |
| 265520.KQ | Advanced Process Systems Corporation | 2.68% | $538.10 | 30.22% |
| 300896.SZ | Imeik Technology Development Co.,Ltd. | 2.68% | $3.80 | 78.17% |
| 3123.T | Saibo Co., Ltd. | 2.68% | $16.14 | 26.87% |
| 9057.T | Enshu Truck Co.,Ltd. | 2.68% | $96.08 | 31.06% |
| CHC.AX | Charter Hall Group | 2.68% | $0.65 | 53.83% |
| IFT.AX | Infratil Limited | 2.68% | $0.26 | 47.86% |
| KRZ.IR | Kerry Group plc | 2.68% | $2.04 | 27.68% |
| MGH.AX | MAAS Group Holdings Limited | 2.68% | $0.15 | 37.02% |
| NOA | North American Construction Group Ltd. | 2.68% | $0.39 | 32.95% |
| U06.SI | Singapore Land Group Limited | 2.68% | $0.09 | 24.45% |
| 000089.SZ | Shenzhen Airport Co., Ltd. | 2.67% | $0.19 | 65.57% |
| 000830.SZ | Luxi Chemical Group Co., Ltd. | 2.67% | $0.44 | 57.18% |
| 005820.KS | Wonlim Corporation | 2.67% | $399.88 | 22.01% |
| 007980.KS | TP Inc. | 2.67% | $51.62 | 7.46% |
| 049800.KS | Woojin Plaimm Co., Ltd. | 2.67% | $50.67 | 26.03% |
| 300009.SZ | Anhui Anke Biotechnology (Group) Co., Ltd. | 2.67% | $0.26 | 62.51% |
| 6220.TWO | YFC-Boneagle Electric Co., Ltd. | 2.67% | $0.69 | 89.25% |
| 002753.SZ | Shanxi Yongdong Chemistry Industry Co., Ltd. | 2.66% | $0.19 | 90.03% |
| 011200.KS | HMM Co.,Ltd | 2.66% | $537.67 | 22.84% |
| 014830.KS | UNID Company Ltd. | 2.66% | $1,782.26 | 16.95% |
| 023450.KS | Dongnam Chemical Co., Ltd. | 2.66% | $914.85 | 45.96% |
| 210540.KS | DY Power Corporation | 2.66% | $350.13 | 14.53% |
| 600729.SS | Chongqing Department Store Co.,Ltd. | 2.66% | $0.69 | 21.76% |
| 7282.T | Toyoda Gosei Co., Ltd. | 2.66% | $104.88 | 29.11% |
| 7989.T | Tachikawa Corporation | 2.66% | $52.44 | 33.02% |
| 9699.T | Nishio Rent All Co., Ltd. | 2.66% | $125.96 | 28.89% |
| 069730.KS | DSR Wire Corp | 2.65% | $99.93 | 6.22% |
| 118990.KQ | Motrex Co., Ltd | 2.65% | $249.25 | 35.67% |
| OLGERD.IC | Ölgerðin Egill Skallagrímsson hf. | 2.65% | $0.48 | 62.79% |
| 084010.KS | Daehan Steel Co., Ltd. | 2.64% | $516.54 | 29.55% |
| 0DH7.L | AF Gruppen ASA | 2.64% | $4.97 | 52.35% |
| 1504.TW | TECO Electric & Machinery Co., Ltd. | 2.64% | $2.23 | 87.91% |
| 2587.T | Suntory Beverage & Food Limited | 2.64% | $125.00 | 45.12% |
| 6922.TWO | Neousys Technology Inc. | 2.64% | $4.54 | 61.30% |
| SHR.BK | S Hotels and Resorts Public Company Limited | 2.64% | $0.05 | 33.96% |
| 002871.SZ | Qingdao Weflo Valve Co., Ltd. | 2.63% | $0.47 | 79.89% |
| 600918.SS | Zhongtai Securities Co., Ltd. | 2.63% | $0.17 | 68.20% |
| 8572.T | Acom Co., Ltd. | 2.63% | $13.00 | 38.71% |
| LIAB.ST | Lindab International AB (publ) | 2.63% | $5.40 | 76.19% |
| MYOR.JK | PT Mayora Indah Tbk | 2.63% | $57.38 | 45.12% |
| 002443.SZ | Zhejiang Kingland Pipeline and Technologies Co.,Ltd. | 2.62% | $0.21 | 64.11% |
| 039490.KS | Kiwoom Securities Co., Ltd. | 2.62% | $7,904.33 | 20.30% |
| 155660.KS | DSR Corp | 2.62% | $100.15 | 11.70% |
| 4263.SR | SAL Saudi Logistics Services Co | 2.62% | $4.23 | 55.27% |
| AFK.OL | Arendals Fossekompani ASA | 2.62% | $3.52 | 5.05% |
| INSTAL.ST | Instalco AB (publ) | 2.62% | $0.68 | 65.47% |
| 000048.SZ | Shenzhen Kingkey Smart Agriculture Times Co.,Ltd | 2.61% | $0.46 | 58.98% |