Definitive Analysis
| Stable Growth | $1,345,881.29 - $1,585,774.03 | $1,486,057.09 |
| Multi-Stage | $486,100.53 - $533,213.44 | $509,217.74 |
| Blended Fair Value | $997,637.42 | |
| Current Price | $98,500.00 | |
| Upside | 912.83% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -17.73% | -2.30% | 1,363.73 | 1,313.22 | 1,262.57 | 1,212.07 | 0.00 | 3,618.34 | 3,214.20 | 5,696.73 | 2,896.04 | 2,065.17 |
| YoY Growth | - | - | 3.85% | 4.01% | 4.17% | 0.00% | -100.00% | 12.57% | -43.58% | 96.71% | 40.23% | 20.01% |
| Dividend Yield | - | - | 1.68% | 2.30% | 2.40% | 1.77% | 0.00% | 6.26% | 3.37% | 6.34% | 3.01% | 2.14% |
| Net Income To Common (M) | 574,642.38 |
| (-) Cash Dividends Paid (M) | 189,121.02 |
| (=) Cash Retained (M) | 385,521.36 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 114,928.48 | 71,830.30 | 43,098.18 |
| Cash Retained (M) | 385,521.36 | 385,521.36 | 385,521.36 |
| (-) Cash Required (M) | -114,928.48 | -71,830.30 | -43,098.18 |
| (=) Excess Retained (M) | 270,592.88 | 313,691.06 | 342,423.18 |
| (/) Shares Outstanding (M) | 71.83 | 71.83 | 71.83 |
| (=) Excess Retained per Share | 3,766.96 | 4,366.93 | 4,766.92 |
| LTM Dividend per Share | 2,632.78 | 2,632.78 | 2,632.78 |
| (+) Excess Retained per Share | 3,766.96 | 4,366.93 | 4,766.92 |
| (=) Adjusted Dividend | 6,399.74 | 6,999.71 | 7,399.70 |
| WACC / Discount Rate | 4.70% | 4.70% | 4.70% |
| Growth Rate | 5.15% | 6.15% | 7.15% |
| Fair Value | $1,345,881.29 | $1,486,057.09 | $1,585,774.03 |
| Upside / Downside | 1,266.38% | 1,408.69% | 1,509.92% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 574,642.38 | 609,990.34 | 647,512.67 | 687,343.10 | 729,623.62 | 774,504.94 | 797,740.09 |
| Payout Ratio | 32.91% | 44.33% | 55.75% | 67.16% | 78.58% | 90.00% | 92.50% |
| Projected Dividends (M) | 189,121.02 | 270,401.80 | 360,966.61 | 461,650.09 | 573,354.41 | 697,054.45 | 737,909.59 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 4.70% | 4.70% | 4.70% |
| Growth Rate | 5.15% | 6.15% | 7.15% |
| Year 1 PV (M) | 255,836.84 | 258,269.87 | 260,702.91 |
| Year 2 PV (M) | 323,127.59 | 329,302.77 | 335,536.40 |
| Year 3 PV (M) | 390,997.01 | 402,258.71 | 413,734.59 |
| Year 4 PV (M) | 459,448.86 | 477,177.39 | 495,414.11 |
| Year 5 PV (M) | 528,486.90 | 554,099.28 | 580,695.18 |
| PV of Terminal Value (M) | 32,960,283.72 | 34,557,657.52 | 36,216,371.21 |
| Equity Value (M) | 34,918,180.92 | 36,578,765.54 | 38,302,454.39 |
| Shares Outstanding (M) | 71.83 | 71.83 | 71.83 |
| Fair Value | $486,100.53 | $509,217.74 | $533,213.44 |
| Upside / Downside | 393.50% | 416.97% | 441.33% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| QFBQ.QA | Lesha Bank L.L.C | 2.69% | $0.05 | 32.62% |
| 002442.SZ | Longxing Chemical Stock Co., Ltd. | 2.68% | $0.17 | 99.79% |
| 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% |