Definitive Analysis
| Stable Growth | $9,068.65 - $28,489.68 | $26,699.00 |
| Multi-Stage | $3,876.75 - $4,238.50 | $4,054.32 |
| Blended Fair Value | $15,376.66 | |
| Current Price | $1,750.00 | |
| Upside | 778.67% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | 0.00% | 67.09 | 63.92 | 62.01 | 294.53 | 0.00 | 0.00 | 12.30 | 11.99 | 0.00 | 0.00 |
| YoY Growth | - | - | 4.97% | 3.07% | -78.94% | 0.00% | 0.00% | -100.00% | 2.56% | 0.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 4.61% | 2.31% | 0.89% | 5.69% | 0.00% | 0.00% | 0.51% | 0.25% | 0.00% | 0.00% |
| Net Income To Common (M) | 4,620,064.00 |
| (-) Cash Dividends Paid (M) | 2,702,398.00 |
| (=) Cash Retained (M) | 1,917,666.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 924,012.80 | 577,508.00 | 346,504.80 |
| Cash Retained (M) | 1,917,666.00 | 1,917,666.00 | 1,917,666.00 |
| (-) Cash Required (M) | -924,012.80 | -577,508.00 | -346,504.80 |
| (=) Excess Retained (M) | 993,653.20 | 1,340,158.00 | 1,571,161.20 |
| (/) Shares Outstanding (M) | 32,250.81 | 32,250.81 | 32,250.81 |
| (=) Excess Retained per Share | 30.81 | 41.55 | 48.72 |
| LTM Dividend per Share | 83.79 | 83.79 | 83.79 |
| (+) Excess Retained per Share | 30.81 | 41.55 | 48.72 |
| (=) Adjusted Dividend | 114.60 | 125.35 | 132.51 |
| WACC / Discount Rate | 6.83% | 6.83% | 6.83% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $9,068.65 | $26,699.00 | $28,489.68 |
| Upside / Downside | 418.21% | 1,425.66% | 1,527.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 4,620,064.00 | 4,920,368.16 | 5,240,192.09 | 5,580,804.58 | 5,943,556.87 | 6,329,888.07 | 6,519,784.71 |
| Payout Ratio | 58.49% | 64.79% | 71.10% | 77.40% | 83.70% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,702,398.00 | 3,188,109.36 | 3,725,545.58 | 4,319,378.73 | 4,974,669.77 | 5,696,899.26 | 6,030,800.86 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.83% | 6.83% | 6.83% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 2,956,171.83 | 2,984,192.42 | 3,012,213.01 |
| Year 2 PV (M) | 3,203,190.80 | 3,264,202.59 | 3,325,789.96 |
| Year 3 PV (M) | 3,443,583.97 | 3,542,436.89 | 3,643,163.74 |
| Year 4 PV (M) | 3,677,478.24 | 3,818,903.68 | 3,964,369.54 |
| Year 5 PV (M) | 3,904,998.39 | 4,093,611.28 | 4,289,442.82 |
| PV of Terminal Value (M) | 107,842,916.48 | 113,051,769.67 | 118,459,977.93 |
| Equity Value (M) | 125,028,339.72 | 130,755,116.52 | 136,694,957.00 |
| Shares Outstanding (M) | 32,250.81 | 32,250.81 | 32,250.81 |
| Fair Value | $3,876.75 | $4,054.32 | $4,238.50 |
| Upside / Downside | 121.53% | 131.68% | 142.20% |
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|---|---|---|---|---|
| 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% |
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| 039490.KS | Kiwoom Securities Co., Ltd. | 2.62% | $7,904.33 | 20.30% |
| 155660.KS | DSR Corp | 2.62% | $100.15 | 11.70% |
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| 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% |