Definitive Analysis
| Stable Growth | $30,787.28 - $111,321.37 | $97,589.00 |
| Multi-Stage | $14,458.79 - $15,799.24 | $15,116.81 |
| Blended Fair Value | $56,352.91 | |
| Current Price | $4,120.00 | |
| Upside | 1,267.79% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.74% | 14.43% | 280.46 | 196.50 | 73.09 | 22.00 | 103.18 | 100.70 | 127.85 | 106.46 | 60.81 | 72.31 |
| YoY Growth | - | - | 42.73% | 168.84% | 232.23% | -78.68% | 2.46% | -21.23% | 20.09% | 75.07% | -15.91% | -0.76% |
| Dividend Yield | - | - | 6.61% | 3.48% | 1.56% | 0.53% | 3.60% | 5.27% | 2.72% | 2.45% | 1.88% | 2.78% |
| Net Income To Common (M) | 20,866,036.00 |
| (-) Cash Dividends Paid (M) | 13,951,339.00 |
| (=) Cash Retained (M) | 6,914,697.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,173,207.20 | 2,608,254.50 | 1,564,952.70 |
| Cash Retained (M) | 6,914,697.00 | 6,914,697.00 | 6,914,697.00 |
| (-) Cash Required (M) | -4,173,207.20 | -2,608,254.50 | -1,564,952.70 |
| (=) Excess Retained (M) | 2,741,489.80 | 4,306,442.50 | 5,349,744.30 |
| (/) Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| (=) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| LTM Dividend per Share | 374.26 | 374.26 | 374.26 |
| (+) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| (=) Adjusted Dividend | 447.80 | 489.79 | 517.77 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,787.28 | $97,589.00 | $111,321.37 |
| Upside / Downside | 647.26% | 2,268.67% | 2,601.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 20,866,036.00 | 22,222,328.34 | 23,666,779.68 | 25,205,120.36 | 26,843,453.18 | 28,588,277.64 | 29,445,925.97 |
| Payout Ratio | 66.86% | 71.49% | 76.12% | 80.74% | 85.37% | 90.00% | 92.50% |
| Projected Dividends (M) | 13,951,339.00 | 15,886,559.93 | 18,014,415.17 | 20,351,770.88 | 22,916,871.93 | 25,729,449.88 | 27,237,481.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 14,703,099.48 | 14,842,465.35 | 14,981,831.22 |
| Year 2 PV (M) | 15,430,437.07 | 15,724,343.56 | 16,021,022.75 |
| Year 3 PV (M) | 16,133,897.56 | 16,597,043.78 | 17,068,969.76 |
| Year 4 PV (M) | 16,814,016.07 | 17,460,635.68 | 18,125,728.75 |
| Year 5 PV (M) | 17,471,317.31 | 18,315,188.47 | 19,191,356.56 |
| PV of Terminal Value (M) | 458,428,274.22 | 480,570,531.28 | 503,560,224.64 |
| Equity Value (M) | 538,981,041.71 | 563,510,208.11 | 588,949,133.68 |
| Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| Fair Value | $14,458.79 | $15,116.81 | $15,799.24 |
| Upside / Downside | 250.94% | 266.91% | 283.48% |
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|---|---|---|---|---|
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| 0O2W.L | GFT Technologies SE | 2.61% | $0.50 | 37.28% |
| 4332.SR | Jadwa REIT Al Haramain Fund | 2.61% | $0.13 | 13.56% |
| 603713.SS | Milkyway Chemical Supply Chain Service Co., Ltd. | 2.61% | $1.45 | 40.70% |
| 7743.T | SEED Co.,Ltd. | 2.61% | $14.99 | 32.99% |
| GBF.DE | Bilfinger SE | 2.61% | $2.87 | 57.97% |
| SMTO3.SA | São Martinho S.A. | 2.61% | $0.39 | 25.61% |
| TURSG.IS | Türkiye Sigorta Anonim Sirketi | 2.61% | $0.30 | 17.12% |
| 015230.KS | Daechang Forging Co., Ltd. | 2.60% | $159.78 | 12.73% |
| 300761.SZ | Jiangsu Lihua Animal Husbandry Co., Ltd. | 2.60% | $0.54 | 69.75% |
| 3257.TW | Champion Microelectronic Corporation | 2.60% | $1.80 | 83.24% |
| 000028.SZ | China National Accord Medicines Corporation Ltd. | 2.59% | $0.63 | 66.16% |
| 000423.SZ | Dong-E-E-Jiao Co.,Ltd. | 2.59% | $1.27 | 48.72% |
| 002375.SZ | Zhejiang Yasha Decoration Co.,Ltd | 2.59% | $0.10 | 39.98% |
| 002508.SZ | Hangzhou Robam Appliances Co., Ltd. | 2.59% | $0.50 | 30.91% |
| 035510.KS | SHINSEGAE Information & Communication Co., Ltd. | 2.59% | $430.09 | 12.26% |
| 4732.T | USS Co., Ltd. | 2.59% | $44.46 | 52.49% |
| 600623.SS | Shanghai Huayi Group Corporation Limited | 2.59% | $0.20 | 60.15% |
| 603367.SS | Cisen Pharmaceutical Co., Ltd. | 2.59% | $0.45 | 41.25% |
| 6794.T | Foster Electric Company, Limited | 2.59% | $70.19 | 37.70% |
| ORNAV.HE | Orion Oyj | 2.59% | $1.63 | 73.31% |
| 0027.HK | Galaxy Entertainment Group Limited | 2.58% | $1.00 | 24.37% |
| 0MKP.L | Strabag SE | 2.58% | $2.08 | 29.10% |
| 1586.HK | China Leon Inspection Holding Limited | 2.58% | $0.06 | 21.58% |
| 3612.T | World Co., Ltd. | 2.58% | $79.81 | 24.01% |
| 5334.T | Niterra Co., Ltd. | 2.58% | $178.09 | 36.87% |
| 601137.SS | Ningbo Boway Alloy Material Company Limited | 2.58% | $0.55 | 43.16% |
| 688355.SS | Suzhou Mingzhi Technology Co., Ltd. | 2.58% | $0.46 | 98.88% |
| ASAI.L | ASA International Group PLC | 2.58% | $5.05 | 31.55% |
| DEK.WA | Dekpol S.A. | 2.58% | $2.39 | 17.66% |
| PNGO.JK | PT PINAGO UTAMA Tbk | 2.58% | $80.26 | 21.28% |
| 600999.SS | China Merchants Securities Co., Ltd. | 2.57% | $0.43 | 30.69% |
| 605338.SS | Zhongyin Babi Food Co., Ltd. | 2.57% | $0.80 | 67.91% |
| ARB.AX | ARB Corporation Limited | 2.57% | $0.82 | 34.10% |
| ERWPF.BK | Erawan Hotel Growth Property Fund | 2.57% | $0.23 | 22.08% |
| HLUN-A.CO | H. Lundbeck A/S | 2.57% | $0.95 | 24.76% |
| KVT.WA | Krynica Vitamin S.A. | 2.57% | $0.27 | 25.50% |
| UNIQ.BK | Unique Engineering and Construction Public Company Limited | 2.57% | $0.07 | 7.66% |
| 004710.KS | Hansol Technics Co., Ltd. | 2.56% | $150.48 | 26.54% |
| 1714.TW | Ho Tung Chemical Corp. | 2.56% | $0.21 | 47.53% |
| 300880.SZ | Ningbo Jianan Electronics Co.,Ltd | 2.56% | $0.45 | 98.75% |
| 383220.KS | F&F Co., Ltd | 2.56% | $1,700.27 | 19.00% |
| 603227.SS | Xinjiang Xuefeng Sci-Tech(Group)Co.,Ltd | 2.56% | $0.21 | 49.65% |
| 605507.SS | Guobang Pharma Ltd. | 2.56% | $0.63 | 40.20% |
| 9319.T | Chuo Warehouse Co.,Ltd. | 2.56% | $36.64 | 36.47% |
| ANA.MC | Acciona, S.A. | 2.56% | $4.88 | 31.97% |
| GGAL.BA | Grupo Financiero Galicia S.A. | 2.56% | $213.91 | 37.51% |
| HOFI.ST | Hoist Finance AB (publ) | 2.56% | $2.93 | 25.50% |
| P52.SI | Pan-United Corporation Ltd | 2.56% | $0.03 | 48.81% |