Definitive Analysis
| Stable Growth | $212,638.11 - $844,097.38 | $577,685.58 |
| Multi-Stage | $104,256.78 - $113,973.56 | $109,026.53 |
| Blended Fair Value | $343,356.05 | |
| Current Price | $26,775.00 | |
| Upside | 1,182.38% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.99% | 15.07% | 2,235.27 | 6,883.97 | 1,752.66 | 829.66 | 1,002.11 | 1,269.08 | 1,002.11 | 693.06 | 598.60 | 817.30 |
| YoY Growth | - | - | -67.53% | 292.77% | 111.25% | -17.21% | -21.04% | 26.64% | 44.59% | 15.78% | -26.76% | 48.78% |
| Dividend Yield | - | - | 9.49% | 28.65% | 6.02% | 3.25% | 4.53% | 7.51% | 3.68% | 2.17% | 2.26% | 5.34% |
| Net Income To Common (M) | 15,414,710.00 |
| (-) Cash Dividends Paid (M) | 7,808,837.00 |
| (=) Cash Retained (M) | 7,605,873.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,082,942.00 | 1,926,838.75 | 1,156,103.25 |
| Cash Retained (M) | 7,605,873.00 | 7,605,873.00 | 7,605,873.00 |
| (-) Cash Required (M) | -3,082,942.00 | -1,926,838.75 | -1,156,103.25 |
| (=) Excess Retained (M) | 4,522,931.00 | 5,679,034.25 | 6,449,769.75 |
| (/) Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| (=) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| LTM Dividend per Share | 2,150.12 | 2,150.12 | 2,150.12 |
| (+) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| (=) Adjusted Dividend | 3,395.49 | 3,713.82 | 3,926.03 |
| WACC / Discount Rate | 7.18% | 7.18% | 7.18% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $212,638.11 | $577,685.58 | $844,097.38 |
| Upside / Downside | 694.17% | 2,057.56% | 3,052.56% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 15,414,710.00 | 16,416,666.15 | 17,483,749.45 | 18,620,193.16 | 19,830,505.72 | 21,119,488.59 | 21,753,073.25 |
| Payout Ratio | 50.66% | 58.53% | 66.40% | 74.26% | 82.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 7,808,837.00 | 9,608,129.03 | 11,608,336.69 | 13,827,977.00 | 16,287,125.33 | 19,007,539.73 | 20,121,592.76 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.18% | 7.18% | 7.18% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,879,919.35 | 8,964,089.20 | 9,048,259.05 |
| Year 2 PV (M) | 9,915,403.34 | 10,104,263.92 | 10,294,906.21 |
| Year 3 PV (M) | 10,916,143.40 | 11,229,506.65 | 11,548,810.26 |
| Year 4 PV (M) | 11,882,975.91 | 12,339,961.62 | 12,810,003.10 |
| Year 5 PV (M) | 12,816,719.51 | 13,435,771.85 | 14,078,516.79 |
| PV of Terminal Value (M) | 324,229,533.20 | 339,889,940.88 | 356,149,709.24 |
| Equity Value (M) | 378,640,694.69 | 395,963,534.13 | 413,930,204.64 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $104,256.78 | $109,026.53 | $113,973.56 |
| Upside / Downside | 289.38% | 307.20% | 325.67% |
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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% |