Definitive Analysis
| Stable Growth | $957,529.76 - $3,949,959.84 | $2,465,612.98 |
| Multi-Stage | $473,075.69 - $517,508.86 | $494,885.66 |
| Blended Fair Value | $1,480,249.32 | |
| Current Price | $100,700.00 | |
| Upside | 1,369.96% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 43.48% | 22.71% | 5,567.30 | 3,560.33 | 3,051.71 | 1,017.24 | 1,169.82 | 915.51 | 813.79 | 1,118.96 | 1,118.96 | 1,025.17 |
| YoY Growth | - | - | 56.37% | 16.67% | 200.00% | -13.04% | 27.78% | 12.50% | -27.27% | 0.00% | 9.15% | 42.53% |
| Dividend Yield | - | - | 6.03% | 3.28% | 3.77% | 1.37% | 1.41% | 3.52% | 2.30% | 3.61% | 3.02% | 2.12% |
| Net Income To Common (M) | 7,828,160.00 |
| (-) Cash Dividends Paid (M) | 2,559,045.00 |
| (=) Cash Retained (M) | 5,269,115.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,565,632.00 | 978,520.00 | 587,112.00 |
| Cash Retained (M) | 5,269,115.00 | 5,269,115.00 | 5,269,115.00 |
| (-) Cash Required (M) | -1,565,632.00 | -978,520.00 | -587,112.00 |
| (=) Excess Retained (M) | 3,703,483.00 | 4,290,595.00 | 4,682,003.00 |
| (/) Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| (=) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| LTM Dividend per Share | 6,492.78 | 6,492.78 | 6,492.78 |
| (+) Excess Retained per Share | 9,396.44 | 10,886.05 | 11,879.13 |
| (=) Adjusted Dividend | 15,889.22 | 17,378.83 | 18,371.91 |
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $957,529.76 | $2,465,612.98 | $3,949,959.84 |
| Upside / Downside | 850.87% | 2,348.47% | 3,822.50% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,828,160.00 | 8,336,990.40 | 8,878,894.78 | 9,456,022.94 | 10,070,664.43 | 10,725,257.62 | 11,047,015.34 |
| Payout Ratio | 32.69% | 44.15% | 55.61% | 67.08% | 78.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,559,045.00 | 3,680,964.61 | 4,937,921.81 | 6,342,731.36 | 7,909,303.44 | 9,652,731.85 | 10,218,489.19 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.25% | 7.25% | 7.25% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,399,887.19 | 3,432,113.61 | 3,464,340.03 |
| Year 2 PV (M) | 4,212,597.23 | 4,292,835.38 | 4,373,830.48 |
| Year 3 PV (M) | 4,997,869.50 | 5,141,340.37 | 5,287,530.99 |
| Year 4 PV (M) | 5,756,383.19 | 5,977,757.45 | 6,205,456.21 |
| Year 5 PV (M) | 6,488,802.64 | 6,802,214.24 | 7,127,620.83 |
| PV of Terminal Value (M) | 161,601,094.57 | 169,406,487.86 | 177,510,611.93 |
| Equity Value (M) | 186,456,634.33 | 195,052,748.90 | 203,969,390.47 |
| Shares Outstanding (M) | 394.14 | 394.14 | 394.14 |
| Fair Value | $473,075.69 | $494,885.66 | $517,508.86 |
| Upside / Downside | 369.79% | 391.45% | 413.91% |
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|---|---|---|---|---|
| 017810.KS | Pulmuone Co., Ltd. | 2.55% | $331.61 | 65.57% |
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| 3152.TWO | Advanced Ceramic X Corporation | 2.55% | $3.66 | 36.41% |
| 600415.SS | Zhejiang China Commodities City Group Co., Ltd. | 2.55% | $0.41 | 53.66% |
| 601808.SS | China Oilfield Services Limited | 2.55% | $0.36 | 43.75% |
| 7606.T | United Arrows Ltd. | 2.55% | $62.63 | 43.42% |
| CYRE3.SA | Cyrela Brazil Realty S.A. Empreendimentos e Participações | 2.55% | $0.61 | 12.29% |
| JUNGH.SW | Jungheinrich AG | 2.55% | $0.79 | 22.62% |
| RENT3.SA | Localiza Rent a Car S.A. | 2.55% | $1.11 | 66.67% |
| 002380.KS | KCC Corporation | 2.54% | $10,000.23 | 6.25% |
| 1527.HK | Zhejiang Tengy Environmental Technology Co., Ltd | 2.54% | $0.05 | 4.95% |
| 5212.KL | Pavilion Real Estate Investment Trust | 2.54% | $0.05 | 39.63% |
| 5489.TWO | DynaColor, Inc. | 2.54% | $1.02 | 50.42% |
| 600273.SS | Zhejiang Jiahua Energy Chemical Industry Co.,Ltd. | 2.54% | $0.22 | 28.18% |
| 600724.SS | Ningbo Fuda Company Limited | 2.54% | $0.15 | 96.79% |
| 7505.T | Fuso Dentsu Co., Ltd. | 2.54% | $48.50 | 22.36% |
| 8850.T | Starts Corporation Inc. | 2.54% | $121.52 | 25.36% |
| BLAU3.SA | Blau Farmacêutica S.A. | 2.54% | $0.35 | 19.81% |
| 2367.HK | Giant Biogene Holding Co., Ltd. | 2.53% | $0.87 | 22.55% |
| 2701.TW | Wan Hwa Enterprise Company Ltd. | 2.53% | $0.28 | 52.89% |
| 600963.SS | Yueyang Forest & Paper Co., Ltd. | 2.53% | $0.12 | 48.95% |
| 603697.SS | YouYou Foods Co., Ltd. | 2.53% | $0.31 | 63.16% |
| CK-R.BK | CH. Karnchang Public Company Limited | 2.53% | $0.30 | 25.56% |
| SCHO.CO | Aktieselskabet Schouw & Co. | 2.53% | $16.81 | 42.51% |
| 003006.SZ | Chongqing Baiya Sanitary Products Co., Ltd. | 2.52% | $0.55 | 80.44% |
| 5191.T | Sumitomo Riko Company Limited | 2.52% | $66.01 | 23.54% |
| 600406.SS | NARI Technology Co., Ltd. | 2.52% | $0.57 | 56.63% |
| 600909.SS | Huaan Securities Co., Ltd. | 2.52% | $0.17 | 38.30% |
| 603811.SS | Zhejiang Cheng Yi Pharmaceutical Co., Ltd. | 2.52% | $0.26 | 37.15% |
| BESALCO.SN | Besalco S.A. | 2.52% | $30.59 | 34.76% |
| 000019.SZ | Shenzhen Cereals Holdings Co., Ltd. | 2.51% | $0.17 | 62.11% |
| 094820.KQ | Iljin Power Co., Ltd. | 2.51% | $320.01 | 48.44% |
| 0QVR.L | Scandi Standard AB (publ) | 2.51% | $2.49 | 52.58% |
| 4041.T | Nippon Soda Co., Ltd. | 2.51% | $90.77 | 32.02% |
| 600056.SS | China Meheco Group Co., Ltd. | 2.51% | $0.26 | 71.36% |
| 605169.SS | Xinjiang Hongtong Natural Gas Co., Ltd. | 2.51% | $0.33 | 91.06% |
| 6691.TW | Yankey Engineering Co., Ltd. | 2.51% | $13.92 | 62.80% |
| 7483.T | Doshisha Co.,Ltd. | 2.51% | $82.93 | 37.87% |
| GPSC-R.BK | Global Power Synergy Public Company Limited | 2.51% | $0.90 | 51.48% |
| HOVE.CO | Hove A/S | 2.51% | $0.14 | 34.71% |
| NOLA-B.ST | Nolato AB (publ) | 2.51% | $1.50 | 51.20% |
| 0QNH.L | Huber+Suhner AG | 2.50% | $3.61 | 49.61% |
| 100840.KS | SNT Energy Co., Ltd. | 2.50% | $899.87 | 27.57% |
| 138490.KS | Kolon Plastics, Inc. | 2.50% | $200.40 | 17.45% |
| 2612.T | Kadoya Sesame Mills Incorporated | 2.50% | $99.85 | 34.73% |
| 603112.SS | Shanxi Huaxiang Group Co., Ltd. | 2.50% | $0.43 | 43.19% |
| 603766.SS | Loncin Motor Co., Ltd. | 2.50% | $0.40 | 45.87% |
| ISCTR.IS | Türkiye Is Bankasi A.S. | 2.50% | $0.36 | 16.38% |
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