Definitive Analysis
| Stable Growth | $65,639.37 - $160,490.57 | $150,403.16 |
| Multi-Stage | $23,593.78 - $25,811.55 | $24,682.34 |
| Blended Fair Value | $87,542.75 | |
| Current Price | $5,775.00 | |
| Upside | 1,415.89% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 19.71% | 9.16% | 518.68 | 649.57 | 281.82 | 131.91 | 183.90 | 211.00 | 189.88 | 167.92 | 167.89 | 215.86 |
| YoY Growth | - | - | -20.15% | 130.49% | 113.65% | -28.27% | -12.84% | 11.12% | 13.08% | 0.01% | -22.22% | 0.00% |
| Dividend Yield | - | - | 10.54% | 12.49% | 4.70% | 2.01% | 3.49% | 5.41% | 2.61% | 2.30% | 1.95% | 2.98% |
| Net Income To Common (M) | 32,670,000.00 |
| (-) Cash Dividends Paid (M) | 16,426,000.00 |
| (=) Cash Retained (M) | 16,244,000.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 6,534,000.00 | 4,083,750.00 | 2,450,250.00 |
| Cash Retained (M) | 16,244,000.00 | 16,244,000.00 | 16,244,000.00 |
| (-) Cash Required (M) | -6,534,000.00 | -4,083,750.00 | -2,450,250.00 |
| (=) Excess Retained (M) | 9,710,000.00 | 12,160,250.00 | 13,793,750.00 |
| (/) Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| (=) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| LTM Dividend per Share | 405.74 | 405.74 | 405.74 |
| (+) Excess Retained per Share | 239.85 | 300.37 | 340.72 |
| (=) Adjusted Dividend | 645.59 | 706.12 | 746.47 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $65,639.37 | $150,403.16 | $160,490.57 |
| Upside / Downside | 1,036.61% | 2,504.38% | 2,679.06% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 32,670,000.00 | 34,793,550.00 | 37,055,130.75 | 39,463,714.25 | 42,028,855.67 | 44,760,731.29 | 46,103,553.23 |
| Payout Ratio | 50.28% | 58.22% | 66.17% | 74.11% | 82.06% | 90.00% | 92.50% |
| Projected Dividends (M) | 16,426,000.00 | 20,257,791.00 | 24,518,314.98 | 29,247,117.91 | 34,487,075.34 | 40,284,658.16 | 42,645,786.74 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 18,836,137.83 | 19,014,679.42 | 19,193,221.01 |
| Year 2 PV (M) | 21,197,769.57 | 21,601,527.54 | 22,009,094.55 |
| Year 3 PV (M) | 23,511,611.47 | 24,186,545.34 | 24,874,273.78 |
| Year 4 PV (M) | 25,778,370.40 | 26,769,733.77 | 27,789,419.71 |
| Year 5 PV (M) | 27,998,744.02 | 29,351,093.83 | 30,755,201.24 |
| PV of Terminal Value (M) | 837,840,160.32 | 878,308,153.35 | 920,324,951.72 |
| Equity Value (M) | 955,162,793.61 | 999,231,733.25 | 1,044,946,162.02 |
| Shares Outstanding (M) | 40,483.66 | 40,483.66 | 40,483.66 |
| Fair Value | $23,593.78 | $24,682.34 | $25,811.55 |
| Upside / Downside | 308.55% | 327.40% | 346.95% |
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|---|---|---|---|---|
| 0316.HK | Orient Overseas (International) Limited | 2.19% | $2.79 | 48.77% |
| 3109.T | Shikibo Ltd. | 2.19% | $22.89 | 30.55% |
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| 4516.T | Nippon Shinyaku Co., Ltd. | 2.19% | $123.87 | 26.14% |
| 4617.T | Chugoku Marine Paints, Ltd. | 2.19% | $96.72 | 42.42% |
| 600051.SS | Ningbo United Group Co.,Ltd. | 2.19% | $0.17 | 55.08% |
| 603799.SS | Zhejiang Huayou Cobalt Co., Ltd | 2.19% | $1.49 | 48.01% |
| 7233.KL | Dufu Technology Corp. Berhad | 2.19% | $0.04 | 95.65% |
| 9064.T | Yamato Holdings Co., Ltd. | 2.19% | $48.33 | 36.15% |
| 9948.T | ARCS Company Limited | 2.19% | $74.01 | 33.92% |
| 000049.SZ | Shenzhen Desay Battery Technology Co., Ltd. | 2.18% | $0.59 | 54.00% |
| 000153.SZ | Anhui Fengyuan Pharmaceutical Co., Ltd. | 2.18% | $0.14 | 55.80% |
| 002237.SZ | Shandong Humon Smelting Co., Ltd. | 2.18% | $0.29 | 61.47% |
| 002626.SZ | Xiamen Kingdomway Group Company | 2.18% | $0.43 | 54.26% |
| 2468.TW | Fortune Information Systems Corp | 2.18% | $0.90 | 78.36% |
| 300815.SZ | EIT Environmental Development Group Co.,Ltd | 2.18% | $0.50 | 38.67% |
| 300910.SZ | Xinxiang Richful Lube Additive Co., Ltd | 2.18% | $1.23 | 45.00% |
| 4908.TWO | APAC Opto Electronics Inc. | 2.18% | $1.74 | 72.09% |
| 601369.SS | Xi'an Shaangu Power Co., Ltd. | 2.18% | $0.22 | 37.55% |
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| SHANG.BK | Shangri-La Hotel Public Company Limited | 2.15% | $1.00 | 56.93% |
| VZUG.SW | V-ZUG Holding AG | 2.15% | $0.91 | 19.03% |
| WTIF.SG | WisdomTree Japan Equity UCITS ETF | 2.15% | $0.98 | 91.42% |
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