Definitive Analysis
| Stable Growth | $30,338.07 - $109,727.12 | $96,115.89 |
| Multi-Stage | $14,439.24 - $15,767.57 | $15,091.35 |
| Blended Fair Value | $55,603.62 | |
| Current Price | $4,400.00 | |
| Upside | 1,163.72% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 24.03% | 19.72% | 353.96 | 264.67 | 180.18 | 110.05 | 177.49 | 120.61 | 99.51 | 66.57 | 65.36 | 53.23 |
| YoY Growth | - | - | 33.74% | 46.89% | 63.72% | -38.00% | 47.17% | 21.20% | 49.49% | 1.84% | 22.80% | -9.03% |
| Dividend Yield | - | - | 6.81% | 3.84% | 3.49% | 2.79% | 5.77% | 5.15% | 2.68% | 1.73% | 2.23% | 2.07% |
| Net Income To Common (M) | 51,495,530.00 |
| (-) Cash Dividends Paid (M) | 43,510,539.00 |
| (=) Cash Retained (M) | 7,984,991.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 10,299,106.00 | 6,436,941.25 | 3,862,164.75 |
| Cash Retained (M) | 7,984,991.00 | 7,984,991.00 | 7,984,991.00 |
| (-) Cash Required (M) | -10,299,106.00 | -6,436,941.25 | -3,862,164.75 |
| (=) Excess Retained (M) | -2,314,115.00 | 1,548,049.75 | 4,122,826.25 |
| (/) Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| (=) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| LTM Dividend per Share | 466.19 | 466.19 | 466.19 |
| (+) Excess Retained per Share | -24.79 | 16.59 | 44.17 |
| (=) Adjusted Dividend | 441.39 | 482.77 | 510.36 |
| WACC / Discount Rate | 7.03% | 7.03% | 7.03% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $30,338.07 | $96,115.89 | $109,727.12 |
| Upside / Downside | 589.50% | 2,084.45% | 2,393.80% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 51,495,530.00 | 54,842,739.45 | 58,407,517.51 | 62,204,006.15 | 66,247,266.55 | 70,553,338.88 | 72,669,939.04 |
| Payout Ratio | 84.49% | 85.60% | 86.70% | 87.80% | 88.90% | 90.00% | 92.50% |
| Projected Dividends (M) | 43,510,539.00 | 46,942,672.33 | 50,637,150.96 | 54,613,579.03 | 58,893,000.78 | 63,498,004.99 | 67,219,693.62 |
| 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) | 43,445,533.56 | 43,857,339.56 | 44,269,145.57 |
| Year 2 PV (M) | 43,373,444.65 | 44,199,586.94 | 45,033,523.03 |
| Year 3 PV (M) | 43,294,488.80 | 44,537,317.99 | 45,803,707.22 |
| Year 4 PV (M) | 43,208,877.80 | 44,870,569.30 | 46,579,734.16 |
| Year 5 PV (M) | 43,116,818.75 | 45,199,377.22 | 47,361,640.10 |
| PV of Terminal Value (M) | 1,131,220,441.13 | 1,185,858,811.42 | 1,242,588,320.75 |
| Equity Value (M) | 1,347,659,604.69 | 1,408,523,002.43 | 1,471,636,070.83 |
| Shares Outstanding (M) | 93,333.11 | 93,333.11 | 93,333.11 |
| Fair Value | $14,439.24 | $15,091.35 | $15,767.57 |
| Upside / Downside | 228.16% | 242.99% | 258.35% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 6101.T | Tsugami Corporation | 2.08% | $59.70 | 21.18% |
| 9549.SR | Abdulaziz and Mansour Ibrahim Albabtin Co. | 2.08% | $0.50 | 29.71% |
| FPAR-A.ST | FastPartner AB (publ) | 2.08% | $0.97 | 55.03% |
| GRNG.ST | Gränges AB (publ) | 2.08% | $3.09 | 34.78% |
| ZGN | Ermenegildo Zegna N.V. | 2.08% | $0.22 | 28.26% |
| 000983.SZ | Shanxi Coking Coal Energy Group Co.,Ltd. | 2.07% | $0.13 | 44.44% |
| 006090.KS | Oyang Corporation | 2.07% | $187.55 | 43.67% |
| 0O1O.L | Vetoquinol S.A. | 2.07% | $1.74 | 19.10% |
| 1748.HK | Xin Yuan Enterprises Group Limited | 2.07% | $0.04 | 62.70% |
| 4677.KL | YTL Corporation Berhad | 2.07% | $0.04 | 26.42% |
| 603136.SS | Jiangsu Tianmu Lake Tourism Co.,Ltd | 2.07% | $0.24 | 64.23% |
| 7965.T | Zojirushi Corporation | 2.07% | $32.35 | 36.35% |
| MRSA3B.SA | MRS Logística S.A. | 2.07% | $0.81 | 18.86% |
| OCL.AX | Objective Corporation Limited | 2.07% | $0.34 | 57.76% |
| TRTN | Triton International Limited | 2.07% | $1.65 | 28.50% |
| 001219.SZ | Qingdao Foods CO.,LTD. | 2.06% | $0.29 | 55.25% |
| 002351.SZ | Edifier Technology Co., Ltd. | 2.06% | $0.25 | 53.80% |
| 004830.KS | Duksung Co., Ltd. | 2.06% | $100.30 | 19.66% |
| 600120.SS | Zhejiang Orient Financial Holdings Group Co., Ltd. | 2.06% | $0.13 | 32.28% |
| 600143.SS | Kingfa Sci. & Tech. Co., Ltd. | 2.06% | $0.40 | 85.82% |
| 7735.T | SCREEN Holdings Co., Ltd. | 2.06% | $314.43 | 32.13% |
| ALSO3.SA | Aliansce Sonae Shopping Centers S.A. | 2.06% | $0.52 | 9.27% |
| MLIA.JK | PT Mulia Industrindo Tbk | 2.06% | $6.98 | 27.72% |
| REA.AX | REA Group Limited | 2.06% | $3.81 | 51.46% |
| THEON.AS | Theon International PLC | 2.06% | $0.55 | 52.53% |
| 000902.SZ | YONFER Agricultural Technology Co., Ltd. | 2.05% | $0.32 | 26.06% |
| 002938.SZ | Avary Holding(Shenzhen)Co., Limited | 2.05% | $1.04 | 59.37% |
| 036930.KQ | JUSUNG ENGINEERING Co., Ltd. | 2.05% | $625.50 | 45.79% |
| 086280.KS | Hyundai Glovis Co., Ltd. | 2.05% | $3,700.10 | 19.97% |
| 2730.T | EDION Corporation | 2.05% | $43.41 | 30.64% |
| 4191.SR | Abdullah Saad Mohammed Abo Moati for Bookstores Company | 2.05% | $1.01 | 76.56% |
| 9527.SR | Ame Company For Medical Supplies | 2.05% | $2.00 | 27.73% |
| BMIN3.SA | Banco Mercantil de Investimentos S.A. | 2.05% | $0.47 | 28.32% |
| GUAR3.SA | Guararapes Confecções S.A. | 2.05% | $0.18 | 20.09% |
| MGROS.IS | Migros Ticaret A.S. | 2.05% | $10.88 | 31.41% |
| MLL.DE | Müller - Die lila Logistik AG | 2.05% | $0.10 | 6.76% |
| RAY-A.TO | Stingray Group Inc. | 2.05% | $0.30 | 39.32% |
| VIVA3.SA | Vivara Participações S.A. | 2.05% | $0.66 | 20.93% |
| 268280.KS | Miwon Specialty Chemical Co., Ltd. | 2.04% | $2,814.57 | 22.79% |
| 2869.HK | Greentown Service Group Co. Ltd. | 2.04% | $0.09 | 17.96% |
| 450330.KQ | Hass | 2.04% | $131.79 | 35.27% |
| 605589.SS | Jinan Shengquan Group Share Holding Co., Ltd. | 2.04% | $0.58 | 44.86% |
| CEK.DE | CeoTronics AG | 2.04% | $0.26 | 34.71% |
| CSAP.JK | PT Catur Sentosa Adiprana Tbk | 2.04% | $6.50 | 30.53% |
| ROTH.PA | Rothschild & Co SCA | 2.04% | $0.78 | 13.71% |
| 2476.TW | G-SHANK Enterprise Co., Ltd. | 2.03% | $1.85 | 49.48% |
| 2852.KL | Cahya Mata Sarawak Berhad | 2.03% | $0.03 | 28.80% |
| 3788.HK | China Hanking Holdings Limited | 2.03% | $0.08 | 36.16% |
| 4004.SR | Dallah Healthcare Company | 2.03% | $2.54 | 49.37% |
| 601607.SS | Shanghai Pharmaceuticals Holding Co., Ltd | 2.03% | $0.36 | 23.77% |