Definitive Analysis
| Stable Growth | $8,698.10 - $18,495.82 | $12,359.51 |
| Multi-Stage | $6,745.08 - $7,345.30 | $7,039.85 |
| Blended Fair Value | $9,699.68 | |
| Current Price | $8,675.00 | |
| Upside | 11.81% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 31.34% | 27.21% | 277.51 | 212.51 | 155.01 | 111.40 | 110.60 | 71.00 | 52.00 | 42.00 | 35.00 | 30.60 |
| YoY Growth | - | - | 30.59% | 37.10% | 39.14% | 0.72% | 55.77% | 36.54% | 23.81% | 20.00% | 14.38% | 22.40% |
| Dividend Yield | - | - | 3.26% | 2.16% | 1.77% | 1.40% | 1.78% | 1.29% | 0.95% | 0.90% | 1.06% | 1.15% |
| Net Income To Common (M) | 56,976,535.00 |
| (-) Cash Dividends Paid (M) | 36,982,515.00 |
| (=) Cash Retained (M) | 19,994,020.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 11,395,307.00 | 7,122,066.88 | 4,273,240.13 |
| Cash Retained (M) | 19,994,020.00 | 19,994,020.00 | 19,994,020.00 |
| (-) Cash Required (M) | -11,395,307.00 | -7,122,066.88 | -4,273,240.13 |
| (=) Excess Retained (M) | 8,598,713.00 | 12,871,953.13 | 15,720,779.88 |
| (/) Shares Outstanding (M) | 123,270.28 | 123,270.28 | 123,270.28 |
| (=) Excess Retained per Share | 69.75 | 104.42 | 127.53 |
| LTM Dividend per Share | 300.01 | 300.01 | 300.01 |
| (+) Excess Retained per Share | 69.75 | 104.42 | 127.53 |
| (=) Adjusted Dividend | 369.77 | 404.43 | 427.54 |
| WACC / Discount Rate | 9.98% | 9.98% | 9.98% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $8,698.10 | $12,359.51 | $18,495.82 |
| Upside / Downside | 0.27% | 42.47% | 113.21% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 56,976,535.00 | 60,680,009.78 | 64,624,210.41 | 68,824,784.09 | 73,298,395.05 | 78,062,790.73 | 80,404,674.45 |
| Payout Ratio | 64.91% | 69.93% | 74.94% | 79.96% | 84.98% | 90.00% | 92.50% |
| Projected Dividends (M) | 36,982,515.00 | 42,431,504.54 | 48,432,611.59 | 55,034,589.46 | 62,290,196.66 | 70,256,511.66 | 74,374,323.87 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.98% | 9.98% | 9.98% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 38,217,132.50 | 38,579,380.20 | 38,941,627.90 |
| Year 2 PV (M) | 39,289,565.08 | 40,037,920.94 | 40,793,336.76 |
| Year 3 PV (M) | 40,210,986.84 | 41,365,299.76 | 42,541,494.75 |
| Year 4 PV (M) | 40,991,930.25 | 42,568,364.21 | 44,189,835.78 |
| Year 5 PV (M) | 41,642,319.94 | 43,653,659.56 | 45,741,977.89 |
| PV of Terminal Value (M) | 631,116,114.85 | 661,599,259.19 | 693,249,065.20 |
| Equity Value (M) | 831,468,049.46 | 867,803,883.86 | 905,457,338.28 |
| Shares Outstanding (M) | 123,270.28 | 123,270.28 | 123,270.28 |
| Fair Value | $6,745.08 | $7,039.85 | $7,345.30 |
| Upside / Downside | -22.25% | -18.85% | -15.33% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| TCN | Tricon Residential Inc. | 1.98% | $0.22 | 53.83% |
| 000617.SZ | CNPC Capital Company Limited | 1.97% | $0.19 | 55.65% |
| 013580.KS | Kyeryong Construction Industrial Co., Ltd. | 1.97% | $399.95 | 6.19% |
| 600033.SS | Fujian Expressway Development Co.,Ltd | 1.97% | $0.08 | 27.53% |
| 603337.SS | Jack Technology Co.,Ltd | 1.97% | $0.85 | 44.29% |
| 603338.SS | Zhejiang Dingli Machinery Co.,Ltd | 1.97% | $1.12 | 32.10% |
| 605090.SS | Jiangxi Jovo Energy Co., Ltd | 1.97% | $0.85 | 42.14% |
| DEZ.DE | Deutz AG | 1.97% | $0.17 | 99.16% |
| KEJU.JK | PT Mulia Boga Raya Tbk | 1.97% | $13.00 | 42.56% |
| LOGN.SW | Logitech International S.A. | 1.97% | $1.60 | 36.80% |
| NTSC.BK | Nutrition SC Public Company Limited | 1.97% | $0.12 | 13.98% |
| 000220.KS | Yuyu Pharma, Inc. | 1.96% | $89.74 | 31.97% |
| 000862.SZ | Ning Xia Yin Xing Energy Co.,Ltd | 1.96% | $0.11 | 78.53% |
| 001333.SZ | Zhejiang Guanghua Technology Co., Ltd. | 1.96% | $0.42 | 41.57% |
| 002926.SZ | HUAXI Securities Co., Ltd. | 1.96% | $0.18 | 31.11% |
| 0QMI.L | SGS S.A. | 1.96% | $1.66 | 31.21% |
| 0R4W.L | Multitude SE | 1.96% | $0.12 | 19.36% |
| 183300.KQ | KoMiCo Ltd. | 1.96% | $1,854.56 | 32.39% |
| 600031.SS | Sany Heavy Industry Co., Ltd | 1.96% | $0.41 | 42.56% |
| 600449.SS | Ningxia Building Materials Group Co.,Ltd | 1.96% | $0.24 | 39.64% |
| 603477.SS | Leshan Giantstar Farming&Husbandry Corporation Limited | 1.96% | $0.34 | 45.55% |
| 603650.SS | Red Avenue New Materials Group Co., Ltd. | 1.96% | $0.86 | 89.92% |
| EQB.TO | EQB Inc. | 1.96% | $2.05 | 22.50% |
| EVROF.AT | Evrofarma S.A. | 1.96% | $0.07 | 25.28% |
| HAGA.IC | Hagar hf | 1.96% | $2.30 | 34.34% |
| INISS-B.ST | Inission AB (publ) | 1.96% | $0.98 | 55.65% |
| TWPC.BK | Thai Wah Public Company Limited | 1.96% | $0.06 | 32.91% |
| 001358.SZ | Shaoxing Xingxin New Materials Co Ltd | 1.95% | $0.50 | 95.37% |
| 003039.SZ | Guangdong Shunkong Development Co.,Ltd. | 1.95% | $0.31 | 70.47% |
| 267250.KS | HD Hyundai Co., Ltd. | 1.95% | $3,599.87 | 49.88% |
| 4553.T | Towa Pharmaceutical Co., Ltd. | 1.95% | $71.04 | 16.94% |
| 688236.SS | Beijing Chunlizhengda Medical Instruments Co., Ltd. | 1.95% | $0.45 | 66.78% |
| MIDI.JK | PT Midi Utama Indonesia Tbk | 1.95% | $7.35 | 36.66% |
| 002662.SZ | Beijing WKW Automotive Parts Co.,Ltd. | 1.94% | $0.08 | 49.66% |
| 002697.SZ | Chengdu Hongqi Chain Co.,Ltd. | 1.94% | $0.12 | 30.44% |
| 0345.HK | Vitasoy International Holdings Limited | 1.94% | $0.13 | 36.86% |
| 079430.KS | Hyundai Livart Furniture Company Limited | 1.94% | $131.15 | 21.94% |
| 0GEG.L | Vaisala Oyj | 1.94% | $0.85 | 48.66% |
| 2229.T | Calbee, Inc. | 1.94% | $58.09 | 41.83% |
| 3284.T | Hoosiers Holdings Co., Ltd. | 1.94% | $25.55 | 22.98% |
| 4819.T | Digital Garage, Inc. | 1.94% | $52.42 | 75.12% |
| 600061.SS | SDIC Capital Co.,Ltd | 1.94% | $0.15 | 29.00% |
| 600356.SS | Mudanjiang Hengfeng Paper Co.,Ltd | 1.94% | $0.17 | 33.08% |
| 600563.SS | Xiamen Faratronic Co., Ltd. | 1.94% | $2.04 | 39.85% |
| 688468.SS | Chemclin Diagnostics Co., Ltd. | 1.94% | $0.14 | 99.41% |
| 9610.SR | First Avenue for Real Estate De | 1.94% | $0.12 | 16.89% |
| ADMIE.AT | Admie Holding S.A. | 1.94% | $0.06 | 10.56% |
| MPHASIS.BO | Mphasis Limited | 1.94% | $54.42 | 58.27% |
| TREL-B.ST | Trelleborg AB (publ) | 1.94% | $7.56 | 46.55% |
| 005740.KS | CROWNHAITAI Holdings Co.,Ltd. | 1.93% | $130.05 | 9.54% |