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 % ⇵ |
|---|---|---|---|---|
| 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% |