Definitive Analysis
| Stable Growth | $1,210,564.06 - $3,717,948.21 | $1,932,101.49 |
| Multi-Stage | $899,894.92 - $983,698.41 | $941,030.93 |
| Blended Fair Value | $1,436,566.21 | |
| Current Price | $451,500.00 | |
| Upside | 218.18% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 6.86% | 18.63% | 16,021.99 | 13,826.78 | 12,022.50 | 8,800.22 | 8,500.22 | 11,500.18 | 10,000.20 | 6,117.67 | 5,228.69 | 4,695.94 |
| YoY Growth | - | - | 15.88% | 15.01% | 36.62% | 3.53% | -26.09% | 15.00% | 63.46% | 17.00% | 11.35% | 61.80% |
| Dividend Yield | - | - | 4.48% | 4.53% | 5.84% | 4.02% | 4.47% | 7.47% | 3.24% | 2.26% | 1.95% | 1.59% |
| Net Income To Common (M) | 1,990,667.81 |
| (-) Cash Dividends Paid (M) | 809,299.28 |
| (=) Cash Retained (M) | 1,181,368.53 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 398,133.56 | 248,833.48 | 149,300.09 |
| Cash Retained (M) | 1,181,368.53 | 1,181,368.53 | 1,181,368.53 |
| (-) Cash Required (M) | -398,133.56 | -248,833.48 | -149,300.09 |
| (=) Excess Retained (M) | 783,234.97 | 932,535.06 | 1,032,068.45 |
| (/) Shares Outstanding (M) | 42.51 | 42.51 | 42.51 |
| (=) Excess Retained per Share | 18,424.72 | 21,936.84 | 24,278.25 |
| LTM Dividend per Share | 19,037.86 | 19,037.86 | 19,037.86 |
| (+) Excess Retained per Share | 18,424.72 | 21,936.84 | 24,278.25 |
| (=) Adjusted Dividend | 37,462.58 | 40,974.70 | 43,316.11 |
| WACC / Discount Rate | 8.10% | 8.10% | 8.10% |
| Growth Rate | 4.86% | 5.86% | 6.86% |
| Fair Value | $1,210,564.06 | $1,932,101.49 | $3,717,948.21 |
| Upside / Downside | 168.12% | 327.93% | 723.47% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,990,667.81 | 2,107,258.06 | 2,230,676.81 | 2,361,324.00 | 2,499,622.99 | 2,646,021.93 | 2,725,402.58 |
| Payout Ratio | 40.65% | 50.52% | 60.39% | 70.26% | 80.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 809,299.28 | 1,064,665.37 | 1,347,168.13 | 1,659,110.28 | 2,002,971.21 | 2,381,419.73 | 2,520,997.39 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 8.10% | 8.10% | 8.10% |
| Growth Rate | 4.86% | 5.86% | 6.86% |
| Year 1 PV (M) | 975,569.29 | 984,873.11 | 994,176.93 |
| Year 2 PV (M) | 1,131,128.08 | 1,152,805.67 | 1,174,689.01 |
| Year 3 PV (M) | 1,276,468.87 | 1,313,338.60 | 1,350,911.54 |
| Year 4 PV (M) | 1,412,064.95 | 1,466,706.82 | 1,522,919.40 |
| Year 5 PV (M) | 1,538,370.37 | 1,613,138.68 | 1,690,786.27 |
| PV of Terminal Value (M) | 31,920,931.58 | 33,472,361.76 | 35,083,536.44 |
| Equity Value (M) | 38,254,533.13 | 40,003,224.65 | 41,817,019.60 |
| Shares Outstanding (M) | 42.51 | 42.51 | 42.51 |
| Fair Value | $899,894.92 | $941,030.93 | $983,698.41 |
| Upside / Downside | 99.31% | 108.42% | 117.87% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 0FNZ.L | Ponsse Oyj | 1.93% | $0.50 | 25.56% |
| 5278.TWO | Sunfun Info Co., Ltd. | 1.93% | $0.61 | 63.56% |
| 7080.T | Sportsfield Co., Ltd. | 1.93% | $15.88 | 18.18% |
| CROS.PA | Crosswood S.A. | 1.93% | $0.21 | 60.81% |
| SALFACORP.SN | SalfaCorp S.A. | 1.93% | $23.48 | 29.64% |
| 004770.KS | Sunny Electronics Corp. | 1.92% | $30.30 | 25.98% |
| 0083.HK | Sino Land Company Limited | 1.92% | $0.20 | 21.48% |
| 114090.KS | Grand Korea Leisure Co., Ltd. | 1.92% | $281.61 | 39.11% |
| 200880.KS | Seoyon E-Hwa Co., Ltd. | 1.92% | $250.04 | 6.17% |
| 2874.T | Yokorei Co.,Ltd. | 1.92% | $24.25 | 72.26% |
| 600642.SS | Shenergy Company Limited | 1.92% | $0.15 | 18.42% |
| 600995.SS | China Southern Power Grid Energy Storage Co., Ltd. | 1.92% | $0.24 | 50.98% |
| 603158.SS | Changzhou Tenglong AutoPartsCo.,Ltd. | 1.92% | $0.20 | 63.30% |
| 603214.SS | Shanghai Aiyingshi Co.,Ltd | 1.92% | $0.33 | 41.13% |
| 603298.SS | Hangcha Group Co., Ltd | 1.92% | $0.51 | 30.38% |
| 603725.SS | Guangdong Tianan New Material Co., Ltd. | 1.92% | $0.18 | 45.17% |
| 605162.SS | Zhejiang Xinzhonggang Thermal Power Co., Ltd. | 1.92% | $0.16 | 50.25% |
| AAK.ST | AAK AB (publ.) | 1.92% | $4.98 | 38.08% |
| NYF.ST | Nyfosa AB (publ) | 1.92% | $1.40 | 48.74% |
| PAS.WA | Passus S.A. | 1.92% | $2.26 | 17.62% |
| 300303.SZ | Shenzhen Jufei Optoelectronics Co., Ltd. | 1.91% | $0.13 | 57.25% |
| 301552.SZ | Hebei Keli Automobile Equipment Co., Ltd. | 1.91% | $0.71 | 43.10% |
| 4303.TWO | HsinLi Chemical Industrial Corp. | 1.91% | $1.16 | 7.73% |
| 600717.SS | Tianjin Port Co., Ltd. | 1.91% | $0.09 | 28.13% |
| 603269.SS | Jiangsu Seagull Cooling Tower Co.,Ltd. | 1.91% | $0.25 | 70.74% |
| 603733.SS | Xianhe Co.,Ltd. | 1.91% | $0.46 | 36.40% |
| KRN.DE | Krones AG | 1.91% | $2.60 | 28.35% |
| NKNC.ME | PJSC Nizhnekamskneftekhim | 1.91% | $1.49 | 6.74% |
| TFFIF.BK | Thailand Future Fund | 1.91% | $0.12 | 5.95% |
| 002970.SZ | Streamax Technology Co., Ltd. | 1.90% | $0.92 | 47.47% |
| 088350.KS | Hanwha Life Insurance Co., Ltd. | 1.90% | $61.91 | 6.15% |
| 2547.TW | Radium Life Tech. Co., Ltd. | 1.90% | $0.20 | 8.24% |
| 300760.SZ | Shenzhen Mindray Bio-Medical Electronics Co., Ltd. | 1.90% | $3.62 | 51.04% |
| 600323.SS | Grandblue Environment Co., Ltd. | 1.90% | $0.54 | 23.47% |
| 603806.SS | Hangzhou First Applied Material Co., Ltd. | 1.90% | $0.27 | 93.87% |
| ANE.MC | Corporación Acciona Energías Renovables, S.A. | 1.90% | $0.44 | 19.14% |
| ARML3.SA | Armac Locação, Logística e Serviços S.A. | 1.90% | $0.09 | 55.38% |
| CRSN.JK | PT Carsurin Tbk | 1.90% | $2.35 | 24.82% |
| CSAB3.SA | Companhia de Seguros Alianca da Bahia | 1.90% | $0.58 | 29.45% |
| GFNORTEO.MX | Grupo Financiero Banorte, S.A.B. de C.V. | 1.90% | $3.26 | 17.54% |
| GULF-R.BK | Gulf Energy Development Public Company Limited | 1.90% | $0.79 | 14.96% |
| RDOR3.SA | Rede D'Or São Luiz S.A. | 1.90% | $0.77 | 38.15% |
| 300119.SZ | Tianjin Ringpu Bio-Technology Co.,Ltd. | 1.89% | $0.35 | 38.42% |
| 3305.TW | Shenmao Technology Inc | 1.89% | $2.05 | 72.44% |
| 4150.SR | Arriyadh Development Co. | 1.89% | $0.43 | 42.09% |
| 4203.T | Sumitomo Bakelite Company Limited | 1.89% | $97.84 | 43.46% |
| 5053.KL | OSK Holdings Berhad | 1.89% | $0.03 | 11.22% |
| 6376.T | Nikkiso Co., Ltd. | 1.89% | $29.94 | 28.66% |
| ADMCM.HE | Admicom Oyj | 1.89% | $0.81 | 41.55% |
| MMK.VI | Mayr-Melnhof Karton AG | 1.89% | $1.80 | 15.04% |