Definitive Analysis
| Stable Growth | $297,398.03 - $638,255.29 | $423,974.07 |
| Multi-Stage | $217,599.57 - $237,601.64 | $227,419.93 |
| Blended Fair Value | $325,697.00 | |
| Current Price | $115,500.00 | |
| Upside | 181.99% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 14.18% | 22.64% | 4,002.68 | 3,100.71 | 3,870.17 | 2,643.04 | 2,317.91 | 2,062.61 | 2,063.90 | 1,340.44 | 1,019.19 | 811.19 |
| YoY Growth | - | - | 29.09% | -19.88% | 46.43% | 14.03% | 12.38% | -0.06% | 53.97% | 31.52% | 25.64% | 56.00% |
| Dividend Yield | - | - | 5.07% | 4.53% | 8.12% | 4.31% | 4.12% | 5.97% | 4.69% | 2.21% | 2.08% | 2.55% |
| Net Income To Common (M) | 5,804,665.00 |
| (-) Cash Dividends Paid (M) | 1,316,794.00 |
| (=) Cash Retained (M) | 4,487,871.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,160,933.00 | 725,583.13 | 435,349.88 |
| Cash Retained (M) | 4,487,871.00 | 4,487,871.00 | 4,487,871.00 |
| (-) Cash Required (M) | -1,160,933.00 | -725,583.13 | -435,349.88 |
| (=) Excess Retained (M) | 3,326,938.00 | 3,762,287.88 | 4,052,521.13 |
| (/) Shares Outstanding (M) | 371.50 | 371.50 | 371.50 |
| (=) Excess Retained per Share | 8,955.53 | 10,127.41 | 10,908.67 |
| LTM Dividend per Share | 3,544.58 | 3,544.58 | 3,544.58 |
| (+) Excess Retained per Share | 8,955.53 | 10,127.41 | 10,908.67 |
| (=) Adjusted Dividend | 12,500.10 | 13,671.99 | 14,453.24 |
| WACC / Discount Rate | 9.93% | 9.93% | 9.93% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $297,398.03 | $423,974.07 | $638,255.29 |
| Upside / Downside | 157.49% | 267.08% | 452.60% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 5,804,665.00 | 6,181,968.23 | 6,583,796.16 | 7,011,742.91 | 7,467,506.20 | 7,952,894.10 | 8,191,480.93 |
| Payout Ratio | 22.69% | 36.15% | 49.61% | 63.07% | 76.54% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,316,794.00 | 2,234,662.77 | 3,266,291.02 | 4,422,589.50 | 5,715,406.70 | 7,157,604.69 | 7,577,119.86 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.93% | 9.93% | 9.93% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 2,013,638.53 | 2,032,725.15 | 2,051,811.77 |
| Year 2 PV (M) | 2,652,124.55 | 2,702,640.08 | 2,753,632.16 |
| Year 3 PV (M) | 3,235,826.22 | 3,328,715.16 | 3,423,364.97 |
| Year 4 PV (M) | 3,768,124.28 | 3,913,035.70 | 4,062,087.15 |
| Year 5 PV (M) | 4,252,215.90 | 4,457,599.52 | 4,670,843.65 |
| PV of Terminal Value (M) | 64,915,330.98 | 68,050,765.74 | 71,306,200.97 |
| Equity Value (M) | 80,837,260.45 | 84,485,481.34 | 88,267,940.67 |
| Shares Outstanding (M) | 371.50 | 371.50 | 371.50 |
| Fair Value | $217,599.57 | $227,419.93 | $237,601.64 |
| Upside / Downside | 88.40% | 96.90% | 105.72% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 600082.SS | Tianjin Hi-Tech Development Co.,Ltd. | 1.68% | $0.07 | 72.77% |
| 603815.SS | Anhui Gourgen Traffic Construction Co.,Ltd. | 1.68% | $0.12 | 45.85% |
| 7280.T | Mitsuba Corporation | 1.68% | $17.57 | 8.76% |
| 8985.T | Japan Hotel REIT Investment Corporation | 1.68% | $1,370.97 | 17.79% |
| 002836.SZ | Guangdong New Grand Long Packing Co., Ltd. | 1.67% | $0.25 | 97.86% |
| 2419.HK | Dekon Food & Agriculture Group | 1.67% | $1.16 | 7.76% |
| 5357.T | Yotai Refractories Co., Ltd. | 1.67% | $30.31 | 25.15% |
| 600312.SS | Henan Pinggao Electric Co.,Ltd. | 1.67% | $0.29 | 34.28% |
| 600933.SS | IKD Co., Ltd. | 1.67% | $0.34 | 31.46% |
| 603259.SS | WuXi AppTec Co., Ltd. | 1.67% | $1.52 | 31.50% |
| 688580.SS | Nanjing Vishee Medical Technology Co., Ltd | 1.67% | $0.81 | 61.33% |
| 8359.T | The Hachijuni Bank, Ltd. | 1.67% | $28.27 | 22.23% |
| 9597.SR | Leaf Global Environmental Services Co. | 1.67% | $0.56 | 25.93% |
| BBMD.JK | PT Bank Mestika Dharma Tbk | 1.67% | $34.25 | 40.25% |
| ELN.MI | EL.En. S.p.A. | 1.67% | $0.23 | 25.56% |
| HARB-B.CO | Harboes Bryggeri A/S | 1.67% | $2.00 | 18.85% |
| HARVIA.HE | Harvia Oyj | 1.67% | $0.72 | 56.92% |
| NORBT.OL | Norbit ASA | 1.67% | $2.99 | 50.40% |
| 002240.KS | Kiswire Ltd. | 1.66% | $350.65 | 18.13% |
| 011780.KS | Kumho Petrochemical Co., Ltd. | 1.66% | $1,950.82 | 19.35% |
| 0QI7.L | Addtech AB (publ.) | 1.66% | $3.20 | 43.14% |
| 1346.HK | Lever Style Corporation | 1.66% | $0.02 | 47.86% |
| 1789.HK | AK Medical Holdings Limited | 1.66% | $0.10 | 22.23% |
| 273640.KQ | YM Tech Co., Ltd. | 1.66% | $139.56 | 29.02% |
| 300039.SZ | Shanghai Kaibao Pharmaceutical CO.,Ltd | 1.66% | $0.10 | 30.28% |
| 603231.SS | Solbar Ningbo Protein Technology Co., Ltd. | 1.66% | $0.30 | 32.96% |
| 688575.SS | Shenzhen YHLO Biotech Co., Ltd. | 1.66% | $0.24 | 93.71% |
| AKBNK.IS | Akbank T.A.S. | 1.66% | $1.22 | 13.20% |
| TFII | TFI International Inc. | 1.66% | $1.77 | 45.37% |
| 002124.SZ | Tech-Bank Food Co., Ltd. | 1.65% | $0.05 | 26.60% |
| 002978.SZ | Sichuan Anning Iron and Titanium Co.,Ltd. | 1.65% | $0.54 | 31.99% |
| 009470.KS | Samwha Electric Co.,Ltd. | 1.65% | $500.14 | 26.53% |
| 009900.KS | Myoung Shin Industrial Co.,Ltd | 1.65% | $149.45 | 9.10% |
| 0743.HK | Asia Cement (China) Holdings Corporation | 1.65% | $0.04 | 25.13% |
| 0HDQ.L | Synergie SE | 1.65% | $0.50 | 9.05% |
| 1308.HK | SITC International Holdings Company Limited | 1.65% | $0.46 | 66.51% |
| 2273.HK | Gushengtang Holdings Limited | 1.65% | $0.48 | 19.04% |
| 300750.SZ | Contemporary Amperex Technology Co., Limited | 1.65% | $6.07 | 43.20% |
| 300856.SZ | Nanjing COSMOS Chemical Co., Ltd. | 1.65% | $0.22 | 83.60% |
| 300932.SZ | Sanyou Corporation Limited | 1.65% | $0.20 | 84.47% |
| 323410.KS | KakaoBank Corp. | 1.65% | $360.28 | 37.33% |
| 5101.T | The Yokohama Rubber Co., Ltd. | 1.65% | $99.28 | 24.61% |
| 601228.SS | Guangzhou Port Company Limited | 1.65% | $0.05 | 45.08% |
| 603193.SS | Runben Biotechnology | 1.65% | $0.40 | 52.98% |
| 603312.SS | Suzhou W Deane New Power Elec | 1.65% | $0.77 | 41.51% |
| 9542.SR | Keir International Co. | 1.65% | $0.07 | 23.35% |
| CEVI.ST | CellaVision AB (publ) | 1.65% | $2.50 | 39.38% |
| SII | Sprott Inc. | 1.65% | $1.67 | 61.40% |
| ZUE.WA | ZUE S.A. | 1.65% | $0.21 | 51.75% |
| 2758.TWO | Louisa Professional Coffee Ltd. | 1.64% | $1.50 | 47.97% |