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 % ⇵ |
|---|---|---|---|---|
| WIIT.MI | Wiit S.p.A. | 1.49% | $0.30 | 78.75% |
| 010130.KS | Korea Zinc Company, Ltd. | 1.48% | $19,110.01 | 86.56% |
| 0R3I.L | Scatec ASA | 1.48% | $1.09 | 19.46% |
| 2445.KL | Kuala Lumpur Kepong Berhad | 1.48% | $0.29 | 39.87% |
| 264900.KS | Crown Confectionery Co., Ltd. | 1.48% | $130.05 | 9.54% |
| 300627.SZ | Shanghai Huace Navigation Technology Ltd | 1.48% | $0.52 | 41.90% |
| 4FY.F | Grupo Financiero Inbursa, S.A.B. de C.V. | 1.48% | $0.03 | 0.78% |
| 601633.SS | Great Wall Motor Company Limited | 1.48% | $0.34 | 26.17% |
| 605499.SS | Eastroc Beverage (Group) Co.,Ltd. | 1.48% | $3.95 | 46.92% |
| CHEMM.CO | ChemoMetec A/S | 1.48% | $10.00 | 53.93% |
| LPC.V | Lorne Park Capital Partners Inc. | 1.48% | $0.03 | 58.11% |
| ROVI.MC | Laboratorios Farmaceuticos Rovi, S.A. | 1.48% | $0.94 | 39.48% |
| 002627.SZ | Hubei Three Gorges Tourism Group Co., Ltd. | 1.47% | $0.11 | 83.03% |
| 4917.T | Mandom Corporation | 1.47% | $40.01 | 89.41% |
| 600908.SS | Wuxi Rural Commercial Bank Co.,Ltd | 1.47% | $0.09 | 8.24% |
| 603128.SS | CTS International Logistics Corporation Limited | 1.47% | $0.09 | 31.49% |
| 603192.SS | Shanghai Huide Science & Technology Co.,Ltd | 1.47% | $0.39 | 42.81% |
| 605155.SS | Zhejiang Xidamen New Material Co.,Ltd. | 1.47% | $0.25 | 38.23% |
| 6824.T | New Cosmos Electric Co.,Ltd. | 1.47% | $60.05 | 21.02% |
| MT.AS | ArcelorMittal S.A. | 1.47% | $0.59 | 17.37% |
| 000120.KS | CJ Logistics Corporation | 1.46% | $1,384.18 | 11.62% |
| 001319.SZ | Winstech Precision Holding Co., Ltd. | 1.46% | $0.40 | 42.15% |
| 002430.SZ | Hangzhou Oxygen Plant Group Co.,Ltd. | 1.46% | $0.44 | 42.21% |
| 088790.KS | Jindo.Co., Ltd. | 1.46% | $29.41 | 17.12% |
| 138A.T | Hikari Food Service Co Ltd | 1.46% | $39.93 | 30.85% |
| 195870.KS | HAESUNG DS Co., Ltd. | 1.46% | $800.14 | 51.39% |
| 600475.SS | Wuxi Huaguang Environment & Energy Group Co.,Ltd. | 1.46% | $0.27 | 45.95% |
| 603896.SS | Zhejiang Shouxiangu Pharmaceutical Co., Ltd. | 1.46% | $0.28 | 42.25% |
| 6517.T | Denyo Co., Ltd. | 1.46% | $52.36 | 21.56% |
| 688269.SS | Kaili Catalyst & New Materials Co.,Ltd. | 1.46% | $0.58 | 68.32% |
| 688777.SS | Zhejiang Supcon Technology Co., Ltd. | 1.46% | $0.72 | 68.29% |
| ALU10.PA | U10 Corp | 1.46% | $0.02 | 61.68% |
| DESP | Despegar.com, Corp. | 1.46% | $0.28 | 85.32% |
| DGI9.L | Digital 9 Infrastructure PLC | 1.46% | $0.09 | 18.97% |
| FALABELLA.SN | Falabella S.A. | 1.46% | $88.36 | 25.66% |
| 052400.KQ | Kona I Co.,Ltd. | 1.45% | $683.72 | 25.31% |
| 138040.KS | Meritz Financial Group Inc. | 1.45% | $1,617.86 | 12.25% |
| 300708.SZ | Focus Lightings Tech Co., Ltd. | 1.45% | $0.13 | 49.25% |
| 3056.TW | Fu Hua Innovation Co. Ltd. | 1.45% | $0.26 | 5.02% |
| 601116.SS | Sanjiang Shopping Club Co.,Ltd | 1.45% | $0.20 | 80.56% |
| 603089.SS | ADD Industry (Zhejiang) Co. Ltd. | 1.45% | $0.18 | 28.19% |
| 9523.SR | Group Five Pipe Saudi Ltd. | 1.45% | $0.50 | 8.57% |
| BBIK.BK | Bluebik Group Public Company Limited | 1.45% | $0.22 | 13.18% |
| EXO.AS | Exor N.V. | 1.45% | $1.05 | 1.36% |
| PNVL3.SA | Dimed S.A. Distribuidora de Medicamentos | 1.45% | $0.18 | 23.28% |
| SIG | Signet Jewelers Limited | 1.45% | $1.25 | 35.52% |
| URB-A.CN | Urbana Corporation | 1.45% | $0.13 | 5.63% |
| 002242.SZ | Joyoung Co.,Ltd | 1.44% | $0.15 | 77.40% |
| 009070.KS | KCTC Co. Ltd | 1.44% | $88.49 | 12.75% |
| 012320.KS | Kyungdong Invest Co., Ltd | 1.44% | $760.23 | 7.07% |