Definitive Analysis
| Stable Growth | $19,059.43 - $111,321.37 | $35,274.78 |
| Multi-Stage | $11,640.68 - $12,705.17 | $12,163.30 |
| Blended Fair Value | $23,719.04 | |
| Current Price | $4,120.00 | |
| Upside | 475.70% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.74% | 14.43% | 280.46 | 196.50 | 73.09 | 22.00 | 103.18 | 100.70 | 127.85 | 106.46 | 60.81 | 72.31 |
| YoY Growth | - | - | 42.73% | 168.84% | 232.23% | -78.68% | 2.46% | -21.23% | 20.09% | 75.07% | -15.91% | -0.76% |
| Dividend Yield | - | - | 6.61% | 3.48% | 1.56% | 0.53% | 3.60% | 5.27% | 2.72% | 2.45% | 1.88% | 2.78% |
| Net Income To Common (M) | 20,866,036.00 |
| (-) Cash Dividends Paid (M) | 13,951,339.00 |
| (=) Cash Retained (M) | 6,914,697.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,173,207.20 | 2,608,254.50 | 1,564,952.70 |
| Cash Retained (M) | 6,914,697.00 | 6,914,697.00 | 6,914,697.00 |
| (-) Cash Required (M) | -4,173,207.20 | -2,608,254.50 | -1,564,952.70 |
| (=) Excess Retained (M) | 2,741,489.80 | 4,306,442.50 | 5,349,744.30 |
| (/) Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| (=) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| LTM Dividend per Share | 374.26 | 374.26 | 374.26 |
| (+) Excess Retained per Share | 73.54 | 115.53 | 143.51 |
| (=) Adjusted Dividend | 447.80 | 489.79 | 517.77 |
| WACC / Discount Rate | 7.98% | 7.98% | 7.98% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $19,059.43 | $35,274.78 | $111,321.37 |
| Upside / Downside | 362.61% | 756.18% | 2,601.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 20,866,036.00 | 22,222,328.34 | 23,666,779.68 | 25,205,120.36 | 26,843,453.18 | 28,588,277.64 | 29,445,925.97 |
| Payout Ratio | 66.86% | 71.49% | 76.12% | 80.74% | 85.37% | 90.00% | 92.50% |
| Projected Dividends (M) | 13,951,339.00 | 15,886,559.93 | 18,014,415.17 | 20,351,770.88 | 22,916,871.93 | 25,729,449.88 | 27,237,481.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.98% | 7.98% | 7.98% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 14,574,526.81 | 14,712,673.98 | 14,850,821.15 |
| Year 2 PV (M) | 15,161,751.12 | 15,450,539.89 | 15,742,053.09 |
| Year 3 PV (M) | 15,714,334.69 | 16,165,436.76 | 16,625,090.28 |
| Year 4 PV (M) | 16,233,558.46 | 16,857,855.31 | 17,499,987.88 |
| Year 5 PV (M) | 16,720,662.86 | 17,528,277.13 | 18,366,800.70 |
| PV of Terminal Value (M) | 355,525,309.78 | 372,697,315.18 | 390,526,533.65 |
| Equity Value (M) | 433,930,143.72 | 453,412,098.26 | 473,611,286.75 |
| Shares Outstanding (M) | 37,277.06 | 37,277.06 | 37,277.06 |
| Fair Value | $11,640.68 | $12,163.30 | $12,705.17 |
| Upside / Downside | 182.54% | 195.23% | 208.38% |
| 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% |