Definitive Analysis
| Stable Growth | $209,951.50 - $844,097.38 | $560,051.66 |
| Multi-Stage | $103,700.38 - $113,362.63 | $108,443.38 |
| Blended Fair Value | $334,247.52 | |
| Current Price | $26,775.00 | |
| Upside | 1,148.36% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 11.99% | 15.07% | 2,235.27 | 6,883.97 | 1,752.66 | 829.66 | 1,002.11 | 1,269.08 | 1,002.11 | 693.06 | 598.60 | 817.30 |
| YoY Growth | - | - | -67.53% | 292.77% | 111.25% | -17.21% | -21.04% | 26.64% | 44.59% | 15.78% | -26.76% | 48.78% |
| Dividend Yield | - | - | 9.49% | 28.65% | 6.02% | 3.25% | 4.53% | 7.51% | 3.68% | 2.17% | 2.26% | 5.34% |
| Net Income To Common (M) | 15,414,710.00 |
| (-) Cash Dividends Paid (M) | 7,808,837.00 |
| (=) Cash Retained (M) | 7,605,873.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,082,942.00 | 1,926,838.75 | 1,156,103.25 |
| Cash Retained (M) | 7,605,873.00 | 7,605,873.00 | 7,605,873.00 |
| (-) Cash Required (M) | -3,082,942.00 | -1,926,838.75 | -1,156,103.25 |
| (=) Excess Retained (M) | 4,522,931.00 | 5,679,034.25 | 6,449,769.75 |
| (/) Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| (=) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| LTM Dividend per Share | 2,150.12 | 2,150.12 | 2,150.12 |
| (+) Excess Retained per Share | 1,245.37 | 1,563.69 | 1,775.91 |
| (=) Adjusted Dividend | 3,395.49 | 3,713.82 | 3,926.03 |
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $209,951.50 | $560,051.66 | $844,097.38 |
| Upside / Downside | 684.13% | 1,991.70% | 3,052.56% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 15,414,710.00 | 16,416,666.15 | 17,483,749.45 | 18,620,193.16 | 19,830,505.72 | 21,119,488.59 | 21,753,073.25 |
| Payout Ratio | 50.66% | 58.53% | 66.40% | 74.26% | 82.13% | 90.00% | 92.50% |
| Projected Dividends (M) | 7,808,837.00 | 9,608,129.03 | 11,608,336.69 | 13,827,977.00 | 16,287,125.33 | 19,007,539.73 | 20,121,592.76 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.21% | 7.21% | 7.21% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 8,878,133.73 | 8,962,286.66 | 9,046,439.58 |
| Year 2 PV (M) | 9,911,416.07 | 10,100,200.70 | 10,290,766.33 |
| Year 3 PV (M) | 10,909,559.51 | 11,222,733.76 | 11,541,844.79 |
| Year 4 PV (M) | 11,873,420.85 | 12,330,039.10 | 12,799,702.62 |
| Year 5 PV (M) | 12,803,838.45 | 13,422,268.64 | 14,064,367.60 |
| PV of Terminal Value (M) | 322,243,619.99 | 337,808,107.33 | 353,968,284.24 |
| Equity Value (M) | 376,619,988.60 | 393,845,636.20 | 411,711,405.16 |
| Shares Outstanding (M) | 3,631.81 | 3,631.81 | 3,631.81 |
| Fair Value | $103,700.38 | $108,443.38 | $113,362.63 |
| Upside / Downside | 287.30% | 305.02% | 323.39% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 0293.HK | Cathay Pacific Airways Limited | 9.31% | $1.18 | 41.45% |
| ROMI3.SA | Romi S.A. | 9.31% | $0.74 | 73.26% |
| SKUE.OL | Skue Sparebank | 9.31% | $32.59 | 19.52% |
| 4589.TWO | Motion Technology Electric & Machinery Co., Ltd. | 9.30% | $3.25 | 67.47% |
| SSTRT.BK | Sub Sri Thai Real Estate Investment Trust | 9.30% | $0.40 | 78.24% |
| CLPI.JK | PT Colorpak Indonesia Tbk | 9.29% | $139.36 | 65.00% |
| GXH.NZ | Green Cross Health Limited | 9.27% | $0.10 | 47.49% |
| MOL.BD | MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság | 9.27% | $272.60 | 77.71% |
| ORG.AX | Origin Energy Limited | 9.27% | $1.05 | 62.89% |
| 0259.HK | Yeebo (International Holdings) Limited | 9.26% | $0.36 | 11.31% |
| WEHB.BR | Wereldhave Belgium | 9.26% | $4.98 | 46.05% |
| 0KD1.L | Tubacex, S.A. | 9.24% | $0.32 | 99.60% |
| ACL.AX | Australian Clinical Labs Limited | 9.21% | $0.25 | 79.65% |
| BMRI.JK | PT Bank Mandiri (Persero) Tbk | 9.19% | $466.18 | 84.49% |
| 0116.HK | Chow Sang Sang Holdings International Limited | 9.18% | $1.12 | 39.62% |
| 2284.SR | Modern Mills for Food Products Co. | 9.18% | $2.64 | 99.54% |
| CGRA3.SA | Grazziotin S.A. | 9.18% | $2.57 | 51.61% |
| 0OPJ.L | ABC arbitrage S.A. | 9.17% | $0.50 | 56.87% |
| 000543.SZ | An Hui Wenergy Company Limited | 9.16% | $0.73 | 69.19% |
| PANR.JK | PT Panorama Sentrawisata Tbk | 9.16% | $60.00 | 23.97% |
| CQR.AX | Charter Hall Retail REIT | 9.15% | $0.37 | 94.16% |
| ILINK.BK | Interlink Communication Public Company Limited | 9.14% | $0.43 | 60.06% |
| ELD.AX | Elders Limited | 9.10% | $0.62 | 84.73% |
| GOP.WA | Games Operators S.A. | 9.09% | $1.00 | 94.94% |
| 000544.SZ | Zhongyuan Environmental Protection Co., Ltd. | 9.08% | $0.76 | 69.45% |
| DIRR3.SA | Direcional Engenharia S.A. | 9.08% | $1.24 | 85.08% |
| BMKS3.SA | Bicicletas Monark S.A. | 9.07% | $33.58 | 19.86% |
| WHA.AS | Wereldhave N.V. | 9.07% | $1.75 | 42.00% |
| ARBS.MI | Arterra Bioscience | 9.06% | $0.28 | 56.80% |
| WMI.AX | WAM Microcap Limited | 9.06% | $0.15 | 52.69% |
| 2386.HK | SINOPEC Engineering (Group) Co., Ltd. | 9.05% | $0.69 | 61.95% |
| FGX.AX | Future Generation Australia Limited | 9.05% | $0.12 | 56.23% |
| 0011.HK | Hang Seng Bank Limited | 9.04% | $13.92 | 81.46% |
| 0552.HK | China Communications Services Corporation Limited | 9.04% | $0.42 | 39.96% |
| 3092.SR | Riyadh Cement Company | 9.03% | $2.16 | 53.08% |
| 3320.HK | China Resources Pharmaceutical Group Limited | 9.01% | $0.41 | 35.95% |
| DF.TO | Dividend 15 Split Corp. II | 9.01% | $0.68 | 14.59% |
| SIGN.SW | SIG Group AG | 9.01% | $1.02 | 82.02% |
| ODPV3.SA | Odontoprev S.A. | 9.00% | $1.01 | 95.59% |
| CDO.AX | Cadence Opportunities Fund Limited | 8.99% | $0.17 | 71.14% |
| MDARA.RG | AS MADARA Cosmetics | 8.97% | $0.93 | 55.30% |
| SRIPANWA.BK | Sri panwa Hospitality Real Estate Investment Trust | 8.97% | $0.45 | 52.90% |
| ASK.AX | Abacus Storage King | 8.96% | $0.14 | 41.63% |
| BBAJIOO.MX | Banco del Bajío, S.A., Institución de Banca Múltiple | 8.95% | $4.10 | 50.16% |
| COFA.PA | Coface S.A. | 8.95% | $1.40 | 91.04% |
| 0002.HK | CLP Holdings Limited | 8.94% | $6.25 | 82.57% |
| 2636.TW | T3EX Global Holdings Corp. | 8.94% | $6.00 | 73.34% |
| IFS | Intercorp Financial Services Inc. | 8.94% | $3.77 | 21.42% |
| BIZ.BK | Business Alignment Public Company Limited | 8.93% | $0.36 | 64.25% |
| 6963.HK | Sunshine Insurance Group Company Limited | 8.92% | $0.35 | 41.98% |