DDM Analysis: 002294.SZ

Valuation Snapshot

Stable Growth	$4.40 - $6.38	$5.36
Multi-Stage	$8.09 - $8.86	$8.47
Blended Fair Value	$6.92
Current Price	$60.35
Upside	-88.54%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-8.53%	3.36%	0.49	0.49	0.40	0.01	0.48	0.77	0.76	1.04	0.19	0.41
YoY Growth	-	-	-0.61%	24.52%	2,738.49%	-97.09%	-37.28%	1.10%	-27.35%	462.52%	-55.02%	16.98%
Dividend Yield	-	-	1.49%	1.67%	1.12%	0.06%	1.27%	4.31%	2.75%	2.41%	0.65%	1.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	672.56
(-) Cash Dividends Paid (M)	557.47
(=) Cash Retained (M)	115.09

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	134.51	84.07	50.44
Cash Retained (M)	115.09	115.09	115.09
(-) Cash Required (M)	-134.51	-84.07	-50.44
(=) Excess Retained (M)	-19.42	31.02	64.65
(/) Shares Outstanding (M)	1,114.15	1,114.15	1,114.15
(=) Excess Retained per Share	-0.02	0.03	0.06
LTM Dividend per Share	0.50	0.50	0.50
(+) Excess Retained per Share	-0.02	0.03	0.06
(=) Adjusted Dividend	0.48	0.53	0.56
WACC / Discount Rate	8.56%	8.56%	8.56%
Growth Rate	-2.18%	-1.18%	-0.18%
Fair Value	$4.40	$5.36	$6.38
Upside / Downside	-92.71%	-91.11%	-89.42%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	672.56	664.65	656.83	649.10	641.46	633.91	652.93
Payout Ratio	82.89%	84.31%	85.73%	87.16%	88.58%	90.00%	92.50%
Projected Dividends (M)	557.47	560.37	563.12	565.72	568.19	570.52	603.96

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.56%	8.56%	8.56%
Growth Rate	-2.18%	-1.18%	-0.18%
Year 1 PV (M)	510.98	516.20	521.43
Year 2 PV (M)	468.23	477.85	487.57
Year 3 PV (M)	428.94	442.23	455.79
Year 4 PV (M)	392.84	409.15	425.97
Year 5 PV (M)	359.69	378.45	397.99
PV of Terminal Value (M)	6,853.89	7,211.45	7,583.77
Equity Value (M)	9,014.57	9,435.34	9,872.52
Shares Outstanding (M)	1,114.15	1,114.15	1,114.15
Fair Value	$8.09	$8.47	$8.86
Upside / Downside	-86.59%	-85.97%	-85.32%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 9 of 30 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
ATLO	Ames National Corporation	3.84%	$0.87	48.60%
FRME	First Merchants Corporation	3.83%	$1.44	35.39%
PCAR	PACCAR Inc	3.83%	$4.27	83.66%
0HJO.L	AvalonBay Communities, Inc.	3.82%	$6.86	84.26%
FE	FirstEnergy Corp.	3.82%	$1.73	75.49%
LXFR	Luxfer Holdings PLC	3.81%	$0.52	98.38%
LCII	LCI Industries	3.80%	$4.72	64.48%
NEN	New England Realty Associates Limited Partnership	3.78%	$2.44	73.23%
PAYX	Paychex, Inc.	3.78%	$4.10	91.97%
RGCO	RGC Resources, Inc.	3.78%	$0.81	63.02%
UBSI	United Bankshares, Inc.	3.78%	$1.45	48.05%
SLVM	Sylvamo Corporation	3.77%	$1.80	41.11%
CAC	Camden National Corporation	3.75%	$1.61	47.99%
ARCH	Arch Resources, Inc.	3.74%	$5.04	50.87%
USB	U.S. Bancorp	3.74%	$2.02	43.68%
WSR	Whitestone REIT	3.74%	$0.52	60.32%
FDBC	Fidelity D & D Bancorp, Inc.	3.73%	$1.61	35.71%
WNC	Wabash National Corporation	3.73%	$0.33	5.38%
VLY	Valley National Bancorp	3.72%	$0.43	47.26%
GHLD	Guild Holdings Company	3.71%	$0.74	36.91%
FNF	Fidelity National Financial, Inc.	3.69%	$2.00	46.79%
IPAR	Inter Parfums, Inc.	3.68%	$3.15	61.47%
WSBF	Waterstone Financial, Inc.	3.68%	$0.61	45.57%
AROW	Arrow Financial Corporation	3.66%	$1.15	54.67%
ASIX	AdvanSix Inc.	3.66%	$0.63	32.72%
ASRV	AmeriServ Financial, Inc.	3.66%	$0.12	78.81%
CVGW	Calavo Growers, Inc.	3.66%	$0.80	71.92%
OXY	Occidental Petroleum Corporation	3.65%	$1.55	75.62%
FMAO	Farmers & Merchants Bancorp, Inc.	3.64%	$0.89	37.59%
LNKB	LINKBANCORP, Inc.	3.64%	$0.30	29.21%
BHRB	Burke & Herbert Bank & Trust Company	3.63%	$2.24	31.71%
EOG	EOG Resources, Inc.	3.63%	$3.90	38.34%
FITB	Fifth Third Bancorp	3.61%	$1.72	47.89%
LNC	Lincoln National Corporation	3.61%	$1.63	14.98%
MCBS	MetroCity Bankshares, Inc.	3.61%	$0.95	36.60%
OZK	Bank OZK	3.61%	$1.70	26.69%
PCB	PCB Bancorp	3.61%	$0.78	31.72%
SFD	SMITHFIELD FOODS INC	3.60%	$0.80	36.46%
0HOB.L	H&R Block, Inc.	3.59%	$1.54	33.12%
ASB	Associated Banc-Corp	3.59%	$0.92	87.56%
PLOW	Douglas Dynamics, Inc.	3.59%	$1.18	66.47%
EXC	Exelon Corporation	3.58%	$1.57	56.50%
MC	Moelis & Company	3.58%	$2.55	85.89%
TIPT	Tiptree Inc.	3.57%	$0.64	49.10%
BPRN	Princeton Bancorp, Inc.	3.56%	$1.20	46.56%
EVRG	Evergy, Inc.	3.56%	$2.60	71.71%
CZFS	Citizens Financial Services, Inc.	3.55%	$1.97	27.82%
CNO-PA	CNO Financial Group, Inc. 5.125	3.54%	$0.67	22.53%
NBTB	NBT Bancorp Inc.	3.54%	$1.47	46.30%
0JQQ.L	Archer-Daniels-Midland Company	3.53%	$2.03	82.76%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Shenzhen Salubris Pharmaceuticals Co., Ltd. (002294.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener