DDM Analysis: 003850.KS

Valuation Snapshot

Stable Growth	$36,557.77 - $88,954.17	$83,363.09
Multi-Stage	$12,886.89 - $14,109.99	$13,487.19
Blended Fair Value	$48,425.14
Current Price	$8,230.00
Upside	488.40%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	21.82%	20.35%	95.17	92.64	92.67	63.45	59.13	35.48	95.64	22.77	21.89	20.83
YoY Growth	-	-	2.73%	-0.03%	46.05%	7.30%	66.67%	-62.90%	320.12%	3.99%	5.12%	39.48%
Dividend Yield	-	-	1.10%	0.72%	1.06%	0.48%	0.35%	0.39%	1.06%	0.27%	0.29%	0.27%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	31,800.53
(-) Cash Dividends Paid (M)	8,396.29
(=) Cash Retained (M)	23,404.24

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	6,360.11	3,975.07	2,385.04
Cash Retained (M)	23,404.24	23,404.24	23,404.24
(-) Cash Required (M)	-6,360.11	-3,975.07	-2,385.04
(=) Excess Retained (M)	17,044.13	19,429.17	21,019.20
(/) Shares Outstanding (M)	71.10	71.10	71.10
(=) Excess Retained per Share	239.73	273.28	295.64
LTM Dividend per Share	118.10	118.10	118.10
(+) Excess Retained per Share	239.73	273.28	295.64
(=) Adjusted Dividend	357.83	391.38	413.74
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$36,557.77	$83,363.09	$88,954.17
Upside / Downside	344.20%	912.92%	980.85%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	31,800.53	33,867.56	36,068.96	38,413.44	40,910.31	43,569.48	44,876.57
Payout Ratio	26.40%	39.12%	51.84%	64.56%	77.28%	90.00%	92.50%
Projected Dividends (M)	8,396.29	13,249.80	18,698.79	24,800.18	31,615.73	39,212.53	41,510.82

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.53%	6.53%	6.53%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	12,320.53	12,437.32	12,554.10
Year 2 PV (M)	16,167.91	16,475.87	16,786.72
Year 3 PV (M)	19,939.54	20,511.94	21,095.18
Year 4 PV (M)	23,636.54	24,545.53	25,480.50
Year 5 PV (M)	27,259.99	28,576.66	29,943.72
PV of Terminal Value (M)	816,888.55	856,344.57	897,310.67
Equity Value (M)	916,213.07	958,891.88	1,003,170.89
Shares Outstanding (M)	71.10	71.10	71.10
Fair Value	$12,886.89	$13,487.19	$14,109.99
Upside / Downside	56.58%	63.88%	71.45%

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

Boryung Corporation (003850.KS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener