DDM Analysis: 004140.KS

Valuation Snapshot

Stable Growth	$5,789.67 - $14,555.91	$8,705.66
Multi-Stage	$4,527.44 - $4,957.38	$4,738.45
Blended Fair Value	$6,722.05
Current Price	$2,795.00
Upside	140.50%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	26.30%	-3.99%	20.03	0.00	0.00	0.00	1.80	6.23	12.83	9.26	8.38	12.76
YoY Growth	-	-	0.00%	0.00%	0.00%	-100.00%	-71.19%	-51.43%	38.47%	10.57%	-34.35%	-57.58%
Dividend Yield	-	-	0.96%	0.00%	0.00%	0.00%	0.03%	0.37%	0.73%	0.58%	0.44%	0.61%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	12,430.75
(-) Cash Dividends Paid (M)	955.90
(=) Cash Retained (M)	11,474.85

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,486.15	1,553.84	932.31
Cash Retained (M)	11,474.85	11,474.85	11,474.85
(-) Cash Required (M)	-2,486.15	-1,553.84	-932.31
(=) Excess Retained (M)	8,988.70	9,921.01	10,542.55
(/) Shares Outstanding (M)	47.73	47.73	47.73
(=) Excess Retained per Share	188.32	207.85	220.87
LTM Dividend per Share	20.03	20.03	20.03
(+) Excess Retained per Share	188.32	207.85	220.87
(=) Adjusted Dividend	208.35	227.88	240.90
WACC / Discount Rate	8.37%	8.37%	8.37%
Growth Rate	4.61%	5.61%	6.61%
Fair Value	$5,789.67	$8,705.66	$14,555.91
Upside / Downside	107.14%	211.47%	420.78%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	12,430.75	13,127.60	13,863.52	14,640.69	15,461.42	16,328.17	16,818.01
Payout Ratio	7.69%	24.15%	40.61%	57.08%	73.54%	90.00%	92.50%
Projected Dividends (M)	955.90	3,170.55	5,630.51	8,356.30	11,370.01	14,695.35	15,556.66

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.37%	8.37%	8.37%
Growth Rate	4.61%	5.61%	6.61%
Year 1 PV (M)	2,897.97	2,925.67	2,953.37
Year 2 PV (M)	4,703.96	4,794.33	4,885.56
Year 3 PV (M)	6,381.00	6,565.76	6,754.05
Year 4 PV (M)	7,935.85	8,243.69	8,560.40
Year 5 PV (M)	9,374.99	9,831.75	10,306.14
PV of Terminal Value (M)	184,806.82	193,810.82	203,162.39
Equity Value (M)	216,100.60	226,172.02	236,621.91
Shares Outstanding (M)	47.73	47.73	47.73
Fair Value	$4,527.44	$4,738.45	$4,957.38
Upside / Downside	61.98%	69.53%	77.37%

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

Dongbang Transport Logistics Co., Ltd. (004140.KS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener