DDM Analysis: 0R43.L

Valuation Snapshot

Stable Growth	$1,238.87 - $3,808.43	$3,569.06
Multi-Stage	$506.87 - $555.03	$530.51
Blended Fair Value	$2,049.78
Current Price	$251.50
Upside	715.02%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	0.89%	0.00%	3.38	4.48	5.04	4.22	3.65	3.23	2.65	2.11	1.75	0.39
YoY Growth	-	-	-24.64%	-10.97%	19.23%	15.56%	13.07%	22.09%	25.38%	20.37%	350.00%	0.00%
Dividend Yield	-	-	1.44%	2.07%	2.69%	1.35%	2.63%	4.61%	3.46%	3.57%	3.76%	0.93%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,179.00
(-) Cash Dividends Paid (M)	204.00
(=) Cash Retained (M)	975.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	235.80	147.38	88.43
Cash Retained (M)	975.00	975.00	975.00
(-) Cash Required (M)	-235.80	-147.38	-88.43
(=) Excess Retained (M)	739.20	827.63	886.58
(/) Shares Outstanding (M)	61.57	61.57	61.57
(=) Excess Retained per Share	12.01	13.44	14.40
LTM Dividend per Share	3.31	3.31	3.31
(+) Excess Retained per Share	12.01	13.44	14.40
(=) Adjusted Dividend	15.32	16.76	17.71
WACC / Discount Rate	6.80%	6.80%	6.80%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$1,238.87	$3,569.06	$3,808.43
Upside / Downside	392.59%	1,319.11%	1,414.29%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,179.00	1,255.64	1,337.25	1,424.17	1,516.74	1,615.33	1,663.79
Payout Ratio	17.30%	31.84%	46.38%	60.92%	75.46%	90.00%	92.50%
Projected Dividends (M)	204.00	399.82	620.24	867.62	1,144.54	1,453.80	1,539.01

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.80%	6.80%	6.80%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	370.83	374.35	377.86
Year 2 PV (M)	533.56	543.73	553.98
Year 3 PV (M)	692.26	712.13	732.38
Year 4 PV (M)	847.00	879.57	913.08
Year 5 PV (M)	997.86	1,046.05	1,096.10
PV of Terminal Value (M)	27,764.75	29,105.80	30,498.17
Equity Value (M)	31,206.27	32,661.63	34,171.57
Shares Outstanding (M)	61.57	61.57	61.57
Fair Value	$506.87	$530.51	$555.03
Upside / Downside	101.54%	110.94%	120.69%

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

NP3 Fastigheter AB (publ) (0R43.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener