DDM Analysis: 300274.SZ

Valuation Snapshot

Stable Growth	$1,251.01 - $1,473.91	$1,381.27
Multi-Stage	$844.59 - $927.02	$885.04
Blended Fair Value	$1,133.15
Current Price	$161.98
Upside	599.56%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	53.16%	45.71%	0.84	0.29	0.17	0.15	0.10	0.10	0.09	0.06	0.05	0.02
YoY Growth	-	-	188.35%	71.42%	10.15%	60.65%	-3.62%	6.02%	60.75%	24.50%	180.11%	-13.91%
Dividend Yield	-	-	1.21%	0.37%	0.23%	0.20%	0.19%	1.47%	1.09%	0.43%	0.65%	0.19%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	15,317.95
(-) Cash Dividends Paid (M)	2,414.12
(=) Cash Retained (M)	12,903.83

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	3,063.59	1,914.74	1,148.85
Cash Retained (M)	12,903.83	12,903.83	12,903.83
(-) Cash Required (M)	-3,063.59	-1,914.74	-1,148.85
(=) Excess Retained (M)	9,840.24	10,989.08	11,754.98
(/) Shares Outstanding (M)	2,066.86	2,066.86	2,066.86
(=) Excess Retained per Share	4.76	5.32	5.69
LTM Dividend per Share	1.17	1.17	1.17
(+) Excess Retained per Share	4.76	5.32	5.69
(=) Adjusted Dividend	5.93	6.48	6.86
WACC / Discount Rate	2.40%	2.40%	2.40%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$1,251.01	$1,381.27	$1,473.91
Upside / Downside	672.33%	752.74%	809.93%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	15,317.95	16,313.62	17,374.00	18,503.31	19,706.03	20,986.92	21,616.53
Payout Ratio	15.76%	30.61%	45.46%	60.30%	75.15%	90.00%	92.50%
Projected Dividends (M)	2,414.12	4,993.28	7,897.54	11,158.24	14,809.48	18,888.23	19,995.29

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	2.40%	2.40%	2.40%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	4,830.61	4,876.39	4,922.18
Year 2 PV (M)	7,391.33	7,532.11	7,674.22
Year 3 PV (M)	10,102.81	10,392.82	10,688.34
Year 4 PV (M)	12,971.83	13,470.69	13,983.80
Year 5 PV (M)	16,005.46	16,778.53	17,581.19
PV of Terminal Value (M)	1,694,355.99	1,776,194.02	1,861,164.19
Equity Value (M)	1,745,658.03	1,829,244.57	1,916,013.92
Shares Outstanding (M)	2,066.86	2,066.86	2,066.86
Fair Value	$844.59	$885.04	$927.02
Upside / Downside	421.42%	446.39%	472.30%

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

Sungrow Power Supply Co., Ltd. (300274.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener