DDM Analysis: 600309.SS

Valuation Snapshot

Stable Growth	$349.77 - $704.20	$659.94
Multi-Stage	$109.02 - $119.31	$114.07
Blended Fair Value	$387.01
Current Price	$66.58
Upside	481.27%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	10.12%	20.99%	3.25	1.60	2.50	1.30	1.30	2.00	1.31	0.66	0.14	0.21
YoY Growth	-	-	102.45%	-36.00%	92.31%	0.00%	-35.00%	53.12%	99.23%	375.98%	-33.33%	-57.14%
Dividend Yield	-	-	4.83%	1.90%	2.61%	1.61%	1.23%	4.86%	2.78%	1.64%	0.61%	1.68%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	11,097.03
(-) Cash Dividends Paid (M)	5,003.12
(=) Cash Retained (M)	6,093.91

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,219.41	1,387.13	832.28
Cash Retained (M)	6,093.91	6,093.91	6,093.91
(-) Cash Required (M)	-2,219.41	-1,387.13	-832.28
(=) Excess Retained (M)	3,874.50	4,706.78	5,261.63
(/) Shares Outstanding (M)	3,133.93	3,133.93	3,133.93
(=) Excess Retained per Share	1.24	1.50	1.68
LTM Dividend per Share	1.60	1.60	1.60
(+) Excess Retained per Share	1.24	1.50	1.68
(=) Adjusted Dividend	2.83	3.10	3.28
WACC / Discount Rate	6.35%	6.35%	6.35%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$349.77	$659.94	$704.20
Upside / Downside	425.34%	891.20%	957.68%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	11,097.03	11,818.34	12,586.53	13,404.65	14,275.96	15,203.89	15,660.01
Payout Ratio	45.09%	54.07%	63.05%	72.03%	81.02%	90.00%	92.50%
Projected Dividends (M)	5,003.12	6,389.96	7,935.95	9,655.92	11,565.96	13,683.50	14,485.51

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.35%	6.35%	6.35%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	5,951.76	6,008.17	6,064.59
Year 2 PV (M)	6,884.83	7,015.97	7,148.34
Year 3 PV (M)	7,802.53	8,026.51	8,254.74
Year 4 PV (M)	8,705.04	9,039.81	9,384.14
Year 5 PV (M)	9,592.54	10,055.86	10,536.92
PV of Terminal Value (M)	302,726.61	317,348.42	332,529.84
Equity Value (M)	341,663.31	357,494.75	373,918.58
Shares Outstanding (M)	3,133.93	3,133.93	3,133.93
Fair Value	$109.02	$114.07	$119.31
Upside / Downside	63.74%	71.33%	79.20%

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

Analysis Mode

Ticker

Industry

Sector

Wanhua Chemical Group Co., Ltd. (600309.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener