DDM Analysis: 601608.SS

Valuation Snapshot

Stable Growth	$0.89 - $1.42	$1.13
Multi-Stage	$0.98 - $1.08	$1.03
Blended Fair Value	$1.08
Current Price	$5.38
Upside	-79.92%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	65.22%	-8.29%	0.04	0.03	0.04	0.05	0.06	0.00	0.10	0.07	0.09	0.10
YoY Growth	-	-	43.13%	-40.33%	-12.98%	-21.42%	2,008.26%	-97.07%	39.73%	-19.79%	-13.15%	19.87%
Dividend Yield	-	-	0.77%	0.57%	1.13%	1.36%	1.72%	0.09%	1.91%	2.03%	1.54%	1.89%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	375.31
(-) Cash Dividends Paid (M)	34.06
(=) Cash Retained (M)	341.25

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	75.06	46.91	28.15
Cash Retained (M)	341.25	341.25	341.25
(-) Cash Required (M)	-75.06	-46.91	-28.15
(=) Excess Retained (M)	266.19	294.34	313.10
(/) Shares Outstanding (M)	4,576.92	4,576.92	4,576.92
(=) Excess Retained per Share	0.06	0.06	0.07
LTM Dividend per Share	0.01	0.01	0.01
(+) Excess Retained per Share	0.06	0.06	0.07
(=) Adjusted Dividend	0.07	0.07	0.08
WACC / Discount Rate	9.83%	9.83%	9.83%
Growth Rate	2.27%	3.27%	4.27%
Fair Value	$0.89	$1.13	$1.42
Upside / Downside	-83.50%	-79.00%	-73.55%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	375.31	387.60	400.29	413.40	426.94	440.92	454.15
Payout Ratio	9.07%	25.26%	41.44%	57.63%	73.81%	90.00%	92.50%
Projected Dividends (M)	34.06	97.91	165.90	238.24	315.15	396.83	420.09

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.83%	9.83%	9.83%
Growth Rate	2.27%	3.27%	4.27%
Year 1 PV (M)	88.28	89.14	90.01
Year 2 PV (M)	134.87	137.53	140.20
Year 3 PV (M)	174.64	179.81	185.09
Year 4 PV (M)	208.29	216.56	225.07
Year 5 PV (M)	236.48	248.27	260.53
PV of Terminal Value (M)	3,663.62	3,846.26	4,036.12
Equity Value (M)	4,506.19	4,717.57	4,937.01
Shares Outstanding (M)	4,576.92	4,576.92	4,576.92
Fair Value	$0.98	$1.03	$1.08
Upside / Downside	-81.70%	-80.84%	-79.95%

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

CITIC Heavy Industries Co., Ltd. (601608.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener