DDM Analysis: 601898.SS

Valuation Snapshot

Stable Growth	$115.39 - $191.84	$179.78
Multi-Stage	$30.59 - $33.52	$32.03
Blended Fair Value	$105.91
Current Price	$11.36
Upside	832.28%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	58.33%	5.32%	0.78	0.66	0.30	0.13	0.13	0.08	0.44	0.42	0.44	0.46
YoY Growth	-	-	17.30%	119.24%	125.19%	5.51%	62.82%	-82.28%	5.87%	-5.85%	-4.30%	-0.17%
Dividend Yield	-	-	7.73%	5.82%	3.82%	1.66%	2.07%	1.95%	8.38%	8.13%	7.21%	9.03%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	12,789.60
(-) Cash Dividends Paid (M)	2,162.94
(=) Cash Retained (M)	10,626.67

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,557.92	1,598.70	959.22
Cash Retained (M)	10,626.67	10,626.67	10,626.67
(-) Cash Required (M)	-2,557.92	-1,598.70	-959.22
(=) Excess Retained (M)	8,068.75	9,027.97	9,667.45
(/) Shares Outstanding (M)	13,258.44	13,258.44	13,258.44
(=) Excess Retained per Share	0.61	0.68	0.73
LTM Dividend per Share	0.16	0.16	0.16
(+) Excess Retained per Share	0.61	0.68	0.73
(=) Adjusted Dividend	0.77	0.84	0.89
WACC / Discount Rate	6.21%	6.21%	6.21%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$115.39	$179.78	$191.84
Upside / Downside	915.77%	1,482.61%	1,588.75%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	12,789.60	13,620.93	14,506.29	15,449.20	16,453.39	17,522.86	18,048.55
Payout Ratio	16.91%	31.53%	46.15%	60.76%	75.38%	90.00%	92.50%
Projected Dividends (M)	2,162.94	4,294.59	6,694.22	9,387.65	12,402.95	15,770.58	16,694.91

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.21%	6.21%	6.21%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	4,005.69	4,043.66	4,081.63
Year 2 PV (M)	5,823.86	5,934.79	6,046.76
Year 3 PV (M)	7,617.70	7,836.38	8,059.20
Year 4 PV (M)	9,387.45	9,748.46	10,119.79
Year 5 PV (M)	11,133.34	11,671.09	12,229.41
PV of Terminal Value (M)	367,669.89	385,428.48	403,866.74
Equity Value (M)	405,637.93	424,662.85	444,403.53
Shares Outstanding (M)	13,258.44	13,258.44	13,258.44
Fair Value	$30.59	$32.03	$33.52
Upside / Downside	169.32%	181.95%	195.06%

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

China Coal Energy Company Limited (601898.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener