DDM Analysis: 603063.SS

Valuation Snapshot

Stable Growth	$196.85 - $231.92	$217.35
Multi-Stage	$137.76 - $151.21	$144.36
Blended Fair Value	$180.86
Current Price	$35.75
Upside	405.89%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	72.30%	-1.09%	0.25	0.12	0.12	0.13	0.02	0.02	0.13	0.04	0.02	0.00
YoY Growth	-	-	108.98%	-0.50%	-5.78%	666.11%	1.19%	-87.42%	194.00%	102.02%	12,152.48%	-99.94%
Dividend Yield	-	-	0.77%	0.51%	0.44%	0.36%	0.11%	0.20%	1.10%	0.27%	0.12%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	521.61
(-) Cash Dividends Paid (M)	76.82
(=) Cash Retained (M)	444.78

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	104.32	65.20	39.12
Cash Retained (M)	444.78	444.78	444.78
(-) Cash Required (M)	-104.32	-65.20	-39.12
(=) Excess Retained (M)	340.46	379.58	405.66
(/) Shares Outstanding (M)	447.28	447.28	447.28
(=) Excess Retained per Share	0.76	0.85	0.91
LTM Dividend per Share	0.17	0.17	0.17
(+) Excess Retained per Share	0.76	0.85	0.91
(=) Adjusted Dividend	0.93	1.02	1.08
WACC / Discount Rate	1.65%	1.65%	1.65%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$196.85	$217.35	$231.92
Upside / Downside	450.63%	507.97%	548.74%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	521.61	555.51	591.62	630.07	671.03	714.64	736.08
Payout Ratio	14.73%	29.78%	44.84%	59.89%	74.95%	90.00%	92.50%
Projected Dividends (M)	76.82	165.44	265.26	377.36	502.91	643.18	680.88

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	1.65%	1.65%	1.65%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	161.22	162.75	164.28
Year 2 PV (M)	251.91	256.70	261.55
Year 3 PV (M)	349.22	359.24	369.46
Year 4 PV (M)	453.54	470.98	488.92
Year 5 PV (M)	565.25	592.55	620.90
PV of Terminal Value (M)	59,837.66	62,727.85	65,728.64
Equity Value (M)	61,618.79	64,570.07	67,633.74
Shares Outstanding (M)	447.28	447.28	447.28
Fair Value	$137.76	$144.36	$151.21
Upside / Downside	285.36%	303.81%	322.97%

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

Shenzhen Hopewind Electric Co., Ltd. (603063.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener