DDM Analysis: GAW.L

Valuation Snapshot

Stable Growth	$242.47 - $629.60	$368.31
Multi-Stage	$179.76 - $195.69	$187.58
Blended Fair Value	$277.95
Current Price	$153.30
Upside	81.31%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	29.37%	26.30%	5.19	4.19	4.14	2.83	1.83	1.43	1.52	1.17	0.72	0.39
YoY Growth	-	-	23.93%	1.32%	45.99%	54.55%	27.91%	-5.78%	29.71%	62.60%	85.41%	-22.67%
Dividend Yield	-	-	3.39%	4.14%	4.37%	3.86%	1.51%	1.84%	3.41%	4.04%	7.72%	7.78%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	347.20
(-) Cash Dividends Paid (M)	309.70
(=) Cash Retained (M)	37.50

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	69.44	43.40	26.04
Cash Retained (M)	37.50	37.50	37.50
(-) Cash Required (M)	-69.44	-43.40	-26.04
(=) Excess Retained (M)	-31.94	-5.90	11.46
(/) Shares Outstanding (M)	33.01	33.01	33.01
(=) Excess Retained per Share	-0.97	-0.18	0.35
LTM Dividend per Share	9.38	9.38	9.38
(+) Excess Retained per Share	-0.97	-0.18	0.35
(=) Adjusted Dividend	8.41	9.20	9.73
WACC / Discount Rate	9.16%	9.16%	9.16%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$242.47	$368.31	$629.60
Upside / Downside	58.16%	140.25%	310.70%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	347.20	369.77	393.80	419.40	446.66	475.69	489.96
Payout Ratio	89.20%	89.36%	89.52%	89.68%	89.84%	90.00%	92.50%
Projected Dividends (M)	309.70	330.42	352.53	376.12	401.28	428.12	453.22

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.16%	9.16%	9.16%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	299.85	302.69	305.53
Year 2 PV (M)	290.31	295.84	301.42
Year 3 PV (M)	281.08	289.15	297.37
Year 4 PV (M)	272.14	282.60	293.37
Year 5 PV (M)	263.48	276.20	289.42
PV of Terminal Value (M)	4,527.07	4,745.73	4,972.76
Equity Value (M)	5,933.93	6,192.22	6,459.87
Shares Outstanding (M)	33.01	33.01	33.01
Fair Value	$179.76	$187.58	$195.69
Upside / Downside	17.26%	22.36%	27.65%

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

Games Workshop Group PLC (GAW.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener