DDM Analysis: MNIN.TA

Valuation Snapshot

Stable Growth	$17.30 - $32.24	$23.40
Multi-Stage	$19.11 - $20.89	$19.98
Blended Fair Value	$21.69
Current Price	$17.90
Upside	21.20%
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	-0.90%	4.46%	0.33	0.65	0.28	0.12	0.10	0.34	0.30	0.09	0.00	3.22
YoY Growth	-	-	-50.00%	136.36%	129.17%	20.00%	-70.59%	14.29%	240.00%	0.00%	-100.00%	1,423.81%
Dividend Yield	-	-	2.35%	7.67%	3.13%	0.83%	1.24%	5.95%	4.12%	0.82%	0.00%	62.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	45.46
(-) Cash Dividends Paid (M)	24.00
(=) Cash Retained (M)	21.46

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	9.09	5.68	3.41
Cash Retained (M)	21.46	21.46	21.46
(-) Cash Required (M)	-9.09	-5.68	-3.41
(=) Excess Retained (M)	12.37	15.78	18.05
(/) Shares Outstanding (M)	39.81	39.81	39.81
(=) Excess Retained per Share	0.31	0.40	0.45
LTM Dividend per Share	0.60	0.60	0.60
(+) Excess Retained per Share	0.31	0.40	0.45
(=) Adjusted Dividend	0.91	1.00	1.06
WACC / Discount Rate	8.44%	8.44%	8.44%
Growth Rate	3.00%	4.00%	5.00%
Fair Value	$17.30	$23.40	$32.24
Upside / Downside	-3.37%	30.75%	80.12%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	45.46	47.28	49.17	51.13	53.18	55.31	56.97
Payout Ratio	52.80%	60.24%	67.68%	75.12%	82.56%	90.00%	92.50%
Projected Dividends (M)	24.00	28.48	33.28	38.41	43.91	49.78	52.69

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	8.44%	8.44%	8.44%
Growth Rate	3.00%	4.00%	5.00%
Year 1 PV (M)	26.01	26.26	26.51
Year 2 PV (M)	27.76	28.30	28.84
Year 3 PV (M)	29.26	30.12	31.00
Year 4 PV (M)	30.55	31.75	32.99
Year 5 PV (M)	31.63	33.20	34.82
PV of Terminal Value (M)	615.46	645.92	677.57
Equity Value (M)	760.66	795.54	831.74
Shares Outstanding (M)	39.81	39.81	39.81
Fair Value	$19.11	$19.98	$20.89
Upside / Downside	6.75%	11.64%	16.72%

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

Mendelson Infrastructures & Industries Ltd. (MNIN.TA)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener