DDM Analysis: ORNAV.HE

Valuation Snapshot

Stable Growth	$45.27 - $106.04	$66.52
Multi-Stage	$61.34 - $67.23	$64.23
Blended Fair Value	$65.38
Current Price	$65.15
Upside	0.35%
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	1.54%	2.61%	1.62	1.60	1.50	1.50	1.50	1.50	1.45	1.55	1.31	1.30
YoY Growth	-	-	1.38%	6.49%	0.00%	0.05%	-0.05%	3.58%	-6.47%	18.74%	0.16%	4.03%
Dividend Yield	-	-	2.96%	4.76%	3.65%	3.65%	4.40%	4.03%	4.26%	6.24%	2.67%	4.49%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	313.20
(-) Cash Dividends Paid (M)	229.60
(=) Cash Retained (M)	83.60

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	62.64	39.15	23.49
Cash Retained (M)	83.60	83.60	83.60
(-) Cash Required (M)	-62.64	-39.15	-23.49
(=) Excess Retained (M)	20.96	44.45	60.11
(/) Shares Outstanding (M)	140.56	140.56	140.56
(=) Excess Retained per Share	0.15	0.32	0.43
LTM Dividend per Share	1.63	1.63	1.63
(+) Excess Retained per Share	0.15	0.32	0.43
(=) Adjusted Dividend	1.78	1.95	2.06
WACC / Discount Rate	6.30%	6.30%	6.30%
Growth Rate	2.27%	3.27%	4.27%
Fair Value	$45.27	$66.52	$106.04
Upside / Downside	-30.51%	2.10%	62.76%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	313.20	323.44	334.02	344.94	356.22	367.87	378.91
Payout Ratio	73.31%	76.65%	79.98%	83.32%	86.66%	90.00%	92.50%
Projected Dividends (M)	229.60	247.91	267.16	287.42	308.71	331.09	350.49

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.30%	6.30%	6.30%
Growth Rate	2.27%	3.27%	4.27%
Year 1 PV (M)	230.96	233.22	235.48
Year 2 PV (M)	231.89	236.45	241.05
Year 3 PV (M)	232.42	239.30	246.32
Year 4 PV (M)	232.57	241.80	251.31
Year 5 PV (M)	232.38	243.97	256.01
PV of Terminal Value (M)	7,461.37	7,833.36	8,220.05
Equity Value (M)	8,621.60	9,028.11	9,450.22
Shares Outstanding (M)	140.56	140.56	140.56
Fair Value	$61.34	$64.23	$67.23
Upside / Downside	-5.85%	-1.41%	3.20%

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

Analysis Mode

Ticker

Industry

Sector

Orion Oyj (ORNAV.HE)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener