DDM Analysis: 000905.SZ

Valuation Snapshot

Stable Growth	$23.23 - $55.14	$51.67
Multi-Stage	$8.34 - $9.11	$8.72
Blended Fair Value	$30.20
Current Price	$8.20
Upside	268.24%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	107.79%	1.88%	0.28	0.16	0.22	0.02	0.16	0.01	0.18	0.10	0.07	0.14
YoY Growth	-	-	71.60%	-27.11%	1,360.88%	-90.64%	2,164.90%	-95.99%	80.37%	38.87%	-47.82%	-40.66%
Dividend Yield	-	-	3.67%	2.49%	3.07%	0.20%	2.27%	0.12%	1.92%	1.01%	0.52%	1.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	205.61
(-) Cash Dividends Paid (M)	164.19
(=) Cash Retained (M)	41.42

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	41.12	25.70	15.42
Cash Retained (M)	41.42	41.42	41.42
(-) Cash Required (M)	-41.12	-25.70	-15.42
(=) Excess Retained (M)	0.30	15.72	26.00
(/) Shares Outstanding (M)	741.60	741.60	741.60
(=) Excess Retained per Share	0.00	0.02	0.04
LTM Dividend per Share	0.22	0.22	0.22
(+) Excess Retained per Share	0.00	0.02	0.04
(=) Adjusted Dividend	0.22	0.24	0.26
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$23.23	$51.67	$55.14
Upside / Downside	183.25%	530.15%	572.42%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	205.61	218.97	233.21	248.37	264.51	281.70	290.15
Payout Ratio	79.86%	81.88%	83.91%	85.94%	87.97%	90.00%	92.50%
Projected Dividends (M)	164.19	179.31	195.69	213.45	232.69	253.53	268.39

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	166.77	168.35	169.93
Year 2 PV (M)	169.29	172.51	175.76
Year 3 PV (M)	171.74	176.67	181.69
Year 4 PV (M)	174.13	180.83	187.71
Year 5 PV (M)	176.46	184.98	193.83
PV of Terminal Value (M)	5,325.83	5,583.07	5,850.16
Equity Value (M)	6,184.22	6,466.41	6,759.09
Shares Outstanding (M)	741.60	741.60	741.60
Fair Value	$8.34	$8.72	$9.11
Upside / Downside	1.70%	6.34%	11.15%

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%

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Xiamen Port Development Co., Ltd. (000905.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener