DDM Analysis: 002003.SZ

Valuation Snapshot

Stable Growth	$58.49 - $115.17	$107.93
Multi-Stage	$18.06 - $19.76	$18.89
Blended Fair Value	$63.41
Current Price	$10.18
Upside	522.88%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	22.96%	14.32%	0.69	0.35	0.37	0.28	0.28	0.25	0.26	0.20	0.18	0.18
YoY Growth	-	-	97.76%	-5.41%	31.75%	1.58%	12.26%	-6.92%	34.61%	8.35%	0.49%	-0.59%
Dividend Yield	-	-	5.77%	3.28%	3.95%	2.95%	5.12%	5.60%	4.24%	2.92%	2.71%	2.73%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	660.07
(-) Cash Dividends Paid (M)	369.18
(=) Cash Retained (M)	290.89

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	132.01	82.51	49.51
Cash Retained (M)	290.89	290.89	290.89
(-) Cash Required (M)	-132.01	-82.51	-49.51
(=) Excess Retained (M)	158.88	208.38	241.39
(/) Shares Outstanding (M)	1,139.85	1,139.85	1,139.85
(=) Excess Retained per Share	0.14	0.18	0.21
LTM Dividend per Share	0.32	0.32	0.32
(+) Excess Retained per Share	0.14	0.18	0.21
(=) Adjusted Dividend	0.46	0.51	0.54
WACC / Discount Rate	6.34%	6.34%	6.34%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$58.49	$107.93	$115.17
Upside / Downside	474.57%	960.19%	1,031.29%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	660.07	702.97	748.67	797.33	849.16	904.35	931.48
Payout Ratio	55.93%	62.74%	69.56%	76.37%	83.19%	90.00%	92.50%
Projected Dividends (M)	369.18	441.07	520.76	608.94	706.38	813.92	861.62

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.34%	6.34%	6.34%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	410.90	414.80	418.69
Year 2 PV (M)	451.94	460.55	469.24
Year 3 PV (M)	492.32	506.45	520.85
Year 4 PV (M)	532.03	552.49	573.53
Year 5 PV (M)	571.09	598.67	627.31
PV of Terminal Value (M)	18,124.44	18,999.86	19,908.78
Equity Value (M)	20,582.72	21,532.82	22,518.41
Shares Outstanding (M)	1,139.85	1,139.85	1,139.85
Fair Value	$18.06	$18.89	$19.76
Upside / Downside	77.38%	85.57%	94.06%

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

Zhejiang Weixing Industrial Development Co., Ltd. (002003.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener