DDM Analysis: 002687.SZ

Valuation Snapshot

Stable Growth	$19.85 - $23.39	$21.92
Multi-Stage	$12.78 - $14.03	$13.39
Blended Fair Value	$17.66
Current Price	$4.52
Upside	290.63%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	13.82%	7.36%	0.20	0.15	0.14	0.13	0.00	0.10	0.11	0.11	0.11	0.14
YoY Growth	-	-	31.73%	11.86%	1.84%	340,268.75%	-99.96%	-1.37%	0.00%	0.00%	-25.00%	44.00%
Dividend Yield	-	-	4.61%	2.60%	2.91%	3.13%	0.00%	2.93%	2.18%	2.22%	1.54%	1.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	59.31
(-) Cash Dividends Paid (M)	10.81
(=) Cash Retained (M)	48.49

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	11.86	7.41	4.45
Cash Retained (M)	48.49	48.49	48.49
(-) Cash Required (M)	-11.86	-7.41	-4.45
(=) Excess Retained (M)	36.63	41.08	44.04
(/) Shares Outstanding (M)	500.58	500.58	500.58
(=) Excess Retained per Share	0.07	0.08	0.09
LTM Dividend per Share	0.02	0.02	0.02
(+) Excess Retained per Share	0.07	0.08	0.09
(=) Adjusted Dividend	0.09	0.10	0.11
WACC / Discount Rate	2.79%	2.79%	2.79%
Growth Rate	4.73%	5.73%	6.73%
Fair Value	$19.85	$21.92	$23.39
Upside / Downside	339.20%	384.97%	417.53%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	59.31	62.70	66.29	70.09	74.10	78.34	80.69
Payout Ratio	18.23%	32.59%	46.94%	61.29%	75.65%	90.00%	92.50%
Projected Dividends (M)	10.81	20.43	31.12	42.96	56.05	70.51	74.64

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	2.79%	2.79%	2.79%
Growth Rate	4.73%	5.73%	6.73%
Year 1 PV (M)	19.69	19.88	20.07
Year 2 PV (M)	28.90	29.45	30.01
Year 3 PV (M)	38.44	39.55	40.68
Year 4 PV (M)	48.33	50.21	52.13
Year 5 PV (M)	58.58	61.43	64.40
PV of Terminal Value (M)	6,201.77	6,503.57	6,817.02
Equity Value (M)	6,395.71	6,704.09	7,024.30
Shares Outstanding (M)	500.58	500.58	500.58
Fair Value	$12.78	$13.39	$14.03
Upside / Downside	182.67%	196.30%	210.45%

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

Zhejiang Giuseppe Garment Co., Ltd (002687.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener