DDM Analysis: 002906.SZ

Valuation Snapshot

Stable Growth	$116.26 - $284.25	$266.39
Multi-Stage	$41.47 - $45.39	$43.40
Blended Fair Value	$154.89
Current Price	$33.86
Upside	357.44%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	266.50%	-1.01%	0.36	0.27	0.21	0.19	0.09	0.00	0.23	0.22	0.28	0.28
YoY Growth	-	-	32.20%	29.95%	7.54%	116.81%	16,409.01%	-99.76%	1.68%	-19.42%	-2.35%	-29.10%
Dividend Yield	-	-	1.02%	0.97%	0.63%	0.50%	0.32%	0.00%	1.90%	1.01%	1.40%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	748.02
(-) Cash Dividends Paid (M)	291.99
(=) Cash Retained (M)	456.03

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	149.60	93.50	56.10
Cash Retained (M)	456.03	456.03	456.03
(-) Cash Required (M)	-149.60	-93.50	-56.10
(=) Excess Retained (M)	306.42	362.53	399.93
(/) Shares Outstanding (M)	523.35	523.35	523.35
(=) Excess Retained per Share	0.59	0.69	0.76
LTM Dividend per Share	0.56	0.56	0.56
(+) Excess Retained per Share	0.59	0.69	0.76
(=) Adjusted Dividend	1.14	1.25	1.32
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$116.26	$266.39	$284.25
Upside / Downside	243.36%	686.73%	739.49%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	748.02	796.64	848.43	903.57	962.31	1,024.86	1,055.60
Payout Ratio	39.04%	49.23%	59.42%	69.61%	79.81%	90.00%	92.50%
Projected Dividends (M)	291.99	392.17	504.15	629.02	767.99	922.37	976.43

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.54%	6.54%	6.54%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	364.65	368.11	371.57
Year 2 PV (M)	435.87	444.17	452.55
Year 3 PV (M)	505.66	520.18	534.97
Year 4 PV (M)	574.06	596.13	618.84
Year 5 PV (M)	641.07	672.03	704.18
PV of Terminal Value (M)	19,183.67	20,110.25	21,072.29
Equity Value (M)	21,704.98	22,710.87	23,754.39
Shares Outstanding (M)	523.35	523.35	523.35
Fair Value	$41.47	$43.40	$45.39
Upside / Downside	22.48%	28.16%	34.05%

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

Ticker

Industry

Sector

Foryou Corporation (002906.SZ)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener