DDM Analysis: 3017.TW

Valuation Snapshot

Stable Growth	$5,045.76 - $5,944.76	$5,571.11
Multi-Stage	$3,630.46 - $3,984.59	$3,804.22
Blended Fair Value	$4,687.66
Current Price	$743.00
Upside	530.91%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	50.00%	34.23%	6.76	4.82	3.83	2.49	1.16	0.89	1.16	1.07	0.89	0.89
YoY Growth	-	-	40.12%	26.05%	53.57%	115.38%	30.00%	-23.08%	8.33%	20.00%	0.00%	150.00%
Dividend Yield	-	-	1.49%	0.87%	2.71%	2.16%	1.72%	2.99%	3.35%	3.61%	3.44%	3.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	11,872.26
(-) Cash Dividends Paid (M)	2,683.17
(=) Cash Retained (M)	9,189.09

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	2,374.45	1,484.03	890.42
Cash Retained (M)	9,189.09	9,189.09	9,189.09
(-) Cash Required (M)	-2,374.45	-1,484.03	-890.42
(=) Excess Retained (M)	6,814.64	7,705.05	8,298.67
(/) Shares Outstanding (M)	397.17	397.17	397.17
(=) Excess Retained per Share	17.16	19.40	20.89
LTM Dividend per Share	6.76	6.76	6.76
(+) Excess Retained per Share	17.16	19.40	20.89
(=) Adjusted Dividend	23.91	26.16	27.65
WACC / Discount Rate	1.12%	1.12%	1.12%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$5,045.76	$5,571.11	$5,944.76
Upside / Downside	579.11%	649.81%	700.10%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	11,872.26	12,643.95	13,465.81	14,341.09	15,273.26	16,266.02	16,754.00
Payout Ratio	22.60%	36.08%	49.56%	63.04%	76.52%	90.00%	92.50%
Projected Dividends (M)	2,683.17	4,561.97	6,673.68	9,040.64	11,687.11	14,639.42	15,497.45

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	1.12%	1.12%	1.12%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	4,469.28	4,511.64	4,554.00
Year 2 PV (M)	6,405.23	6,527.23	6,650.39
Year 3 PV (M)	8,500.67	8,744.69	8,993.34
Year 4 PV (M)	10,765.78	11,179.80	11,605.65
Year 5 PV (M)	13,211.34	13,849.45	14,511.98
PV of Terminal Value (M)	1,398,566.67	1,466,117.96	1,536,254.60
Equity Value (M)	1,441,918.96	1,510,930.77	1,582,569.96
Shares Outstanding (M)	397.17	397.17	397.17
Fair Value	$3,630.46	$3,804.22	$3,984.59
Upside / Downside	388.62%	412.01%	436.28%

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

Asia Vital Components Co., Ltd. (3017.TW)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener