DDM Analysis: 3085.T

Valuation Snapshot

Stable Growth	$1,699.30 - $3,672.48	$2,428.53
Multi-Stage	$1,208.47 - $1,321.32	$1,263.87
Blended Fair Value	$1,846.20
Current Price	$2,919.00
Upside	-36.75%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DPS	16.09%	23.29%	29.23	26.30	23.39	21.43	17.54	13.87	12.15	7.29	9.03	4.32
YoY Growth	-	-	11.18%	12.43%	9.14%	22.16%	26.49%	14.11%	66.81%	-19.32%	108.96%	20.00%
Dividend Yield	-	-	1.30%	1.20%	1.07%	1.48%	0.86%	0.57%	0.79%	0.46%	0.72%	0.55%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,892.00
(-) Cash Dividends Paid (M)	94.12
(=) Cash Retained (M)	2,797.88

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	578.40	361.50	216.90
Cash Retained (M)	2,797.88	2,797.88	2,797.88
(-) Cash Required (M)	-578.40	-361.50	-216.90
(=) Excess Retained (M)	2,219.48	2,436.38	2,580.98
(/) Shares Outstanding (M)	32.67	32.67	32.67
(=) Excess Retained per Share	67.94	74.58	79.01
LTM Dividend per Share	2.88	2.88	2.88
(+) Excess Retained per Share	67.94	74.58	79.01
(=) Adjusted Dividend	70.82	77.46	81.89
WACC / Discount Rate	9.90%	9.90%	9.90%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$1,699.30	$2,428.53	$3,672.48
Upside / Downside	-41.78%	-16.80%	25.81%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,892.00	3,079.98	3,280.18	3,493.39	3,720.46	3,962.29	4,081.16
Payout Ratio	3.25%	20.60%	37.95%	55.30%	72.65%	90.00%	92.50%
Projected Dividends (M)	94.12	634.59	1,244.92	1,931.91	2,702.95	3,566.06	3,775.07

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.90%	9.90%	9.90%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	572.02	577.44	582.86
Year 2 PV (M)	1,011.52	1,030.78	1,050.23
Year 3 PV (M)	1,414.94	1,455.55	1,496.94
Year 4 PV (M)	1,784.45	1,853.08	1,923.66
Year 5 PV (M)	2,122.13	2,224.63	2,331.06
PV of Terminal Value (M)	32,571.99	34,145.23	35,778.69
Equity Value (M)	39,477.05	41,286.72	43,163.43
Shares Outstanding (M)	32.67	32.67	32.67
Fair Value	$1,208.47	$1,263.87	$1,321.32
Upside / Downside	-58.60%	-56.70%	-54.73%

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

Arcland Service Holdings Co., Ltd. (3085.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener