DDM Analysis: 4041.T

Valuation Snapshot

Stable Growth	$27,729.17 - $55,986.19	$52,467.26
Multi-Stage	$8,588.60 - $9,403.46	$8,988.53
Blended Fair Value	$30,727.89
Current Price	$3,450.00
Upside	790.66%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	29.52%	18.47%	120.14	136.66	108.87	63.81	48.00	32.96	32.94	32.96	36.27	41.70
YoY Growth	-	-	-12.09%	25.52%	70.63%	32.93%	45.64%	0.06%	-0.06%	-9.14%	-13.01%	88.94%
Dividend Yield	-	-	3.96%	5.19%	4.21%	2.92%	2.99%	2.33%	2.35%	2.15%	2.34%	4.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	15,460.00
(-) Cash Dividends Paid (M)	4,950.00
(=) Cash Retained (M)	10,510.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	3,092.00	1,932.50	1,159.50
Cash Retained (M)	10,510.00	10,510.00	10,510.00
(-) Cash Required (M)	-3,092.00	-1,932.50	-1,159.50
(=) Excess Retained (M)	7,418.00	8,577.50	9,350.50
(/) Shares Outstanding (M)	54.92	54.92	54.92
(=) Excess Retained per Share	135.08	156.19	170.27
LTM Dividend per Share	90.14	90.14	90.14
(+) Excess Retained per Share	135.08	156.19	170.27
(=) Adjusted Dividend	225.21	246.33	260.40
WACC / Discount Rate	6.36%	6.36%	6.36%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$27,729.17	$52,467.26	$55,986.19
Upside / Downside	703.74%	1,420.79%	1,522.79%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	15,460.00	16,464.90	17,535.12	18,674.90	19,888.77	21,181.54	21,816.99
Payout Ratio	32.02%	43.61%	55.21%	66.81%	78.40%	90.00%	92.50%
Projected Dividends (M)	4,950.00	7,181.08	9,681.29	12,476.19	15,593.52	19,063.39	20,180.71

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.36%	6.36%	6.36%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	6,688.48	6,751.88	6,815.27
Year 2 PV (M)	8,398.62	8,558.59	8,720.07
Year 3 PV (M)	10,080.78	10,370.16	10,665.03
Year 4 PV (M)	11,735.28	12,186.59	12,650.79
Year 5 PV (M)	13,362.47	14,007.89	14,678.00
PV of Terminal Value (M)	421,396.60	441,750.21	462,882.81
Equity Value (M)	471,662.23	493,625.32	516,411.97
Shares Outstanding (M)	54.92	54.92	54.92
Fair Value	$8,588.60	$8,988.53	$9,403.46
Upside / Downside	148.94%	160.54%	172.56%

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

Nippon Soda Co., Ltd. (4041.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener