DDM Analysis: 603129.SS

Valuation Snapshot

Stable Growth	$408.24 - $2,336.48	$766.21
Multi-Stage	$239.19 - $261.49	$250.14
Blended Fair Value	$508.17
Current Price	$268.25
Upside	89.44%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	49.06%	31.26%	2.06	1.38	0.81	0.72	0.34	0.28	0.26	0.00	0.02	0.11
YoY Growth	-	-	49.42%	69.94%	12.52%	110.80%	22.20%	6.67%	5,209.60%	-78.39%	-78.85%	-20.30%
Dividend Yield	-	-	1.10%	1.12%	0.64%	0.71%	0.27%	0.91%	1.11%	0.02%	0.12%	0.55%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,805.82
(-) Cash Dividends Paid (M)	589.42
(=) Cash Retained (M)	1,216.39

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	361.16	225.73	135.44
Cash Retained (M)	1,216.39	1,216.39	1,216.39
(-) Cash Required (M)	-361.16	-225.73	-135.44
(=) Excess Retained (M)	855.23	990.67	1,080.96
(/) Shares Outstanding (M)	153.71	153.71	153.71
(=) Excess Retained per Share	5.56	6.45	7.03
LTM Dividend per Share	3.83	3.83	3.83
(+) Excess Retained per Share	5.56	6.45	7.03
(=) Adjusted Dividend	9.40	10.28	10.87
WACC / Discount Rate	7.93%	7.93%	7.93%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$408.24	$766.21	$2,336.48
Upside / Downside	52.19%	185.63%	771.01%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,805.82	1,923.20	2,048.20	2,181.34	2,323.12	2,474.13	2,548.35
Payout Ratio	32.64%	44.11%	55.58%	67.06%	78.53%	90.00%	92.50%
Projected Dividends (M)	589.42	848.36	1,138.48	1,462.72	1,824.30	2,226.71	2,357.22

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	7.93%	7.93%	7.93%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	778.66	786.04	793.42
Year 2 PV (M)	959.08	977.35	995.79
Year 3 PV (M)	1,130.98	1,163.45	1,196.53
Year 4 PV (M)	1,294.67	1,344.46	1,395.67
Year 5 PV (M)	1,450.41	1,520.46	1,593.20
PV of Terminal Value (M)	31,151.56	32,656.20	34,218.41
Equity Value (M)	36,765.37	38,447.96	40,193.03
Shares Outstanding (M)	153.71	153.71	153.71
Fair Value	$239.19	$250.14	$261.49
Upside / Downside	-10.83%	-6.75%	-2.52%

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 Cfmoto Power Co.,Ltd (603129.SS)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener