DDM Analysis: 9099.T

Valuation Snapshot

Stable Growth	$2,437.42 - $5,238.53	$3,477.16
Multi-Stage	$10,727.70 - $11,839.39	$11,272.55
Blended Fair Value	$7,374.86
Current Price	$5,730.00
Upside	28.71%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	8.40%	0.00%	33.53	30.45	24.33	24.42	24.64	22.40	22.49	24.82	16.33	0.00
YoY Growth	-	-	10.12%	25.14%	-0.36%	-0.89%	10.02%	-0.39%	-9.40%	52.02%	0.00%	0.00%
Dividend Yield	-	-	0.59%	2.41%	2.30%	1.45%	1.56%	1.63%	1.69%	1.87%	1.53%	0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	3,084.00
(-) Cash Dividends Paid (M)	209.00
(=) Cash Retained (M)	2,875.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	616.80	385.50	231.30
Cash Retained (M)	2,875.00	2,875.00	2,875.00
(-) Cash Required (M)	-616.80	-385.50	-231.30
(=) Excess Retained (M)	2,258.20	2,489.50	2,643.70
(/) Shares Outstanding (M)	22.73	22.73	22.73
(=) Excess Retained per Share	99.37	109.55	116.33
LTM Dividend per Share	9.20	9.20	9.20
(+) Excess Retained per Share	99.37	109.55	116.33
(=) Adjusted Dividend	108.57	118.74	125.53
WACC / Discount Rate	3.95%	3.95%	3.95%
Growth Rate	-0.48%	0.52%	1.52%
Fair Value	$2,437.42	$3,477.16	$5,238.53
Upside / Downside	-57.46%	-39.32%	-8.58%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	3,084.00	3,099.96	3,115.99	3,132.12	3,148.32	3,164.61	3,259.55
Payout Ratio	6.78%	23.42%	40.07%	56.71%	73.36%	90.00%	92.50%
Projected Dividends (M)	209.00	726.06	1,248.46	1,776.25	2,309.46	2,848.15	3,015.08

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	3.95%	3.95%	3.95%
Growth Rate	-0.48%	0.52%	1.52%
Year 1 PV (M)	691.52	698.47	705.42
Year 2 PV (M)	1,132.51	1,155.38	1,178.48
Year 3 PV (M)	1,534.63	1,581.36	1,629.02
Year 4 PV (M)	1,900.40	1,977.94	2,057.83
Year 5 PV (M)	2,232.18	2,346.61	2,465.68
PV of Terminal Value (M)	236,300.99	248,414.35	261,019.45
Equity Value (M)	243,792.22	256,174.10	269,055.89
Shares Outstanding (M)	22.73	22.73	22.73
Fair Value	$10,727.70	$11,272.55	$11,839.39
Upside / Downside	87.22%	96.73%	106.62%

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

Chilled & Frozen Logistics Holdings Co., Ltd. (9099.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener