DDM Analysis: 0M3Q.L

Valuation Snapshot

Stable Growth	$610.74 - $1,179.59	$1,105.45
Multi-Stage	$183.14 - $200.52	$191.67
Blended Fair Value	$648.56
Current Price	$146.32
Upside	343.25%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	20.14%	18.33%	1.76	1.55	1.37	1.06	0.85	0.70	0.54	0.46	0.42	0.38
YoY Growth	-	-	13.58%	13.26%	28.90%	24.74%	21.02%	29.22%	17.96%	9.57%	11.90%	15.07%
Dividend Yield	-	-	1.07%	0.93%	0.82%	0.56%	0.54%	0.60%	0.54%	0.55%	0.79%	0.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	2,651.00
(-) Cash Dividends Paid (M)	863.00
(=) Cash Retained (M)	1,788.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	530.20	331.38	198.83
Cash Retained (M)	1,788.00	1,788.00	1,788.00
(-) Cash Required (M)	-530.20	-331.38	-198.83
(=) Excess Retained (M)	1,257.80	1,456.63	1,589.18
(/) Shares Outstanding (M)	446.95	446.95	446.95
(=) Excess Retained per Share	2.81	3.26	3.56
LTM Dividend per Share	1.93	1.93	1.93
(+) Excess Retained per Share	2.81	3.26	3.56
(=) Adjusted Dividend	4.75	5.19	5.49
WACC / Discount Rate	6.32%	6.32%	6.32%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$610.74	$1,105.45	$1,179.59
Upside / Downside	317.40%	655.50%	706.17%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	2,651.00	2,823.32	3,006.83	3,202.27	3,410.42	3,632.10	3,741.06
Payout Ratio	32.55%	44.04%	55.53%	67.02%	78.51%	90.00%	92.50%
Projected Dividends (M)	863.00	1,243.47	1,669.76	2,146.21	2,677.55	3,268.89	3,460.48

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.32%	6.32%	6.32%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	1,158.58	1,169.56	1,180.54
Year 2 PV (M)	1,449.55	1,477.16	1,505.03
Year 3 PV (M)	1,735.96	1,785.80	1,836.57
Year 4 PV (M)	2,017.87	2,095.48	2,175.30
Year 5 PV (M)	2,295.34	2,406.20	2,521.31
PV of Terminal Value (M)	73,196.06	76,731.46	80,402.16
Equity Value (M)	81,853.36	85,665.65	89,620.91
Shares Outstanding (M)	446.95	446.95	446.95
Fair Value	$183.14	$191.67	$200.52
Upside / Downside	25.16%	30.99%	37.04%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 90 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
688267.SS	China Catalyst Holding Co., Ltd.	1.26%	$0.35	34.87%
8848.T	Leopalace21 Corporation	1.26%	$8.31	27.11%
BAUH4.SA	Excelsior Alimentos S.A.	1.26%	$1.17	21.88%
CAST.ST	Castellum AB (publ)	1.26%	$1.33	21.53%
CRH	CRH plc	1.26%	$1.60	33.62%
HBEL.BO	Humming Bird Education Limited	1.26%	$0.30	36.54%
JCI	Johnson Controls International plc	1.26%	$1.54	56.71%
KOG.OL	Kongsberg Gruppen ASA	1.26%	$3.40	42.40%
OEM-B.ST	OEM International AB (publ)	1.26%	$1.74	40.26%
SAREGAMA.BO	Saregama India Limited	1.26%	$4.51	42.77%
SDPC.JK	PT Millennium Pharmacon International Tbk	1.26%	$2.00	15.16%
002448.SZ	ZYNP Corporation	1.25%	$0.16	32.06%
0QLU.L	Basler Kantonalbank	1.25%	$1.11	12.42%
145720.KS	Dentium Co. Ltd.	1.25%	$599.51	9.81%
204320.KS	Mando Corporation	1.25%	$820.37	29.46%
3684.TWO	Grand-Tek Technology Co., Ltd.	1.25%	$0.80	29.94%
5819.KL	Hong Leong Bank Berhad	1.25%	$0.28	13.43%
600633.SS	Zhejiang Daily Digital Culture Group Co.,Ltd.	1.25%	$0.16	35.54%
600850.SS	CETC Digital Technology Co.,Ltd.	1.25%	$0.37	49.83%
603329.SS	Shanghai Ace Investment & Development Co., Ltd.	1.25%	$0.14	79.14%
603920.SS	Olympic Circuit Technology Co., Ltd	1.25%	$0.61	53.40%
6632.T	JVCKENWOOD Corporation	1.25%	$15.03	12.26%
9717.T	JASTEC Co., Ltd.	1.25%	$24.25	22.00%
9719.T	SCSK Corporation	1.25%	$70.95	36.13%
ENTER.AT	Entersoft S.A.	1.25%	$0.10	20.30%
ETN	Eaton Corporation plc	1.25%	$4.08	40.54%
IRFC.BO	Indian Railway Finance Corporation Limited	1.25%	$1.60	30.59%
LVC.WA	LiveChat Software S.A.	1.25%	$1.46	20.71%
ORSTED.CO	Ørsted A/S	1.25%	$1.60	10.19%
000514.SZ	Chongqing Yukaifa Co., Ltd	1.24%	$0.06	55.20%
002346.SZ	Shanghai Zhezhong Group Co.,Ltd	1.24%	$0.25	18.48%
002748.SZ	Jiangxi Selon Industrial Co., Ltd.	1.24%	$0.16	89.09%
1976.T	MEISEI INDUSTRIAL Co.,Ltd.	1.24%	$21.03	12.53%
300763.SZ	Ginlong Technologies Co., Ltd.	1.24%	$0.88	39.17%
600871.SS	Sinopec Oilfield Service Corporation	1.24%	$0.03	81.02%
603585.SS	Suli Co., Ltd.	1.24%	$0.23	35.70%
605116.SS	Aurisco Pharmaceutical Co.,Ltd.	1.24%	$0.31	29.49%
ALWED.PA	Wedia S.A.	1.24%	$0.38	21.38%
MNC.WA	Mennica Polska S.A.	1.24%	$0.60	6.22%
MTHH.CO	MT Højgaard Holding A/S	1.24%	$6.49	19.74%
WALL-B.ST	Wallenstam AB (publ)	1.24%	$0.51	17.40%
WRT1V.HE	Wärtsilä Oyj Abp	1.24%	$0.38	40.46%
041830.KQ	InBody Co.,Ltd	1.23%	$400.00	16.47%
0QHK.L	SeSa S.p.A.	1.23%	$1.12	27.54%
0Y5C.L	Allegion plc	1.23%	$1.99	26.83%
300726.SZ	Zhuzhou Hongda Electronics Corp.,Ltd.	1.23%	$0.63	74.98%
300916.SZ	Shenzhen Longtech Smart Control Co., Ltd.	1.23%	$0.40	42.79%
4148.TW	All Cosmos Bio-Tech Holding Corporation	1.23%	$0.48	23.21%
544.SI	CSE Global Limited	1.23%	$0.01	26.84%
600104.SS	SAIC Motor Corporation Limited	1.23%	$0.19	75.02%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Zoetis Inc. (0M3Q.L)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener