Dividend Discount Models Snapshot
| Model | Range | Selected |
|---|---|---|
| Stable Growth DDM | $133.25 - $243.43 | $178.02 |
| Multi-Stage DDM | $100.63 - $110.15 | $105.30 |
| Blended Fair Value | $141.66 | |
| Stock Price | $270.17 | |
Dividend History (Last 10 Years)
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 1.028 | 0.989 | 0.950 | 0.909 | 0.858 | 0.803 | 0.759 | 0.686 | 0.608 | 0.552 |
| YoY % | 3.95% | 4.05% | 4.53% | 5.97% | 6.78% | 5.80% | 10.75% | 12.79% | 10.07% | 10.69% |
| Yield | 0.38% | 0.37% | 0.35% | 0.34% | 0.32% | 0.30% | 0.28% | 0.25% | 0.22% | 0.20% |
| CAGR | Value |
|---|---|
| 5 Year | 5.05% |
| 10 Year | 7.49% |
Discounted Dividend Model - Stable Growth
| Metric | Range | Selected |
|---|---|---|
| LT Growth | 3.56% to 5.56% | 4.56% |
| WACC | 9.00% | 9.00% |
| Fair Value | $133.25 - $243.43 | $178.02 |
Calculation Details (Millions)
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (*) Adjusted Net Income | 112,010.00 | 112,010.00 | 112,010.00 |
| (=) Cash Required | 22,402.00 | 14,001.25 | 8,400.75 |
| (=) Excess Retained per Share | 5.97 | 6.53 | 6.91 |
| LTM Dividend per Share | 1.028 | 1.028 | 1.028 |
| (=) Adjusted Dividend | 7.000 | 7.560 | 7.933 |
Multi-Stage Projections (BASE Case - Millions)
| Metric | TTM | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|---|
| Net Income | 112,010.00 | 117,117.64 | 122,458.18 | 128,042.25 | 133,880.96 | 139,985.90 |
| Projected Dividends | 15,421.00 | 29,279.41 | 50,207.85 | 72,984.08 | 97,733.10 | 125,987.31 |
Multi-Stage Valuation (Millions)
| Present Values | LOW | BASE | HIGH |
|---|---|---|---|
| Year 1 PV | 27,776.37 | 28,044.59 | 28,312.80 |
| Year 2 PV | 43,279.76 | 44,119.63 | 44,967.58 |
| Year 3 PV | 57,166.46 | 58,838.54 | 60,542.92 |
| Year 4 PV | 69,559.23 | 72,285.12 | 75,090.35 |
| Year 5 PV | 81,477.91 | 85,488.48 | 89,655.43 |
| TV PV | 1,230,657.40 | 1,291,233.65 | 1,354,172.13 |
| Equity Value | 1,509,917.14 | 1,580,010.01 | 1,652,741.22 |
| Fair Value | $100.63 | $105.30 | $110.15 |
Top Dividend Stocks
| Ticker | Company Name | Yield % | DPS | Payout % |
|---|---|---|---|---|
| 002052.SZ | 002052.SZ | 0.00% | $0.00 | 0.01% |
| 002192.SZ | 002192.SZ | 0.00% | $0.00 | 0.34% |
| 002195.SZ | 002195.SZ | 0.00% | $0.00 | 1.04% |
| 002247.SZ | 002247.SZ | 0.00% | $0.00 | 0.22% |
| 002255.SZ | 002255.SZ | 0.00% | $0.00 | 0.03% |
| 002279.SZ | 002279.SZ | 0.00% | $0.00 | 0.01% |
| 002406.SZ | 002406.SZ | 0.00% | $0.00 | 0.01% |
| 002592.SZ | 002592.SZ | 0.00% | $0.00 | 0.00% |
| 002766.SZ | 002766.SZ | 0.00% | $0.00 | 0.54% |
| 002835.SZ | 002835.SZ | 0.00% | $0.00 | 0.09% |
| 014790.KS | 014790.KS | 0.00% | $0.05 | 0.03% |
| 037270.KS | 037270.KS | 0.00% | $0.00 | 0.00% |
| 045390.KQ | 045390.KQ | 0.00% | $0.00 | 0.00% |
| 0486.HK | 0486.HK | 0.00% | $0.00 | 0.00% |
| 0570.HK | 0570.HK | 0.00% | $0.00 | 0.00% |
| 071970.KS | 071970.KS | 0.00% | $0.33 | 0.01% |
| 1225.TW | 1225.TW | 0.00% | $0.00 | 0.00% |
| 145270.KS | 145270.KS | 0.00% | $0.00 | 0.00% |
| 155900.KS | 155900.KS | 0.00% | $352.08 | 53.22% |
| 2364.TW | 2364.TW | 0.00% | $0.00 | 0.00% |
| 300375.SZ | 300375.SZ | 0.00% | $0.00 | 0.01% |
| 300413.SZ | 300413.SZ | 0.00% | $0.00 | 0.18% |
| 300499.SZ | 300499.SZ | 0.00% | $0.00 | 8.22% |
| 300527.SZ | 300527.SZ | 0.00% | $0.00 | 2.70% |
| 300563.SZ | 300563.SZ | 0.00% | $0.00 | 0.03% |
| 300578.SZ | 300578.SZ | 0.00% | $0.00 | 1.02% |
| 300696.SZ | 300696.SZ | 0.00% | $0.00 | 0.46% |
| 300858.SZ | 300858.SZ | 0.00% | $0.00 | 0.03% |
| 300940.SZ | 300940.SZ | 0.00% | $0.00 | 0.18% |
| 300994.SZ | 300994.SZ | 0.00% | $0.00 | 0.08% |
| 301019.SZ | 301019.SZ | 0.00% | $0.00 | 0.00% |
| 32ID.L | 32ID.L | 0.00% | $0.00 | 3.27% |
| 3415.T | 3415.T | 0.00% | $0.00 | 0.00% |
| 3483.TWO | 3483.TWO | 0.00% | $0.00 | 0.00% |
| 4010.SR | 4010.SR | 0.00% | $0.00 | 0.13% |
| 402340.KS | 402340.KS | 0.00% | $13.52 | 0.03% |
| 4494.T | 4494.T | 0.00% | $0.02 | 0.03% |
| 4506.T | 4506.T | 0.00% | $0.01 | 0.00% |
| 4825.T | 4825.T | 0.00% | $0.11 | 0.08% |
| 5094.KL | 5094.KL | 0.00% | $0.00 | 0.00% |
| 600006.SS | 600006.SS | 0.00% | $0.00 | 0.03% |
| 600125.SS | 600125.SS | 0.00% | $0.00 | 0.03% |
| 600518.SS | 600518.SS | 0.00% | $0.00 | 4.51% |
| 600645.SS | 600645.SS | 0.00% | $0.00 | 0.16% |
| 600666.SS | 600666.SS | 0.00% | $0.00 | 0.22% |
| 600776.SS | 600776.SS | 0.00% | $0.00 | 0.02% |
| 6010.SR | 6010.SR | 0.00% | $0.00 | 0.02% |
| 601226.SS | 601226.SS | 0.00% | $0.00 | 0.15% |
| 6028.T | 6028.T | 0.00% | $36.57 | 23.28% |
| 603020.SS | 603020.SS | 0.00% | $0.00 | 0.09% |