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 | $259.51 | |
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 | 0.40% | 0.38% | 0.37% | 0.35% | 0.33% | 0.31% | 0.29% | 0.26% | 0.23% | 0.21% |
| 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
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|---|---|---|---|---|
| 688625.SS | 688625.SS | 1.73% | $0.71 | 35.67% |
| ATCO-A.ST | ATCO-A.ST | 1.73% | $2.90 | 51.19% |
| KAZT.ME | KAZT.ME | 1.73% | $7.20 | 9.57% |
| PROT.OL | PROT.OL | 1.73% | $9.02 | 32.47% |
| 018260.KS | 018260.KS | 1.72% | $3,013.94 | 30.15% |
| 029460.KS | 029460.KS | 1.72% | $456.82 | 6.78% |
| 3308.HK | 3308.HK | 1.72% | $0.12 | 9.52% |
| 403870.KQ | 403870.KQ | 1.72% | $593.50 | 58.19% |
| 688128.SS | 688128.SS | 1.72% | $0.50 | 38.48% |
| 9516.SR | 9516.SR | 1.72% | $0.50 | 31.24% |
| AMRT.JK | AMRT.JK | 1.72% | $34.11 | 46.22% |
| CENTEL-R.BK | CENTEL-R.BK | 1.72% | $0.59 | 47.25% |
| EMP-A.TO | EMP-A.TO | 1.72% | $0.83 | 27.46% |
| LSNG.ME | LSNG.ME | 1.72% | $0.26 | 7.85% |
| MAD.AX | MAD.AX | 1.72% | $0.13 | 28.01% |
| RUSTA.ST | RUSTA.ST | 1.72% | $1.45 | 47.44% |
| 000655.SZ | 000655.SZ | 1.71% | $0.16 | 35.18% |
| 002166.SZ | 002166.SZ | 1.71% | $0.14 | 79.28% |
| 009140.KS | 009140.KS | 1.71% | $350.02 | 24.51% |
| 009290.KS | 009290.KS | 1.71% | $100.14 | 13.46% |
| 300196.SZ | 300196.SZ | 1.71% | $0.25 | 30.44% |
| 300973.SZ | 300973.SZ | 1.71% | $0.73 | 40.03% |
| 4144.SR | 4144.SR | 1.71% | $1.12 | 83.18% |
| 601801.SS | 601801.SS | 1.71% | $0.11 | 25.98% |
| 688358.SS | 688358.SS | 1.71% | $0.51 | 42.24% |
| CAMBI.OL | CAMBI.OL | 1.71% | $0.30 | 30.04% |
| ICOS.MI | ICOS.MI | 1.71% | $0.19 | 37.87% |
| MZX.DE | MZX.DE | 1.71% | $0.24 | 28.96% |
| SKIS-B.ST | SKIS-B.ST | 1.71% | $2.80 | 39.71% |
| 000990.KS | 000990.KS | 1.70% | $1,253.06 | 20.53% |
| 001207.SZ | 001207.SZ | 1.70% | $0.43 | 27.93% |
| 002593.SZ | 002593.SZ | 1.70% | $0.10 | 81.27% |
| 300218.SZ | 300218.SZ | 1.70% | $0.28 | 35.78% |
| 300509.SZ | 300509.SZ | 1.70% | $0.22 | 66.41% |
| 300999.SZ | 300999.SZ | 1.70% | $0.49 | 69.28% |
| 301665.SZ | 301665.SZ | 1.70% | $0.48 | 46.18% |
| 600004.SS | 600004.SS | 1.70% | $0.16 | 28.12% |
| 600279.SS | 600279.SS | 1.70% | $0.09 | 21.95% |
| 601512.SS | 601512.SS | 1.70% | $0.15 | 28.77% |
| 603612.SS | 603612.SS | 1.70% | $0.40 | 27.82% |
| 000905.SZ | 000905.SZ | 1.69% | $0.22 | 79.86% |
| 000949.SZ | 000949.SZ | 1.69% | $0.09 | 86.02% |
| 600814.SS | 600814.SS | 1.69% | $0.14 | 51.31% |
| 688772.SS | 688772.SS | 1.69% | $0.36 | 74.20% |
| 7631.TWO | 7631.TWO | 1.69% | $2.16 | 47.81% |
| BFT.WA | BFT.WA | 1.69% | $60.53 | 37.69% |
| CJT.TO | CJT.TO | 1.69% | $1.45 | 17.55% |
| 002243.SZ | 002243.SZ | 1.68% | $0.17 | 88.79% |
| 161890.KS | 161890.KS | 1.68% | $1,095.50 | 22.79% |
| 300041.SZ | 300041.SZ | 1.68% | $0.19 | 68.24% |