Info obtained on $\_\_\_\_\_\_4/27/2025\_\_\_\_\_\_\_\_$

from Yahoo Finance

Price $\_\_\_95\mathrm{.}09\_\_\_\_\_\_\_\_\_\_\_$

Shares Outstanding $\_\_\_\_\_8,020,000,000\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Beta $(5$Y Monthly$)\_\_\_\_\_\_0\mathrm{.}69\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Annual Dividend Rate $\_\_\_\_\_0\mathrm{.}94\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Next Year $$ growth $\_\_\_\_\_\_12\mathrm{.}18\%\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

STD Jan $2024\_\_\_\_\_6,537,000,000\_\_\_\_\_\_\_\_\_\_$

STD Jan $2025\_\_\_7,965,000,000\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

LTD Jan $2024\_\_\_\_54,784,000,000\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

LTD Jan $2025\_\_\_\_52,149,000,000\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Interest expense $2025\_\_\_\_2,728,000,000\_\_\_\_\_\_\_\_\_\_\_$

from the annual report

Tax rate $\_\_23\mathrm{.}4\%\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

from Morningstar.com

ROE $\_\_\_\_22\mathrm{.}23\%\_\_\_\_\_\_\_\_\_\_\_\_$

Payout ratio $\_\_\_34\mathrm{.}44\%\_\_\_\_\_\_\_\_\_$

from excel doc

Risk free $\_\_\_\_0\mathrm{.}27\%\_\_\_\_\_\_\_\_\_\_$

Market premium $\_\_12\mathrm{.}71\%\_\_\_\_\_\_\_\_\_\_\_\_\_$

Calculations:

Dividend growth rate$$

historical dividends $$ g $=\_\_\_\_\_2\mathrm{.}72\%\_\_\_\_\_\_\_\_\_\_\_\_\_($attach the excel document$)$

Sustainable growth rate $$ g $=\_\_\_\_14\mathrm{.}57\%\_\_\_\_\_\_\_\_\_\_\_\_\_$

Total debt $2025=\_\_\_\_\_60,114,000,000\_\_\_\_\_\_\_\_\_\_\_\_\_$

Total debt $2024=\_\_\_\_\_\_\_61,321,000,000\_\_\_\_\_\_\_\_\_\_\_$

Cost of equity

CAPM

Ce $=\_\_\_\_\_\_\_\_3\mathrm{.}74\%\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

DDM

Using analysts$$ estimate Ce $=\_\_\_\_13\mathrm{.}29\%\_\_\_\_\_\_\_\_\_$

Using historical data Ce $=\_\_\_\_\_3\mathrm{.}74\%\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Using sustainable growth rate Ce $=\_\_\_\_\_15\mathrm{.}70\%\_\_\_\_\_\_\_\_\_\_\_\_\_$

What cost of equity are you using and why? You may choose one of the four options or use an average of two or more.

$\_\_$We are using an average of the CAPM $(9\mathrm{.}04\%)$ and the DDM based on analysts$$ growth $(13\mathrm{.}29\%),$ resulting in a total cost of equity of $11\mathrm{.}16\%.$ We chose this approach because both models provide valuable insights: CAPM reflects market$-$based risk through beta while DDM incorporates company$-$specific growth. Since the firm pays dividends expected to grow at a constant rate, the constant$-$growth model is appropriate. When both CAPM and DDM are applicable, the best estimate of cost of equity is the average of the two.$\_\_\_$

Cost of debt

Cd $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

After$-$tax Cd$=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Weights$$

Total Debt $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Mk value of equity $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

We $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Wd $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

WACC $=\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Welrarlimes.

Financial Highlights

Fiseal Year

Profitalility

Frote Mayin

$2\mathrm{.}855$

Opentring Margin $|$ran

$4\mathrm{.}135$

Managemen! Effectiveness

Betumas Astives info

$7\mathrm{.}125$

Wetum an Eqaty $($tim$$

$21\mathrm{.}415$

Inoame Statement

Sorwove find

Rewana Per Share $($tiri$)$

Quan Proft$$ns

$140\mathrm{.}2$:$38$

EBITOA

$42\mathrm{.}225$

Nat Insare Ral sa Carmen $($itmi$)$

$12\mathrm{.}4\mathrm{.}4$D

Chined EPSOMT$)$

$2\mathrm{.}41$

Oaanloly Eomines Browth $($yay

Balance Sheet

Total Canh Inos

Trading Information

Stack Prics Histsey

Sham Statistics