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 | $263.70 | |
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 | 0.39% | 0.37% | 0.36% | 0.34% | 0.33% | 0.30% | 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
| Ticker | Company Name | Yield % | DPS | Payout % |
|---|---|---|---|---|
| ACIC | ACIC | 4.24% | $0.48 | 28.28% |
| NCDL | NCDL | 4.24% | $0.57 | 30.88% |
| ES | ES | 4.23% | $2.88 | 79.84% |
| ISBC | ISBC | 4.21% | $0.58 | 44.24% |
| KMI | KMI | 4.21% | $1.17 | 95.05% |
| PWOD | PWOD | 4.17% | $1.25 | 45.44% |
| DDS | DDS | 4.16% | $26.50 | 71.17% |
| RLI | RLI | 4.16% | $2.60 | 67.96% |
| TFC | TFC | 4.16% | $2.07 | 53.19% |
| RMBI | RMBI | 4.15% | $0.58 | 54.33% |
| PR | PR | 4.14% | $0.60 | 52.90% |
| RILYT | RILYT | 4.13% | $0.58 | 56.91% |
| DGICA | DGICA | 4.12% | $0.80 | 28.85% |
| AUBN | AUBN | 4.11% | $1.08 | 76.62% |
| FHB | FHB | 4.11% | $1.06 | 50.97% |
| POR | POR | 4.09% | $1.98 | 72.28% |
| NEWTL | NEWTL | 4.08% | $1.02 | 44.14% |
| NEWTG | NEWTG | 4.06% | $1.02 | 44.14% |
| NEWTZ | NEWTZ | 4.05% | $1.02 | 44.14% |
| LKQ | LKQ | 4.04% | $1.21 | 44.76% |
| NWE | NWE | 4.04% | $2.62 | 74.07% |
| PXD | PXD | 4.00% | $10.80 | 54.25% |
| HAFC | HAFC | 3.99% | $1.07 | 44.22% |
| KSS | KSS | 3.99% | $0.85 | 50.52% |
| APA | APA | 3.98% | $1.01 | 24.12% |
| NWN | NWN | 3.98% | $1.86 | 76.25% |
| HFWA | HFWA | 3.97% | $0.94 | 56.54% |
| WSBC | WSBC | 3.97% | $1.32 | 65.39% |
| FULT | FULT | 3.96% | $0.77 | 39.22% |
| REYN | REYN | 3.96% | $0.91 | 63.16% |
| MSM | MSM | 3.95% | $3.39 | 95.14% |
| RF-PF | RF-PF | 3.95% | $1.01 | 41.98% |
| NEWTI | NEWTI | 3.94% | $0.99 | 42.24% |
| BOH | BOH | 3.93% | $2.69 | 58.42% |
| DCOM | DCOM | 3.93% | $1.17 | 86.59% |
| OGE | OGE | 3.93% | $1.69 | 67.72% |
| ASIEX | ASIEX | 3.92% | $0.35 | 96.64% |
| ESS | ESS | 3.90% | $10.03 | 76.31% |
| WABC | WABC | 3.90% | $1.86 | 39.32% |
| NJR | NJR | 3.88% | $1.78 | 53.65% |
| XHR | XHR | 3.88% | $0.56 | 93.99% |
| ARTNA | ARTNA | 3.87% | $1.22 | 55.68% |
| FFBC | FFBC | 3.87% | $0.97 | 38.17% |
| PNW | PNW | 3.87% | $3.41 | 69.92% |
| UE | UE | 3.87% | $0.74 | 82.23% |
| NECB | NECB | 3.86% | $0.88 | 27.20% |
| SCSCX | SCSCX | 3.86% | $2.80 | 37.43% |
| BBWI | BBWI | 3.85% | $0.80 | 24.18% |
| BHB | BHB | 3.85% | $1.20 | 54.11% |
| UGI | UGI | 3.85% | $1.45 | 47.35% |