Definitive Analysis
| Stable Growth | $150,928.83 - $407,925.57 | $232,107.69 |
| Multi-Stage | $107,369.11 - $117,061.63 | $112,128.40 |
| Blended Fair Value | $172,118.05 | |
| Current Price | $60,500.00 | |
| Upside | 184.49% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 18.91% | 0.00% | 4,592.83 | 4,592.83 | 3,655.74 | 2,611.24 | 2,141.22 | 1,932.32 | 2,506.79 | 1,671.20 | 4,177.99 | 0.00 |
| YoY Growth | - | - | 0.00% | 25.63% | 40.00% | 21.95% | 10.81% | -22.92% | 50.00% | -60.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 7.23% | 5.46% | 2.86% | 1.67% | 2.38% | 4.96% | 6.09% | 3.74% | 8.11% | 0.00% |
| Net Income To Common (M) | 38,075.37 |
| (-) Cash Dividends Paid (M) | 24,020.23 |
| (=) Cash Retained (M) | 14,055.14 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 7,615.07 | 4,759.42 | 2,855.65 |
| Cash Retained (M) | 14,055.14 | 14,055.14 | 14,055.14 |
| (-) Cash Required (M) | -7,615.07 | -4,759.42 | -2,855.65 |
| (=) Excess Retained (M) | 6,440.07 | 9,295.72 | 11,199.49 |
| (/) Shares Outstanding (M) | 6.01 | 6.01 | 6.01 |
| (=) Excess Retained per Share | 1,072.41 | 1,547.93 | 1,864.95 |
| LTM Dividend per Share | 3,999.87 | 3,999.87 | 3,999.87 |
| (+) Excess Retained per Share | 1,072.41 | 1,547.93 | 1,864.95 |
| (=) Adjusted Dividend | 5,072.28 | 5,547.80 | 5,864.82 |
| WACC / Discount Rate | 9.05% | 9.05% | 9.05% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $150,928.83 | $232,107.69 | $407,925.57 |
| Upside / Downside | 149.47% | 283.65% | 574.26% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 38,075.37 | 40,550.27 | 43,186.04 | 45,993.13 | 48,982.69 | 52,166.56 | 53,731.56 |
| Payout Ratio | 63.09% | 68.47% | 73.85% | 79.23% | 84.62% | 90.00% | 92.50% |
| Projected Dividends (M) | 24,020.23 | 27,764.29 | 31,893.58 | 36,442.38 | 41,447.78 | 46,949.90 | 49,701.69 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.05% | 9.05% | 9.05% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 25,222.11 | 25,461.18 | 25,700.26 |
| Year 2 PV (M) | 26,320.44 | 26,821.77 | 27,327.83 |
| Year 3 PV (M) | 27,320.68 | 28,104.96 | 28,904.11 |
| Year 4 PV (M) | 28,228.05 | 29,313.62 | 30,430.21 |
| Year 5 PV (M) | 29,047.54 | 30,450.54 | 31,907.25 |
| PV of Terminal Value (M) | 508,639.52 | 533,207.00 | 558,714.73 |
| Equity Value (M) | 644,778.34 | 673,359.08 | 702,984.38 |
| Shares Outstanding (M) | 6.01 | 6.01 | 6.01 |
| Fair Value | $107,369.11 | $112,128.40 | $117,061.63 |
| Upside / Downside | 77.47% | 85.34% | 93.49% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| DIFI.TA | Direct Finance of Direct Group (2006) Ltd | 0.05% | $27.76 | 72.89% |
| DOHOL.IS | Dogan Sirketler Grubu Holding A.S. | 0.05% | $0.01 | 1.12% |
| DSW.L | DSW Capital plc | 0.05% | $0.04 | 71.47% |
| EDIN.L | The Edinburgh Investment Trust plc | 0.05% | $0.43 | 23.09% |
| EKF.L | EKF Diagnostics Holdings plc | 0.05% | $0.01 | 49.97% |
| FNTL.L | Fintel Plc | 0.05% | $0.10 | 86.78% |
| FSTA.L | Fuller, Smith & Turner PLC | 0.05% | $0.38 | 57.02% |
| GAW.L | Games Workshop Group PLC | 0.05% | $9.37 | 89.20% |
| GCC.MX | GCC, S.A.B. de C.V. | 0.05% | $0.09 | 9.95% |
| GPE.L | Great Portland Estates Plc | 0.05% | $0.16 | 17.61% |
| HAT.L | H&T Group plc | 0.05% | $0.34 | 34.09% |
| HEFT.L | Henderson European Focus Trust plc | 0.05% | $0.09 | 64.95% |
| HWDN.L | Howden Joinery Group Plc | 0.05% | $0.42 | 45.53% |
| I3E.L | i3 Energy Plc | 0.05% | $0.01 | 15.40% |
| ISRS.TA | Isras Investment Company Ltd | 0.05% | $45.21 | 56.32% |
| IX.L | i(x) Net Zero Plc | 0.05% | $0.00 | 0.12% |
| JSE.JO | JSE Limited | 0.05% | $7.95 | 36.38% |
| JSG.L | Johnson Service Group PLC | 0.05% | $0.07 | 41.78% |
| KGH.L | Knights Group Holdings plc | 0.05% | $0.08 | 42.63% |
| KNOS.L | Kainos Group plc | 0.05% | $0.53 | 78.52% |
| LMP.L | LondonMetric Property Plc | 0.05% | $0.10 | 43.71% |
| MDTR.TA | Mediterranean Towers Ltd. | 0.05% | $0.65 | 32.16% |
| MGNS.L | Morgan Sindall Group plc | 0.05% | $2.35 | 41.65% |
| MLRN.TA | M.L.R.N Projects and Trade Ltd. | 0.05% | $0.71 | 41.84% |
| NIOX.L | NIOX Group Plc | 0.05% | $0.03 | 82.72% |
| NTBR.L | Northern Bear PLC | 0.05% | $0.07 | 24.02% |
| NWOR.L | National World Plc | 0.05% | $0.01 | 65.38% |
| PTBL.TA | Property & Building Corp. Ltd. | 0.05% | $18.00 | 65.50% |
| ROR.L | Rotork plc | 0.05% | $0.15 | 58.18% |
| SAIN.L | The Scottish American Investment Company PLC | 0.05% | $0.26 | 46.12% |
| SHRS.L | Shires Income Plc | 0.05% | $0.17 | 8.90% |
| SLARL.TA | Sella Capital Real Estate Ltd. | 0.05% | $0.55 | 43.38% |
| SMJ.L | J. Smart & Co. (Contractors) PLC | 0.05% | $0.07 | 37.45% |
| SOLI.L | Solid State plc | 0.05% | $0.08 | 47.33% |
| SSE.L | SSE plc | 0.05% | $1.03 | 39.40% |
| STB.L | Secure Trust Bank PLC | 0.05% | $0.63 | 25.00% |
| THRG.L | BlackRock Throgmorton Trust plc | 0.05% | $0.29 | 39.74% |
| TIFS.L | TI Fluid Systems plc | 0.05% | $0.11 | 47.06% |
| TMPL.L | Temple Bar Investment Trust PLC | 0.05% | $0.20 | 17.86% |
| TSTL.L | Tristel PLC | 0.05% | $0.24 | 93.73% |
| TUNE.L | Focusrite plc | 0.05% | $0.13 | 97.00% |
| UPGS.L | UP Global Sourcing Holdings plc | 0.05% | $0.07 | 25.06% |
| VOF.L | VinaCapital Vietnam Opportunity Fund Limited | 0.05% | $0.25 | 16.06% |
| WTM | White Mountains Insurance Group, Ltd. | 0.05% | $1.02 | 1.85% |
| 000230.KS | Ildong Holdings Co., Ltd. | 0.04% | $5.33 | 0.12% |
| 000729.SZ | Beijing Yanjing Brewery Co.,Ltd. | 0.04% | $0.00 | 0.84% |
| 001515.KS | SK Securities Co., Ltd. | 0.04% | $1.06 | 11.94% |
| 002159.SZ | Wuhan Sante Cableway Group Co., Ltd. | 0.04% | $0.01 | 0.86% |
| 002252.SZ | Shanghai RAAS Blood Products Co., Ltd. | 0.04% | $0.00 | 1.00% |
| 002316.SZ | Jilin Asia Link Technology Development Co.,Ltd. | 0.04% | $0.00 | 16.75% |