Definitive Analysis
| Stable Growth | $11,686.46 - $65,469.76 | $22,276.96 |
| Multi-Stage | $9,070.22 - $9,938.83 | $9,496.45 |
| Blended Fair Value | $15,886.70 | |
| Current Price | $2,370.00 | |
| Upside | 570.32% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.42% | 4.28% | 88.16 | 128.38 | 64.77 | 65.60 | 40.74 | 32.06 | 31.81 | 39.32 | 39.10 | 49.67 |
| YoY Growth | - | - | -31.33% | 98.22% | -1.28% | 61.03% | 27.06% | 0.80% | -19.10% | 0.58% | -21.28% | -14.31% |
| Dividend Yield | - | - | 3.58% | 6.72% | 4.61% | 4.45% | 2.75% | 3.32% | 1.79% | 2.42% | 1.99% | 2.52% |
| Net Income To Common (M) | 1,501,326.41 |
| (-) Cash Dividends Paid (M) | 504,656.46 |
| (=) Cash Retained (M) | 996,669.95 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 300,265.28 | 187,665.80 | 112,599.48 |
| Cash Retained (M) | 996,669.95 | 996,669.95 | 996,669.95 |
| (-) Cash Required (M) | -300,265.28 | -187,665.80 | -112,599.48 |
| (=) Excess Retained (M) | 696,404.67 | 809,004.15 | 884,070.47 |
| (/) Shares Outstanding (M) | 4,503.58 | 4,503.58 | 4,503.58 |
| (=) Excess Retained per Share | 154.63 | 179.64 | 196.30 |
| LTM Dividend per Share | 112.06 | 112.06 | 112.06 |
| (+) Excess Retained per Share | 154.63 | 179.64 | 196.30 |
| (=) Adjusted Dividend | 266.69 | 291.69 | 308.36 |
| WACC / Discount Rate | 6.53% | 6.53% | 6.53% |
| Growth Rate | 4.16% | 5.16% | 6.16% |
| Fair Value | $11,686.46 | $22,276.96 | $65,469.76 |
| Upside / Downside | 393.10% | 839.96% | 2,662.44% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,501,326.41 | 1,578,760.62 | 1,660,188.67 | 1,745,816.55 | 1,835,860.88 | 1,930,549.45 | 1,988,465.93 |
| Payout Ratio | 33.61% | 44.89% | 56.17% | 67.45% | 78.72% | 90.00% | 92.50% |
| Projected Dividends (M) | 504,656.46 | 708,725.09 | 932,501.81 | 1,177,476.73 | 1,445,241.24 | 1,737,494.50 | 1,839,330.99 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.53% | 6.53% | 6.53% |
| Growth Rate | 4.16% | 5.16% | 6.16% |
| Year 1 PV (M) | 658,926.90 | 665,253.15 | 671,579.39 |
| Year 2 PV (M) | 806,062.19 | 821,614.21 | 837,314.83 |
| Year 3 PV (M) | 946,303.91 | 973,822.32 | 1,001,869.11 |
| Year 4 PV (M) | 1,079,886.42 | 1,121,958.69 | 1,165,248.49 |
| Year 5 PV (M) | 1,207,037.07 | 1,266,103.15 | 1,327,459.24 |
| PV of Terminal Value (M) | 36,150,228.41 | 37,919,231.65 | 39,756,819.53 |
| Equity Value (M) | 40,848,444.89 | 42,767,983.16 | 44,760,290.59 |
| Shares Outstanding (M) | 4,503.58 | 4,503.58 | 4,503.58 |
| Fair Value | $9,070.22 | $9,496.45 | $9,938.83 |
| Upside / Downside | 282.71% | 300.69% | 319.36% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| UVSP | Univest Financial Corporation | 2.69% | $0.87 | 28.95% |
| VBTX | Veritex Holdings, Inc. | 2.69% | $0.81 | 38.53% |
| CBT | Cabot Corporation | 2.68% | $1.80 | 29.00% |
| PKOH | Park-Ohio Holdings Corp. | 2.68% | $0.56 | 33.19% |
| WINA | Winmark Corporation | 2.68% | $10.76 | 96.24% |
| CHCO | City Holding Company | 2.67% | $3.20 | 36.27% |
| IDA | IDACORP, Inc. | 2.67% | $3.40 | 58.98% |
| LFVN | LifeVantage Corporation | 2.67% | $0.16 | 18.67% |
| MMM | 3M Company | 2.67% | $4.31 | 68.77% |
| MSEX | Middlesex Water Company | 2.67% | $1.34 | 56.69% |
| ONB | Old National Bancorp | 2.67% | $0.60 | 35.48% |
| 0HQU.L | CF Industries Holdings, Inc. | 2.66% | $2.07 | 24.22% |
| MGY | Magnolia Oil & Gas Corporation | 2.66% | $0.60 | 32.28% |
| PEBK | Peoples Bancorp of North Carolina, Inc. | 2.66% | $0.95 | 30.99% |
| GSBC | Great Southern Bancorp, Inc. | 2.65% | $1.63 | 26.64% |
| HD | The Home Depot, Inc. | 2.65% | $9.15 | 62.39% |
| MVBF | MVB Financial Corp. | 2.65% | $0.68 | 27.31% |
| PPG | PPG Industries, Inc. | 2.65% | $2.76 | 62.85% |
| TWMIX | American Century Emerging Markets Investor Class | 2.64% | $0.40 | 76.80% |
| 0M2A.L | Adeia Inc. | 2.63% | $0.35 | 53.29% |
| ALLY | Ally Financial Inc. | 2.63% | $1.20 | 59.56% |
| FRAF | Franklin Financial Services Corporation | 2.63% | $1.28 | 36.88% |
| LEA | Lear Corporation | 2.63% | $3.12 | 37.81% |
| VHI | Valhi, Inc. | 2.63% | $0.32 | 49.46% |
| FHI | Federated Hermes, Inc. | 2.62% | $1.37 | 27.23% |
| MKC | McCormick & Company, Incorporated | 2.62% | $1.76 | 61.04% |
| SLB | SLB N.V. | 2.62% | $1.05 | 42.94% |
| BAH | Booz Allen Hamilton Holding Corporation | 2.61% | $2.22 | 33.15% |
| GILD | Gilead Sciences, Inc. | 2.61% | $3.18 | 49.10% |
| AWR | American States Water Company | 2.60% | $1.88 | 55.89% |
| CBAN | Colony Bankcorp, Inc. | 2.59% | $0.46 | 28.75% |
| MDU | MDU Resources Group, Inc. | 2.59% | $0.51 | 62.41% |
| PLBC | Plumas Bancorp | 2.59% | $1.14 | 27.38% |
| CRD-A | Crawford & Company | 2.58% | $0.28 | 43.18% |
| WBS | Webster Financial Corporation | 2.57% | $1.64 | 29.21% |
| FANG | Diamondback Energy, Inc. | 2.56% | $3.90 | 26.98% |
| JEF | Jefferies Financial Group Inc. | 2.56% | $1.63 | 49.77% |
| UNH | UnitedHealth Group Incorporated | 2.56% | $8.60 | 44.61% |
| DOX | Amdocs Limited | 2.55% | $2.04 | 39.68% |
| DVN | Devon Energy Corporation | 2.55% | $0.96 | 22.55% |
| TGNA | TEGNA Inc. | 2.55% | $0.49 | 23.26% |
| CFFI | C&F Financial Corporation | 2.54% | $1.80 | 22.24% |
| MTH | Meritage Homes Corporation | 2.54% | $1.68 | 21.92% |
| DTM | DT Midstream, Inc. | 2.52% | $3.04 | 77.42% |
| LEVI | Levi Strauss & Co. | 2.52% | $0.52 | 34.78% |
| NFG | National Fuel Gas Company | 2.52% | $2.07 | 36.34% |
| AMNB | American National Bankshares Inc. | 2.51% | $1.20 | 48.76% |
| HIMYX | Pioneer High Income Municipal Fund Class Y | 2.51% | $0.14 | 81.31% |
| ACNB | ACNB Corporation | 2.50% | $1.18 | 37.66% |
| FMBH | First Mid Bancshares, Inc. | 2.50% | $0.96 | 26.52% |