Definitive Analysis
| Stable Growth | $650,899.88 - $2,093,268.97 | $1,961,699.58 |
| Multi-Stage | $277,260.44 - $303,406.05 | $290,093.44 |
| Blended Fair Value | $1,125,896.51 | |
| Current Price | $71,700.00 | |
| Upside | 1,470.29% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 9.46% | 28.69% | 2,199.97 | 1,699.98 | 3,799.95 | 2,201.15 | 1,699.98 | 1,399.98 | 999.99 | 556.35 | 785.05 | 530.61 |
| YoY Growth | - | - | 29.41% | -55.26% | 72.63% | 29.48% | 21.43% | 40.00% | 79.74% | -29.13% | 47.95% | 200.45% |
| Dividend Yield | - | - | 4.86% | 4.34% | 11.99% | 5.25% | 4.31% | 4.77% | 2.94% | 1.41% | 2.33% | 1.36% |
| Net Income To Common (M) | 939,944.87 |
| (-) Cash Dividends Paid (M) | 312,550.00 |
| (=) Cash Retained (M) | 627,394.87 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 187,988.97 | 117,493.11 | 70,495.87 |
| Cash Retained (M) | 627,394.87 | 627,394.87 | 627,394.87 |
| (-) Cash Required (M) | -187,988.97 | -117,493.11 | -70,495.87 |
| (=) Excess Retained (M) | 439,405.89 | 509,901.76 | 556,899.00 |
| (/) Shares Outstanding (M) | 89.30 | 89.30 | 89.30 |
| (=) Excess Retained per Share | 4,920.49 | 5,709.91 | 6,236.18 |
| LTM Dividend per Share | 3,499.95 | 3,499.95 | 3,499.95 |
| (+) Excess Retained per Share | 4,920.49 | 5,709.91 | 6,236.18 |
| (=) Adjusted Dividend | 8,420.44 | 9,209.86 | 9,736.13 |
| WACC / Discount Rate | 6.86% | 6.86% | 6.86% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $650,899.88 | $1,961,699.58 | $2,093,268.97 |
| Upside / Downside | 807.81% | 2,635.98% | 2,819.48% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 939,944.87 | 1,001,041.28 | 1,066,108.97 | 1,135,406.05 | 1,209,207.44 | 1,287,805.93 | 1,326,440.10 |
| Payout Ratio | 33.25% | 44.60% | 55.95% | 67.30% | 78.65% | 90.00% | 92.50% |
| Projected Dividends (M) | 312,550.00 | 446,480.03 | 596,500.44 | 764,137.13 | 951,046.37 | 1,159,025.33 | 1,226,957.10 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.86% | 6.86% | 6.86% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 413,875.92 | 417,798.92 | 421,721.91 |
| Year 2 PV (M) | 512,562.72 | 522,325.60 | 532,180.58 |
| Year 3 PV (M) | 608,661.27 | 626,133.75 | 643,937.45 |
| Year 4 PV (M) | 702,221.60 | 729,227.06 | 757,004.05 |
| Year 5 PV (M) | 793,292.85 | 831,609.19 | 871,391.99 |
| PV of Terminal Value (M) | 21,729,089.23 | 22,778,612.37 | 23,868,303.22 |
| Equity Value (M) | 24,759,703.60 | 25,905,706.89 | 27,094,539.20 |
| Shares Outstanding (M) | 89.30 | 89.30 | 89.30 |
| Fair Value | $277,260.44 | $290,093.44 | $303,406.05 |
| Upside / Downside | 286.70% | 304.59% | 323.16% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| HWBK | Hawthorn Bancshares, Inc. | 2.27% | $0.77 | 24.18% |
| UTMD | Utah Medical Products, Inc. | 2.27% | $1.28 | 35.35% |
| DKS | DICK'S Sporting Goods, Inc. | 2.26% | $4.52 | 38.61% |
| EML | The Eastern Company | 2.26% | $0.44 | 37.05% |
| SBCF | Seacoast Banking Corporation of Florida | 2.26% | $0.71 | 43.09% |
| WMK | Weis Markets, Inc. | 2.26% | $1.45 | 35.88% |
| 0JYA.L | Marathon Petroleum Corporation | 2.25% | $3.72 | 74.60% |
| FSBC | Five Star Bancorp | 2.25% | $0.80 | 29.79% |
| IBM | International Business Machines Corporation | 2.25% | $6.56 | 78.75% |
| 0KYZ.L | SBA Communications Corporation | 2.24% | $4.32 | 54.40% |
| BPOP | Popular, Inc. | 2.24% | $2.82 | 24.06% |
| MFIN | Medallion Financial Corp. | 2.24% | $0.23 | 12.50% |
| MS | Morgan Stanley | 2.24% | $4.07 | 40.12% |
| FXNC | First National Corporation | 2.23% | $0.55 | 86.28% |
| BAC | Bank of America Corporation | 2.22% | $1.24 | 31.97% |
| SSB | SouthState Corporation | 2.22% | $2.09 | 30.58% |
| VLGEA | Village Super Market, Inc. | 2.22% | $0.77 | 20.42% |
| WWW | Wolverine World Wide, Inc. | 2.22% | $0.41 | 37.79% |
| CCBG | Capital City Bank Group, Inc. | 2.21% | $0.93 | 26.22% |
| CG | The Carlyle Group Inc. | 2.20% | $1.34 | 76.25% |
| NHI | National Health Investors, Inc. | 2.20% | $1.69 | 54.58% |
| VNO | Vornado Realty Trust | 2.20% | $0.73 | 15.58% |
| BANC | Banc of California, Inc. | 2.19% | $0.43 | 32.44% |
| EBTC | Enterprise Bancorp, Inc. | 2.19% | $0.87 | 26.66% |
| RHP | Ryman Hospitality Properties, Inc. | 2.19% | $2.09 | 57.31% |
| CDP | COPT Defense Properties | 2.18% | $0.60 | 45.15% |
| FDS | FactSet Research Systems Inc. | 2.18% | $6.20 | 39.64% |
| ISBA | Isabella Bank Corporation | 2.18% | $1.10 | 44.52% |
| WH | Wyndham Hotels & Resorts, Inc. | 2.18% | $1.64 | 37.28% |
| EFSC | Enterprise Financial Services Corp | 2.17% | $1.17 | 22.34% |
| ETH | Grayscale Ethereum Mini Trust | 2.17% | $0.64 | 34.57% |
| SEM | Select Medical Holdings Corporation | 2.17% | $0.32 | 36.19% |
| BFST | Business First Bancshares, Inc. | 2.16% | $0.56 | 20.21% |
| CWBC | Community West Bancshares | 2.16% | $0.48 | 26.89% |
| EHTH | eHealth, Inc. | 2.16% | $0.09 | 5.60% |
| TPL | Texas Pacific Land Corporation | 2.16% | $6.42 | 31.02% |
| CBSH | Commerce Bancshares, Inc. | 2.15% | $1.12 | 26.40% |
| COLM | Columbia Sportswear Company | 2.15% | $1.20 | 35.55% |
| HTH | Hilltop Holdings Inc. | 2.15% | $0.73 | 28.46% |
| NATH | Nathan's Famous, Inc. | 2.15% | $1.98 | 35.76% |
| RCKY | Rocky Brands, Inc. | 2.15% | $0.62 | 22.50% |
| BDX | Becton, Dickinson and Company | 2.14% | $4.17 | 71.28% |
| CI | Cigna Corporation | 2.14% | $5.96 | 26.01% |
| FBIZ | First Business Financial Services, Inc. | 2.14% | $1.15 | 18.19% |
| JBSS | John B. Sanfilippo & Son, Inc. | 2.14% | $1.49 | 26.50% |
| JNPR | Juniper Networks, Inc. | 2.14% | $0.86 | 82.37% |
| POOL | Pool Corporation | 2.14% | $4.92 | 44.68% |
| CSCO | Cisco Systems, Inc. | 2.13% | $1.62 | 62.56% |
| CSTR | CapStar Financial Holdings, Inc. | 2.13% | $0.43 | 30.48% |
| HTLF | Heartland Financial USA, Inc. | 2.13% | $1.38 | 69.73% |