Definitive Analysis
| Stable Growth | $831,074.52 - $2,416,309.77 | $2,264,436.12 |
| Multi-Stage | $333,380.67 - $364,777.61 | $348,791.28 |
| Blended Fair Value | $1,306,613.70 | |
| Current Price | $156,600.00 | |
| Upside | 734.36% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 8.73% | 13.54% | 4,026.46 | 3,326.47 | 3,300.35 | 2,499.98 | 2,649.98 | 2,649.98 | 1,999.99 | 1,420.11 | 2,484.16 | 1,895.21 |
| YoY Growth | - | - | 21.04% | 0.79% | 32.01% | -5.66% | 0.00% | 32.50% | 40.83% | -42.83% | 31.08% | 67.58% |
| Dividend Yield | - | - | 4.86% | 3.64% | 5.26% | 3.79% | 3.39% | 6.16% | 2.38% | 1.22% | 2.29% | 1.61% |
| Net Income To Common (M) | 2,181,829.00 |
| (-) Cash Dividends Paid (M) | 866,715.00 |
| (=) Cash Retained (M) | 1,315,114.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 436,365.80 | 272,728.63 | 163,637.18 |
| Cash Retained (M) | 1,315,114.00 | 1,315,114.00 | 1,315,114.00 |
| (-) Cash Required (M) | -436,365.80 | -272,728.63 | -163,637.18 |
| (=) Excess Retained (M) | 878,748.20 | 1,042,385.38 | 1,151,476.83 |
| (/) Shares Outstanding (M) | 179.58 | 179.58 | 179.58 |
| (=) Excess Retained per Share | 4,893.46 | 5,804.70 | 6,412.20 |
| LTM Dividend per Share | 4,826.45 | 4,826.45 | 4,826.45 |
| (+) Excess Retained per Share | 4,893.46 | 5,804.70 | 6,412.20 |
| (=) Adjusted Dividend | 9,719.91 | 10,631.16 | 11,238.65 |
| WACC / Discount Rate | 6.73% | 6.73% | 6.73% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $831,074.52 | $2,264,436.12 | $2,416,309.77 |
| Upside / Downside | 430.70% | 1,346.00% | 1,442.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,181,829.00 | 2,323,647.89 | 2,474,685.00 | 2,635,539.52 | 2,806,849.59 | 2,989,294.81 | 3,078,973.66 |
| Payout Ratio | 39.72% | 49.78% | 59.83% | 69.89% | 79.94% | 90.00% | 92.50% |
| Projected Dividends (M) | 866,715.00 | 1,156,697.80 | 1,480,716.49 | 1,841,970.57 | 2,243,931.64 | 2,690,365.33 | 2,848,050.63 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.73% | 6.73% | 6.73% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 1,073,545.46 | 1,083,721.25 | 1,093,897.04 |
| Year 2 PV (M) | 1,275,478.01 | 1,299,772.29 | 1,324,295.75 |
| Year 3 PV (M) | 1,472,598.26 | 1,514,871.26 | 1,557,945.62 |
| Year 4 PV (M) | 1,664,990.46 | 1,729,021.30 | 1,794,881.45 |
| Year 5 PV (M) | 1,852,737.61 | 1,942,225.53 | 2,035,138.36 |
| PV of Terminal Value (M) | 52,527,817.75 | 55,064,930.99 | 57,699,145.52 |
| Equity Value (M) | 59,867,167.56 | 62,634,542.61 | 65,505,303.75 |
| Shares Outstanding (M) | 179.58 | 179.58 | 179.58 |
| Fair Value | $333,380.67 | $348,791.28 | $364,777.61 |
| Upside / Downside | 112.89% | 122.73% | 132.94% |
| 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% |