Definitive Analysis
| Stable Growth | $211,353.65 - $544,561.32 | $320,301.27 |
| Multi-Stage | $256,076.27 - $281,047.53 | $268,325.88 |
| Blended Fair Value | $294,313.58 | |
| Current Price | $39,100.00 | |
| Upside | 652.72% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -27.86% | 213.10% | 284.10 | 85.52 | 2,608.22 | 82.34 | 559.28 | 1,454.09 | 96.20 | 77.62 | 162.08 | 238.35 |
| YoY Growth | - | - | 232.20% | -96.72% | 3,067.55% | -85.28% | -61.54% | 1,411.55% | 23.94% | -52.11% | -32.00% | 7,596,063.31% |
| Dividend Yield | - | - | 0.80% | 0.32% | 9.62% | 0.21% | 1.66% | 6.76% | 0.20% | 0.16% | 0.36% | 0.62% |
| Net Income To Common (M) | 872,328.27 |
| (-) Cash Dividends Paid (M) | 254,082.89 |
| (=) Cash Retained (M) | 618,245.39 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 174,465.65 | 109,041.03 | 65,424.62 |
| Cash Retained (M) | 618,245.39 | 618,245.39 | 618,245.39 |
| (-) Cash Required (M) | -174,465.65 | -109,041.03 | -65,424.62 |
| (=) Excess Retained (M) | 443,779.73 | 509,204.35 | 552,820.77 |
| (/) Shares Outstanding (M) | 91.92 | 91.92 | 91.92 |
| (=) Excess Retained per Share | 4,827.92 | 5,539.68 | 6,014.18 |
| LTM Dividend per Share | 2,764.19 | 2,764.19 | 2,764.19 |
| (+) Excess Retained per Share | 4,827.92 | 5,539.68 | 6,014.18 |
| (=) Adjusted Dividend | 7,592.11 | 8,303.87 | 8,778.37 |
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.63% | 3.63% | 4.63% |
| Fair Value | $211,353.65 | $320,301.27 | $544,561.32 |
| Upside / Downside | 440.55% | 719.18% | 1,292.74% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 872,328.27 | 904,010.09 | 936,842.55 | 970,867.44 | 1,006,128.07 | 1,042,669.32 | 1,073,949.40 |
| Payout Ratio | 29.13% | 41.30% | 53.48% | 65.65% | 77.83% | 90.00% | 92.50% |
| Projected Dividends (M) | 254,082.89 | 373,370.49 | 500,987.69 | 637,382.17 | 783,023.16 | 938,402.39 | 993,403.20 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.63% | 3.63% | 4.63% |
| Year 1 PV (M) | 347,792.23 | 351,180.97 | 354,569.70 |
| Year 2 PV (M) | 434,697.19 | 443,209.46 | 451,804.26 |
| Year 3 PV (M) | 515,156.97 | 530,362.56 | 545,864.46 |
| Year 4 PV (M) | 589,514.06 | 612,827.92 | 636,826.53 |
| Year 5 PV (M) | 658,094.95 | 690,786.79 | 724,765.12 |
| PV of Terminal Value (M) | 20,993,147.73 | 22,036,013.34 | 23,119,917.94 |
| Equity Value (M) | 23,538,403.14 | 24,664,381.04 | 25,833,748.02 |
| Shares Outstanding (M) | 91.92 | 91.92 | 91.92 |
| Fair Value | $256,076.27 | $268,325.88 | $281,047.53 |
| Upside / Downside | 554.93% | 586.26% | 618.79% |
| 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% |