Definitive Analysis
| Stable Growth | $10,644.20 - $24,212.42 | $22,690.58 |
| Multi-Stage | $3,712.72 - $4,057.78 | $3,882.10 |
| Blended Fair Value | $13,286.34 | |
| Current Price | $1,210.00 | |
| Upside | 998.04% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.26% | 22.77% | 99.88 | 124.85 | 41.95 | 26.97 | 19.99 | 36.57 | 44.70 | 30.36 | 18.17 | 25.92 |
| YoY Growth | - | - | -20.00% | 197.62% | 55.56% | 34.90% | -45.33% | -18.18% | 47.20% | 67.08% | -29.88% | 101.86% |
| Dividend Yield | - | - | 9.12% | 7.30% | 2.71% | 2.96% | 3.10% | 9.26% | 4.70% | 2.68% | 1.45% | 1.86% |
| Net Income To Common (M) | 2,405,838.14 |
| (-) Cash Dividends Paid (M) | 1,977,629.46 |
| (=) Cash Retained (M) | 428,208.68 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 481,167.63 | 300,729.77 | 180,437.86 |
| Cash Retained (M) | 428,208.68 | 428,208.68 | 428,208.68 |
| (-) Cash Required (M) | -481,167.63 | -300,729.77 | -180,437.86 |
| (=) Excess Retained (M) | -52,958.95 | 127,478.91 | 247,770.82 |
| (/) Shares Outstanding (M) | 19,760.98 | 19,760.98 | 19,760.98 |
| (=) Excess Retained per Share | -2.68 | 6.45 | 12.54 |
| LTM Dividend per Share | 100.08 | 100.08 | 100.08 |
| (+) Excess Retained per Share | -2.68 | 6.45 | 12.54 |
| (=) Adjusted Dividend | 97.40 | 106.53 | 112.62 |
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $10,644.20 | $22,690.58 | $24,212.42 |
| Upside / Downside | 779.69% | 1,775.25% | 1,901.03% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,405,838.14 | 2,562,217.61 | 2,728,761.76 | 2,906,131.27 | 3,095,029.81 | 3,296,206.74 | 3,395,092.95 |
| Payout Ratio | 82.20% | 83.76% | 85.32% | 86.88% | 88.44% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,977,629.46 | 2,146,139.47 | 2,328,200.30 | 2,524,861.59 | 2,737,252.21 | 2,966,586.07 | 3,140,460.98 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 1,996,882.37 | 2,015,810.17 | 2,034,737.96 |
| Year 2 PV (M) | 2,015,623.54 | 2,054,015.51 | 2,092,769.67 |
| Year 3 PV (M) | 2,033,860.68 | 2,092,245.51 | 2,151,737.13 |
| Year 4 PV (M) | 2,051,601.37 | 2,130,500.17 | 2,211,653.05 |
| Year 5 PV (M) | 2,068,853.12 | 2,168,779.50 | 2,272,530.30 |
| PV of Terminal Value (M) | 63,200,169.78 | 66,252,761.61 | 69,422,183.32 |
| Equity Value (M) | 73,366,990.86 | 76,714,112.46 | 80,185,611.42 |
| Shares Outstanding (M) | 19,760.98 | 19,760.98 | 19,760.98 |
| Fair Value | $3,712.72 | $3,882.10 | $4,057.78 |
| Upside / Downside | 206.84% | 220.83% | 235.35% |
| 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% |