Definitive Analysis
| Stable Growth | $771,096.97 - $1,023,940.41 | $902,335.75 |
| Multi-Stage | $1,333,289.70 - $1,474,411.87 | $1,402,392.88 |
| Blended Fair Value | $1,152,364.31 | |
| Current Price | $850,000.00 | |
| Upside | 35.57% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -33.22% | -15.87% | 1,749.99 | 1,749.97 | 1,749.97 | 1,549.97 | 1,549.97 | 13,180.11 | 8,109.34 | 7,913.14 | 7,912.53 | 7,385.66 |
| YoY Growth | - | - | 0.00% | 0.00% | 12.90% | 0.00% | -88.24% | 62.53% | 2.48% | 0.01% | 7.13% | -25.02% |
| Dividend Yield | - | - | 0.26% | 0.24% | 0.24% | 0.15% | 0.17% | 2.10% | 0.50% | 0.63% | 0.87% | 0.79% |
| Net Income To Common (M) | 160,184.19 |
| (-) Cash Dividends Paid (M) | 1,472.81 |
| (=) Cash Retained (M) | 158,711.38 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 32,036.84 | 20,023.02 | 12,013.81 |
| Cash Retained (M) | 158,711.38 | 158,711.38 | 158,711.38 |
| (-) Cash Required (M) | -32,036.84 | -20,023.02 | -12,013.81 |
| (=) Excess Retained (M) | 126,674.54 | 138,688.36 | 146,697.57 |
| (/) Shares Outstanding (M) | 0.84 | 0.84 | 0.84 |
| (=) Excess Retained per Share | 150,512.93 | 164,787.58 | 174,304.01 |
| LTM Dividend per Share | 1,749.97 | 1,749.97 | 1,749.97 |
| (+) Excess Retained per Share | 150,512.93 | 164,787.58 | 174,304.01 |
| (=) Adjusted Dividend | 152,262.90 | 166,537.55 | 176,053.98 |
| WACC / Discount Rate | 9.96% | 9.96% | 9.96% |
| Growth Rate | -8.17% | -7.17% | -6.17% |
| Fair Value | $771,096.97 | $902,335.75 | $1,023,940.41 |
| Upside / Downside | -9.28% | 6.16% | 20.46% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 160,184.19 | 148,693.66 | 138,027.38 | 128,126.22 | 118,935.31 | 110,403.70 | 113,715.81 |
| Payout Ratio | 0.92% | 18.74% | 36.55% | 54.37% | 72.18% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,472.81 | 27,858.58 | 50,451.31 | 69,659.38 | 85,852.14 | 99,363.33 | 105,187.12 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 9.96% | 9.96% | 9.96% |
| Growth Rate | -8.17% | -7.17% | -6.17% |
| Year 1 PV (M) | 25,062.49 | 25,335.42 | 25,608.36 |
| Year 2 PV (M) | 40,832.21 | 41,726.38 | 42,630.24 |
| Year 3 PV (M) | 50,719.53 | 52,394.66 | 54,106.27 |
| Year 4 PV (M) | 56,235.68 | 58,725.63 | 61,297.36 |
| Year 5 PV (M) | 58,553.41 | 61,811.86 | 65,213.80 |
| PV of Terminal Value (M) | 890,718.64 | 940,286.54 | 992,037.01 |
| Equity Value (M) | 1,122,121.95 | 1,180,280.49 | 1,240,893.04 |
| Shares Outstanding (M) | 0.84 | 0.84 | 0.84 |
| Fair Value | $1,333,289.70 | $1,402,392.88 | $1,474,411.87 |
| Upside / Downside | 56.86% | 64.99% | 73.46% |
| 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% |