Definitive Analysis
| Stable Growth | $567,376.42 - $1,295,755.77 | $826,594.05 |
| Multi-Stage | $752,611.53 - $826,598.19 | $788,901.54 |
| Blended Fair Value | $807,747.79 | |
| Current Price | $90,300.00 | |
| Upside | 794.52% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | -5.53% | 1,715.66 | 940.35 | 807.99 | 978.31 | 152.02 | 0.00 | 2,858.89 | 3,852.40 | 3,669.92 | 2,139.10 |
| YoY Growth | - | - | 82.45% | 16.38% | -17.41% | 543.54% | 0.00% | -100.00% | -25.79% | 4.97% | 71.56% | -29.43% |
| Dividend Yield | - | - | 3.46% | 2.51% | 3.00% | 2.68% | 0.40% | 0.00% | 4.69% | 4.58% | 5.49% | 3.00% |
| Net Income To Common (M) | 327,691.19 |
| (-) Cash Dividends Paid (M) | 64,200.75 |
| (=) Cash Retained (M) | 263,490.44 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 65,538.24 | 40,961.40 | 24,576.84 |
| Cash Retained (M) | 263,490.44 | 263,490.44 | 263,490.44 |
| (-) Cash Required (M) | -65,538.24 | -40,961.40 | -24,576.84 |
| (=) Excess Retained (M) | 197,952.20 | 222,529.04 | 238,913.60 |
| (/) Shares Outstanding (M) | 11.42 | 11.42 | 11.42 |
| (=) Excess Retained per Share | 17,331.92 | 19,483.77 | 20,918.34 |
| LTM Dividend per Share | 5,621.17 | 5,621.17 | 5,621.17 |
| (+) Excess Retained per Share | 17,331.92 | 19,483.77 | 20,918.34 |
| (=) Adjusted Dividend | 22,953.09 | 25,104.94 | 26,539.51 |
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.19% | 3.19% | 4.19% |
| Fair Value | $567,376.42 | $826,594.05 | $1,295,755.77 |
| Upside / Downside | 528.32% | 815.39% | 1,334.95% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 327,691.19 | 338,133.49 | 348,908.54 | 360,026.96 | 371,499.68 | 383,337.99 | 394,838.13 |
| Payout Ratio | 19.59% | 33.67% | 47.76% | 61.84% | 75.92% | 90.00% | 92.50% |
| Projected Dividends (M) | 64,200.75 | 113,861.30 | 166,621.65 | 222,628.93 | 282,036.50 | 345,004.19 | 365,225.27 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.19% | 3.19% | 4.19% |
| Year 1 PV (M) | 106,054.60 | 107,092.45 | 108,130.30 |
| Year 2 PV (M) | 144,556.68 | 147,399.79 | 150,270.59 |
| Year 3 PV (M) | 179,904.37 | 185,237.87 | 190,675.75 |
| Year 4 PV (M) | 212,284.75 | 220,717.22 | 229,398.44 |
| Year 5 PV (M) | 241,875.14 | 253,944.02 | 266,489.93 |
| PV of Terminal Value (M) | 7,711,088.89 | 8,095,850.32 | 8,495,819.55 |
| Equity Value (M) | 8,595,764.43 | 9,010,241.67 | 9,440,784.56 |
| Shares Outstanding (M) | 11.42 | 11.42 | 11.42 |
| Fair Value | $752,611.53 | $788,901.54 | $826,598.19 |
| Upside / Downside | 733.46% | 773.65% | 815.39% |
| 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% |