Definitive Analysis
| Stable Growth | $602,458.23 - $1,196,436.59 | $1,121,236.30 |
| Multi-Stage | $189,859.34 - $207,563.39 | $198,549.64 |
| Blended Fair Value | $659,892.97 | |
| Current Price | $45,950.00 | |
| Upside | 1,336.11% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 12.17% | 9.71% | 4,299.60 | 4,965.71 | 3,303.99 | 1,900.88 | 2,686.10 | 2,420.92 | 2,144.46 | 1,981.71 | 1,816.72 | 1,461.26 |
| YoY Growth | - | - | -13.41% | 50.29% | 73.81% | -29.23% | 10.95% | 12.89% | 8.21% | 9.08% | 24.33% | -14.13% |
| Dividend Yield | - | - | 11.68% | 10.39% | 8.18% | 4.33% | 6.87% | 6.58% | 4.04% | 3.19% | 3.07% | 2.48% |
| Net Income To Common (M) | 569,573.00 |
| (-) Cash Dividends Paid (M) | 447,491.00 |
| (=) Cash Retained (M) | 122,082.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 113,914.60 | 71,196.63 | 42,717.98 |
| Cash Retained (M) | 122,082.00 | 122,082.00 | 122,082.00 |
| (-) Cash Required (M) | -113,914.60 | -71,196.63 | -42,717.98 |
| (=) Excess Retained (M) | 8,167.40 | 50,885.38 | 79,364.03 |
| (/) Shares Outstanding (M) | 94.68 | 94.68 | 94.68 |
| (=) Excess Retained per Share | 86.27 | 537.47 | 838.27 |
| LTM Dividend per Share | 4,726.55 | 4,726.55 | 4,726.55 |
| (+) Excess Retained per Share | 86.27 | 537.47 | 838.27 |
| (=) Adjusted Dividend | 4,812.82 | 5,264.02 | 5,564.82 |
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $602,458.23 | $1,121,236.30 | $1,196,436.59 |
| Upside / Downside | 1,211.12% | 2,340.12% | 2,503.78% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 569,573.00 | 606,595.25 | 646,023.94 | 688,015.49 | 732,736.50 | 780,364.37 | 803,775.30 |
| Payout Ratio | 78.57% | 80.85% | 83.14% | 85.43% | 87.71% | 90.00% | 92.50% |
| Projected Dividends (M) | 447,491.00 | 490,449.48 | 537,101.90 | 587,747.00 | 642,706.70 | 702,327.93 | 743,492.15 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 456,866.20 | 461,196.69 | 465,527.17 |
| Year 2 PV (M) | 466,064.70 | 474,941.92 | 483,902.89 |
| Year 3 PV (M) | 475,088.69 | 488,726.78 | 502,623.40 |
| Year 4 PV (M) | 483,940.38 | 502,551.36 | 521,694.04 |
| Year 5 PV (M) | 492,621.91 | 516,415.74 | 541,120.21 |
| PV of Terminal Value (M) | 15,600,541.16 | 16,354,053.13 | 17,136,403.78 |
| Equity Value (M) | 17,975,123.04 | 18,797,885.61 | 19,651,271.49 |
| Shares Outstanding (M) | 94.68 | 94.68 | 94.68 |
| Fair Value | $189,859.34 | $198,549.64 | $207,563.39 |
| Upside / Downside | 313.19% | 332.10% | 351.72% |
| 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% |