Definitive Analysis
| Stable Growth | $437,747.36 - $956,238.88 | $896,135.87 |
| Multi-Stage | $142,678.41 - $156,254.16 | $149,341.22 |
| Blended Fair Value | $522,738.54 | |
| Current Price | $77,800.00 | |
| Upside | 571.90% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 21.32% | 25.21% | 820.92 | 578.77 | 497.79 | 334.39 | 319.86 | 312.39 | 268.20 | 263.41 | 180.55 | 143.01 |
| YoY Growth | - | - | 41.84% | 16.27% | 48.87% | 4.54% | 2.39% | 16.47% | 1.82% | 45.90% | 26.25% | 65.02% |
| Dividend Yield | - | - | 1.31% | 1.12% | 1.19% | 0.77% | 0.56% | 0.83% | 0.33% | 0.34% | 0.24% | 0.18% |
| Net Income To Common (M) | 113,505.74 |
| (-) Cash Dividends Paid (M) | 25,865.90 |
| (=) Cash Retained (M) | 87,639.84 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 22,701.15 | 14,188.22 | 8,512.93 |
| Cash Retained (M) | 87,639.84 | 87,639.84 | 87,639.84 |
| (-) Cash Required (M) | -22,701.15 | -14,188.22 | -8,512.93 |
| (=) Excess Retained (M) | 64,938.69 | 73,451.62 | 79,126.91 |
| (/) Shares Outstanding (M) | 23.61 | 23.61 | 23.61 |
| (=) Excess Retained per Share | 2,750.88 | 3,111.50 | 3,351.91 |
| LTM Dividend per Share | 1,095.71 | 1,095.71 | 1,095.71 |
| (+) Excess Retained per Share | 2,750.88 | 3,111.50 | 3,351.91 |
| (=) Adjusted Dividend | 3,846.59 | 4,207.21 | 4,447.62 |
| WACC / Discount Rate | 6.43% | 6.43% | 6.43% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $437,747.36 | $896,135.87 | $956,238.88 |
| Upside / Downside | 462.66% | 1,051.85% | 1,129.10% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 113,505.74 | 120,883.61 | 128,741.04 | 137,109.21 | 146,021.31 | 155,512.69 | 160,178.07 |
| Payout Ratio | 22.79% | 36.23% | 49.67% | 63.12% | 76.56% | 90.00% | 92.50% |
| Projected Dividends (M) | 25,865.90 | 43,796.79 | 63,949.42 | 86,536.85 | 111,790.46 | 139,961.42 | 148,164.72 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.43% | 6.43% | 6.43% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 40,765.53 | 41,151.94 | 41,538.34 |
| Year 2 PV (M) | 55,403.63 | 56,458.92 | 57,524.16 |
| Year 3 PV (M) | 69,783.63 | 71,786.86 | 73,828.08 |
| Year 4 PV (M) | 83,908.89 | 87,135.79 | 90,454.88 |
| Year 5 PV (M) | 97,782.79 | 102,505.73 | 107,409.43 |
| PV of Terminal Value (M) | 3,020,493.34 | 3,166,384.30 | 3,317,858.85 |
| Equity Value (M) | 3,368,137.82 | 3,525,423.54 | 3,688,613.74 |
| Shares Outstanding (M) | 23.61 | 23.61 | 23.61 |
| Fair Value | $142,678.41 | $149,341.22 | $156,254.16 |
| Upside / Downside | 83.39% | 91.96% | 100.84% |
| 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% |