Definitive Analysis
| Stable Growth | $21,395.11 - $25,221.21 | $23,629.40 |
| Multi-Stage | $39,850.98 - $43,876.63 | $41,825.01 |
| Blended Fair Value | $32,727.21 | |
| Current Price | $2,735.00 | |
| Upside | 1,096.61% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 15.53% | 0.53% | 21.03 | 103.13 | 128.30 | 250.60 | 32.61 | 10.22 | 25.55 | 51.09 | 81.16 | 28.87 |
| YoY Growth | - | - | -79.61% | -19.62% | -48.80% | 668.52% | 219.09% | -60.00% | -49.99% | -37.05% | 181.09% | 44.74% |
| Dividend Yield | - | - | 0.73% | 6.01% | 8.35% | 16.17% | 2.12% | 1.15% | 2.16% | 2.76% | 4.00% | 1.71% |
| Net Income To Common (M) | 365,825.79 |
| (-) Cash Dividends Paid (M) | 41,941.21 |
| (=) Cash Retained (M) | 323,884.59 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 73,165.16 | 45,728.22 | 27,436.93 |
| Cash Retained (M) | 323,884.59 | 323,884.59 | 323,884.59 |
| (-) Cash Required (M) | -73,165.16 | -45,728.22 | -27,436.93 |
| (=) Excess Retained (M) | 250,719.43 | 278,156.36 | 296,447.65 |
| (/) Shares Outstanding (M) | 2,801.75 | 2,801.75 | 2,801.75 |
| (=) Excess Retained per Share | 89.49 | 99.28 | 105.81 |
| LTM Dividend per Share | 14.97 | 14.97 | 14.97 |
| (+) Excess Retained per Share | 89.49 | 99.28 | 105.81 |
| (=) Adjusted Dividend | 104.46 | 114.25 | 120.78 |
| WACC / Discount Rate | -18.49% | -18.49% | -18.49% |
| Growth Rate | 2.41% | 3.41% | 4.41% |
| Fair Value | $21,395.11 | $23,629.40 | $25,221.21 |
| Upside / Downside | 682.27% | 763.96% | 822.16% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 365,825.79 | 378,306.52 | 391,213.04 | 404,559.89 | 418,362.09 | 432,635.17 | 445,614.23 |
| Payout Ratio | 11.46% | 27.17% | 42.88% | 58.59% | 74.29% | 90.00% | 92.50% |
| Projected Dividends (M) | 41,941.21 | 102,792.85 | 167,747.78 | 237,015.14 | 310,813.58 | 389,371.66 | 412,193.16 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | -18.49% | -18.49% | -18.49% |
| Growth Rate | 2.41% | 3.41% | 4.41% |
| Year 1 PV (M) | 124,894.87 | 126,114.41 | 127,333.94 |
| Year 2 PV (M) | 247,639.63 | 252,499.40 | 257,406.40 |
| Year 3 PV (M) | 425,129.40 | 437,704.95 | 450,526.07 |
| Year 4 PV (M) | 677,371.21 | 704,218.04 | 731,855.12 |
| Year 5 PV (M) | 1,031,033.47 | 1,082,363.86 | 1,135,718.60 |
| PV of Terminal Value (M) | 109,146,348.42 | 114,580,240.80 | 120,228,432.62 |
| Equity Value (M) | 111,652,417.00 | 117,183,141.46 | 122,931,272.75 |
| Shares Outstanding (M) | 2,801.75 | 2,801.75 | 2,801.75 |
| Fair Value | $39,850.98 | $41,825.01 | $43,876.63 |
| Upside / Downside | 1,357.07% | 1,429.25% | 1,504.26% |
| 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% |