Definitive Analysis
| Stable Growth | $291,727.53 - $872,088.77 | $817,274.89 |
| Multi-Stage | $120,486.72 - $131,755.19 | $126,017.95 |
| Blended Fair Value | $471,646.42 | |
| Current Price | $50,200.00 | |
| Upside | 839.53% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 39.69% | 18.72% | 5,077.63 | 17.87 | 22.76 | 191.90 | 481.15 | 954.56 | 1,171.68 | 1,101.65 | 1,089.25 | 1,038.36 |
| YoY Growth | - | - | 28,314.02% | -21.47% | -88.14% | -60.12% | -49.59% | -18.53% | 6.36% | 1.14% | 4.90% | 13.75% |
| Dividend Yield | - | - | 9.44% | 0.03% | 0.04% | 0.23% | 0.74% | 2.67% | 1.67% | 0.95% | 1.42% | 1.27% |
| Net Income To Common (M) | 67,933.03 |
| (-) Cash Dividends Paid (M) | 37,487.52 |
| (=) Cash Retained (M) | 30,445.51 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 13,586.61 | 8,491.63 | 5,094.98 |
| Cash Retained (M) | 30,445.51 | 30,445.51 | 30,445.51 |
| (-) Cash Required (M) | -13,586.61 | -8,491.63 | -5,094.98 |
| (=) Excess Retained (M) | 16,858.90 | 21,953.88 | 25,350.53 |
| (/) Shares Outstanding (M) | 15.49 | 15.49 | 15.49 |
| (=) Excess Retained per Share | 1,088.25 | 1,417.13 | 1,636.39 |
| LTM Dividend per Share | 2,419.84 | 2,419.84 | 2,419.84 |
| (+) Excess Retained per Share | 1,088.25 | 1,417.13 | 1,636.39 |
| (=) Adjusted Dividend | 3,508.09 | 3,836.97 | 4,056.23 |
| WACC / Discount Rate | 6.77% | 6.77% | 6.77% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $291,727.53 | $817,274.89 | $872,088.77 |
| Upside / Downside | 481.13% | 1,528.04% | 1,637.23% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 67,933.03 | 72,348.68 | 77,051.34 | 82,059.68 | 87,393.56 | 93,074.14 | 95,866.36 |
| Payout Ratio | 55.18% | 62.15% | 69.11% | 76.07% | 83.04% | 90.00% | 92.50% |
| Projected Dividends (M) | 37,487.52 | 44,962.13 | 53,250.05 | 62,425.44 | 72,568.65 | 83,766.72 | 88,676.38 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.77% | 6.77% | 6.77% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 41,716.32 | 42,111.73 | 42,507.15 |
| Year 2 PV (M) | 45,839.32 | 46,712.43 | 47,593.78 |
| Year 3 PV (M) | 49,858.45 | 51,289.71 | 52,748.10 |
| Year 4 PV (M) | 53,775.60 | 55,843.66 | 57,970.80 |
| Year 5 PV (M) | 57,592.62 | 60,374.36 | 63,262.57 |
| PV of Terminal Value (M) | 1,617,767.87 | 1,695,906.66 | 1,777,036.01 |
| Equity Value (M) | 1,866,550.17 | 1,952,238.55 | 2,041,118.40 |
| Shares Outstanding (M) | 15.49 | 15.49 | 15.49 |
| Fair Value | $120,486.72 | $126,017.95 | $131,755.19 |
| Upside / Downside | 140.01% | 151.03% | 162.46% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| SAH | Sonic Automotive, Inc. | 2.13% | $1.31 | 35.28% |
| AIG-PA | American International Group, Inc. | 2.12% | $1.69 | 30.01% |
| LANC | Lancaster Colony Corporation | 2.11% | $3.82 | 61.80% |
| TDAC | Translational Development Acquisition Corp. | 2.10% | $0.22 | 79.86% |
| FAST | Fastenal Company | 2.09% | $0.85 | 79.50% |
| FDUS | Fidus Investment Corporation | 2.09% | $0.41 | 17.86% |
| IBOC | International Bancshares Corporation | 2.09% | $1.40 | 20.70% |
| SMRSX | ALPS/Smith Short Duration Bond Investor | 2.09% | $0.22 | 98.81% |
| SSSS | SuRo Capital Corp. | 2.09% | $0.20 | 8.46% |
| MLR | Miller Industries, Inc. | 2.08% | $0.78 | 30.00% |
| OACC | Oaktree Acquisition Corp. III Life Sciences | 2.08% | $0.22 | 61.74% |
| FCCO | First Community Corporation | 2.07% | $0.60 | 25.08% |
| GNTX | Gentex Corporation | 2.07% | $0.49 | 28.42% |
| OACCU | Oaktree Acquisition Corp. III Life Sciences Unit | 2.07% | $0.22 | 61.74% |
| DLB | Dolby Laboratories, Inc. | 2.06% | $1.31 | 49.64% |
| APOG | Apogee Enterprises, Inc. | 2.05% | $0.77 | 37.24% |
| CAKE | The Cheesecake Factory Incorporated | 2.05% | $1.08 | 32.74% |
| EWBC | East West Bancorp, Inc. | 2.05% | $2.36 | 25.97% |
| ALF | Centurion Acquisition Corp. | 2.04% | $0.22 | 51.38% |
| ATO | Atmos Energy Corporation | 2.04% | $3.45 | 46.19% |
| OVLY | Oak Valley Bancorp | 2.04% | $0.61 | 29.73% |
| 0HYE.L | Cincinnati Financial Corporation | 2.03% | $3.28 | 24.36% |
| AOS | A. O. Smith Corporation | 2.03% | $1.39 | 36.68% |
| ACT | Enact Holdings, Inc. | 2.02% | $0.80 | 18.03% |
| ARKO | Arko Corp. | 2.02% | $0.09 | 55.86% |
| KFY | Korn Ferry | 2.02% | $1.34 | 26.97% |
| 0H68.L | Aflac Incorporated | 2.01% | $2.20 | 28.14% |
| LEN | Lennar Corporation | 2.01% | $2.10 | 25.46% |
| AVY | Avery Dennison Corporation | 2.00% | $3.66 | 41.17% |
| RHLD | Resolute Holdings Management, Inc. | 2.00% | $3.74 | 22.61% |
| ALFUU | Centurion Acquisition Corp. Unit | 1.99% | $0.22 | 51.38% |
| GNTY | Guaranty Bancshares, Inc. | 1.99% | $0.97 | 30.69% |
| NC | NACCO Industries, Inc. | 1.99% | $0.95 | 24.54% |
| QCOM | QUALCOMM Incorporated | 1.99% | $3.44 | 68.67% |
| THG | The Hanover Insurance Group, Inc. | 1.98% | $3.55 | 20.46% |
| CNMD | CONMED Corporation | 1.97% | $0.80 | 38.60% |
| FBIN | Fortune Brands Innovations, Inc. | 1.97% | $1.00 | 36.69% |
| FEIM | Frequency Electronics, Inc. | 1.97% | $1.00 | 46.25% |
| RPM | RPM International Inc. | 1.97% | $2.04 | 37.93% |
| BNJ | Brookfield Finance Inc. 4.50% P | 1.96% | $0.30 | 70.51% |
| MTG | MGIC Investment Corporation | 1.96% | $0.57 | 17.51% |
| CCS | Century Communities, Inc. | 1.95% | $1.15 | 16.06% |
| 0K6F.L | NetApp, Inc. | 1.94% | $2.07 | 35.51% |
| BLK | BlackRock, Inc. | 1.94% | $21.00 | 53.94% |
| FNB-PE | F.N.B. Corporation | 1.94% | $0.48 | 34.55% |
| 0L4F.L | Sealed Air Corporation | 1.93% | $0.80 | 30.13% |
| AEO | American Eagle Outfitters, Inc. | 1.93% | $0.51 | 42.14% |
| SLGN | Silgan Holdings Inc. | 1.93% | $0.80 | 26.98% |
| FSFG | First Savings Financial Group, Inc. | 1.92% | $0.61 | 23.93% |
| GEN | Gen Digital Inc. | 1.92% | $0.50 | 54.91% |