Definitive Analysis
| Stable Growth | $625,333.98 - $1,531,956.64 | $1,435,667.72 |
| Multi-Stage | $221,391.25 - $242,406.59 | $231,705.55 |
| Blended Fair Value | $833,686.64 | |
| Current Price | $39,750.00 | |
| Upside | 1,997.32% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 23.28% | 12.35% | 1,295.81 | 802.72 | 697.30 | 647.49 | 556.25 | 455.13 | 404.56 | 438.22 | 404.56 | 404.54 |
| YoY Growth | - | - | 61.43% | 15.12% | 7.69% | 16.40% | 22.22% | 12.50% | -7.68% | 8.32% | 0.00% | 0.01% |
| Dividend Yield | - | - | 3.28% | 1.48% | 2.00% | 1.92% | 1.13% | 2.35% | 1.05% | 0.82% | 0.74% | 0.74% |
| Net Income To Common (M) | 943,298.21 |
| (-) Cash Dividends Paid (M) | 243,977.51 |
| (=) Cash Retained (M) | 699,320.70 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 188,659.64 | 117,912.28 | 70,747.37 |
| Cash Retained (M) | 699,320.70 | 699,320.70 | 699,320.70 |
| (-) Cash Required (M) | -188,659.64 | -117,912.28 | -70,747.37 |
| (=) Excess Retained (M) | 510,661.06 | 581,408.43 | 628,573.34 |
| (/) Shares Outstanding (M) | 122.46 | 122.46 | 122.46 |
| (=) Excess Retained per Share | 4,170.13 | 4,747.87 | 5,133.02 |
| LTM Dividend per Share | 1,992.36 | 1,992.36 | 1,992.36 |
| (+) Excess Retained per Share | 4,170.13 | 4,747.87 | 5,133.02 |
| (=) Adjusted Dividend | 6,162.49 | 6,740.22 | 7,125.38 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $625,333.98 | $1,435,667.72 | $1,531,956.64 |
| Upside / Downside | 1,473.17% | 3,511.74% | 3,753.98% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 943,298.21 | 1,004,612.59 | 1,069,912.41 | 1,139,456.72 | 1,213,521.40 | 1,292,400.29 | 1,331,172.30 |
| Payout Ratio | 25.86% | 38.69% | 51.52% | 64.35% | 77.17% | 90.00% | 92.50% |
| Projected Dividends (M) | 243,977.51 | 388,699.10 | 551,203.70 | 733,191.64 | 936,509.18 | 1,163,160.26 | 1,231,334.38 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 361,414.05 | 364,839.77 | 368,265.50 |
| Year 2 PV (M) | 476,535.34 | 485,612.00 | 494,774.28 |
| Year 3 PV (M) | 589,375.37 | 606,294.22 | 623,533.80 |
| Year 4 PV (M) | 699,967.72 | 726,886.50 | 754,574.34 |
| Year 5 PV (M) | 808,345.50 | 847,388.89 | 887,926.56 |
| PV of Terminal Value (M) | 24,175,215.12 | 25,342,887.05 | 26,555,248.53 |
| Equity Value (M) | 27,110,853.09 | 28,373,908.42 | 29,684,323.00 |
| Shares Outstanding (M) | 122.46 | 122.46 | 122.46 |
| Fair Value | $221,391.25 | $231,705.55 | $242,406.59 |
| Upside / Downside | 456.96% | 482.91% | 509.83% |
| 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% |