Definitive Analysis
| Stable Growth | $29,681.15 - $72,362.00 | $67,813.79 |
| Multi-Stage | $10,558.86 - $11,556.34 | $11,048.44 |
| Blended Fair Value | $39,431.11 | |
| Current Price | $3,621.00 | |
| Upside | 988.96% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 13.00% | 7.17% | 119.78 | 68.06 | 65.01 | 65.01 | 65.01 | 65.02 | 64.97 | 58.48 | 59.46 | 59.95 |
| YoY Growth | - | - | 75.99% | 4.70% | 0.00% | 0.00% | -0.02% | 0.08% | 11.10% | -1.65% | -0.82% | 0.00% |
| Dividend Yield | - | - | 3.45% | 1.65% | 2.44% | 2.13% | 1.86% | 2.31% | 2.11% | 1.63% | 1.30% | 2.16% |
| Net Income To Common (M) | 27,403.00 |
| (-) Cash Dividends Paid (M) | 10,382.00 |
| (=) Cash Retained (M) | 17,021.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 5,480.60 | 3,425.38 | 2,055.23 |
| Cash Retained (M) | 17,021.00 | 17,021.00 | 17,021.00 |
| (-) Cash Required (M) | -5,480.60 | -3,425.38 | -2,055.23 |
| (=) Excess Retained (M) | 11,540.40 | 13,595.63 | 14,965.78 |
| (/) Shares Outstanding (M) | 75.31 | 75.31 | 75.31 |
| (=) Excess Retained per Share | 153.23 | 180.52 | 198.72 |
| LTM Dividend per Share | 137.85 | 137.85 | 137.85 |
| (+) Excess Retained per Share | 153.23 | 180.52 | 198.72 |
| (=) Adjusted Dividend | 291.09 | 318.37 | 336.57 |
| WACC / Discount Rate | 6.53% | 6.53% | 6.53% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $29,681.15 | $67,813.79 | $72,362.00 |
| Upside / Downside | 719.69% | 1,772.79% | 1,898.40% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 27,403.00 | 29,184.20 | 31,081.17 | 33,101.44 | 35,253.04 | 37,544.48 | 38,670.82 |
| Payout Ratio | 37.89% | 48.31% | 58.73% | 69.15% | 79.58% | 90.00% | 92.50% |
| Projected Dividends (M) | 10,382.00 | 14,098.62 | 18,254.53 | 22,891.15 | 28,053.41 | 33,790.04 | 35,770.51 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.53% | 6.53% | 6.53% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 13,109.57 | 13,233.83 | 13,358.10 |
| Year 2 PV (M) | 15,783.19 | 16,083.81 | 16,387.27 |
| Year 3 PV (M) | 18,403.63 | 18,931.94 | 19,470.25 |
| Year 4 PV (M) | 20,971.69 | 21,778.21 | 22,607.76 |
| Year 5 PV (M) | 23,488.14 | 24,622.62 | 25,800.53 |
| PV of Terminal Value (M) | 703,459.35 | 737,436.70 | 772,714.45 |
| Equity Value (M) | 795,215.58 | 832,087.12 | 870,338.36 |
| Shares Outstanding (M) | 75.31 | 75.31 | 75.31 |
| Fair Value | $10,558.86 | $11,048.44 | $11,556.34 |
| Upside / Downside | 191.60% | 205.12% | 219.15% |
| 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% |