Definitive Analysis
| Stable Growth | $13,232.70 - $25,251.09 | $23,663.97 |
| Multi-Stage | $3,963.97 - $4,338.39 | $4,147.74 |
| Blended Fair Value | $13,905.86 | |
| Current Price | $2,030.00 | |
| Upside | 585.02% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 13.66% | 19.58% | 55.09 | 35.05 | 21.03 | 52.08 | 30.05 | 29.05 | 27.04 | 21.03 | 12.32 | 6.68 |
| YoY Growth | - | - | 57.14% | 66.67% | -59.62% | 73.33% | 3.45% | 7.41% | 28.57% | 70.79% | 84.39% | -27.52% |
| Dividend Yield | - | - | 2.71% | 1.39% | 0.79% | 2.96% | 1.15% | 1.57% | 1.06% | 0.71% | 0.58% | 0.53% |
| Net Income To Common (M) | 2,834,439.77 |
| (-) Cash Dividends Paid (M) | 1,278,816.94 |
| (=) Cash Retained (M) | 1,555,622.83 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 566,887.95 | 354,304.97 | 212,582.98 |
| Cash Retained (M) | 1,555,622.83 | 1,555,622.83 | 1,555,622.83 |
| (-) Cash Required (M) | -566,887.95 | -354,304.97 | -212,582.98 |
| (=) Excess Retained (M) | 988,734.88 | 1,201,317.86 | 1,343,039.85 |
| (/) Shares Outstanding (M) | 22,323.76 | 22,323.76 | 22,323.76 |
| (=) Excess Retained per Share | 44.29 | 53.81 | 60.16 |
| LTM Dividend per Share | 57.29 | 57.29 | 57.29 |
| (+) Excess Retained per Share | 44.29 | 53.81 | 60.16 |
| (=) Adjusted Dividend | 101.58 | 111.10 | 117.45 |
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $13,232.70 | $23,663.97 | $25,251.09 |
| Upside / Downside | 551.86% | 1,065.71% | 1,143.90% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,834,439.77 | 3,018,678.35 | 3,214,892.44 | 3,423,860.45 | 3,646,411.38 | 3,883,428.12 | 3,999,930.97 |
| Payout Ratio | 45.12% | 54.09% | 63.07% | 72.05% | 81.02% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,278,816.94 | 1,632,914.13 | 2,027,640.96 | 2,466,783.22 | 2,954,447.19 | 3,495,085.31 | 3,699,936.14 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 1,521,572.94 | 1,535,995.43 | 1,550,417.92 |
| Year 2 PV (M) | 1,760,556.28 | 1,794,089.93 | 1,827,939.94 |
| Year 3 PV (M) | 1,995,810.35 | 2,053,102.89 | 2,111,481.51 |
| Year 4 PV (M) | 2,227,378.09 | 2,313,036.76 | 2,401,142.65 |
| Year 5 PV (M) | 2,455,302.02 | 2,573,894.02 | 2,697,024.82 |
| PV of Terminal Value (M) | 78,530,014.25 | 82,323,043.30 | 86,261,240.50 |
| Equity Value (M) | 88,490,633.92 | 92,593,162.34 | 96,849,247.35 |
| Shares Outstanding (M) | 22,323.76 | 22,323.76 | 22,323.76 |
| Fair Value | $3,963.97 | $4,147.74 | $4,338.39 |
| Upside / Downside | 95.27% | 104.32% | 113.71% |
| 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% |