Definitive Analysis
| Stable Growth | $21,744.54 - $37,217.41 | $28,443.03 |
| Multi-Stage | $40,633.16 - $44,734.14 | $42,643.74 |
| Blended Fair Value | $35,543.38 | |
| Current Price | $7,090.00 | |
| Upside | 401.32% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -1.60% | 17.44% | 124.79 | 124.78 | 125.43 | 130.29 | 132.48 | 135.27 | 197.99 | 197.99 | 137.49 | 55.00 |
| YoY Growth | - | - | 0.00% | -0.51% | -3.74% | -1.65% | -2.06% | -31.68% | 0.00% | 44.00% | 150.00% | 120.00% |
| Dividend Yield | - | - | 1.92% | 1.49% | 1.17% | 0.82% | 1.00% | 1.74% | 1.93% | 1.41% | 0.93% | 0.28% |
| Net Income To Common (M) | 43,619.83 |
| (-) Cash Dividends Paid (M) | 3,732.43 |
| (=) Cash Retained (M) | 39,887.40 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 8,723.97 | 5,452.48 | 3,271.49 |
| Cash Retained (M) | 39,887.40 | 39,887.40 | 39,887.40 |
| (-) Cash Required (M) | -8,723.97 | -5,452.48 | -3,271.49 |
| (=) Excess Retained (M) | 31,163.43 | 34,434.92 | 36,615.91 |
| (/) Shares Outstanding (M) | 24.92 | 24.92 | 24.92 |
| (=) Excess Retained per Share | 1,250.30 | 1,381.56 | 1,469.06 |
| LTM Dividend per Share | 149.75 | 149.75 | 149.75 |
| (+) Excess Retained per Share | 1,250.30 | 1,381.56 | 1,469.06 |
| (=) Adjusted Dividend | 1,400.05 | 1,531.30 | 1,618.81 |
| WACC / Discount Rate | 6.33% | 6.33% | 6.33% |
| Growth Rate | -0.10% | 0.90% | 1.90% |
| Fair Value | $21,744.54 | $28,443.03 | $37,217.41 |
| Upside / Downside | 206.69% | 301.17% | 424.93% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 43,619.83 | 44,013.51 | 44,410.74 | 44,811.56 | 45,216.00 | 45,624.09 | 46,992.81 |
| Payout Ratio | 8.56% | 24.85% | 41.13% | 57.42% | 73.71% | 90.00% | 92.50% |
| Projected Dividends (M) | 3,732.43 | 10,935.32 | 18,267.93 | 25,732.01 | 33,329.32 | 41,061.68 | 43,468.35 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.33% | 6.33% | 6.33% |
| Growth Rate | -0.10% | 0.90% | 1.90% |
| Year 1 PV (M) | 10,181.93 | 10,283.85 | 10,385.77 |
| Year 2 PV (M) | 15,837.50 | 16,156.15 | 16,477.97 |
| Year 3 PV (M) | 20,771.59 | 21,401.61 | 22,044.24 |
| Year 4 PV (M) | 25,050.78 | 26,068.95 | 27,117.85 |
| Year 5 PV (M) | 28,736.26 | 30,203.55 | 31,730.19 |
| PV of Terminal Value (M) | 912,193.18 | 958,770.51 | 1,007,231.32 |
| Equity Value (M) | 1,012,771.25 | 1,062,884.63 | 1,114,987.34 |
| Shares Outstanding (M) | 24.92 | 24.92 | 24.92 |
| Fair Value | $40,633.16 | $42,643.74 | $44,734.14 |
| Upside / Downside | 473.11% | 501.46% | 530.95% |
| 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% |