Definitive Analysis
| Stable Growth | $446,774.19 - $526,683.47 | $493,436.68 |
| Multi-Stage | $299,391.46 - $329,484.60 | $314,148.47 |
| Blended Fair Value | $403,792.58 | |
| Current Price | $83,800.00 | |
| Upside | 381.85% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 29.76% | 2.38% | 514.96 | 282.98 | 237.98 | 281.98 | 309.98 | 139.99 | 219.98 | 109.99 | 199.98 | 574.95 |
| YoY Growth | - | - | 81.98% | 18.91% | -15.60% | -9.03% | 121.43% | -36.36% | 100.00% | -45.00% | -65.22% | 41.30% |
| Dividend Yield | - | - | 0.90% | 0.43% | 0.32% | 0.34% | 1.38% | 0.93% | 0.91% | 0.35% | 0.72% | 1.84% |
| Net Income To Common (M) | 103,865.00 |
| (-) Cash Dividends Paid (M) | 38,005.46 |
| (=) Cash Retained (M) | 65,859.54 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 20,773.00 | 12,983.13 | 7,789.88 |
| Cash Retained (M) | 65,859.54 | 65,859.54 | 65,859.54 |
| (-) Cash Required (M) | -20,773.00 | -12,983.13 | -7,789.88 |
| (=) Excess Retained (M) | 45,086.54 | 52,876.41 | 58,069.66 |
| (/) Shares Outstanding (M) | 38.05 | 38.05 | 38.05 |
| (=) Excess Retained per Share | 1,185.04 | 1,389.78 | 1,526.28 |
| LTM Dividend per Share | 998.92 | 998.92 | 998.92 |
| (+) Excess Retained per Share | 1,185.04 | 1,389.78 | 1,526.28 |
| (=) Adjusted Dividend | 2,183.96 | 2,388.71 | 2,525.20 |
| WACC / Discount Rate | 0.13% | 0.13% | 0.13% |
| Growth Rate | 2.29% | 3.29% | 4.29% |
| Fair Value | $446,774.19 | $493,436.68 | $526,683.47 |
| Upside / Downside | 433.14% | 488.83% | 528.50% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 103,865.00 | 107,277.36 | 110,801.84 | 114,442.10 | 118,201.97 | 122,085.36 | 125,747.92 |
| Payout Ratio | 36.59% | 47.27% | 57.95% | 68.64% | 79.32% | 90.00% | 92.50% |
| Projected Dividends (M) | 38,005.46 | 50,713.19 | 64,214.90 | 78,549.04 | 93,755.72 | 109,876.82 | 116,316.82 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 0.13% | 0.13% | 0.13% |
| Growth Rate | 2.29% | 3.29% | 4.29% |
| Year 1 PV (M) | 50,157.42 | 50,647.79 | 51,138.15 |
| Year 2 PV (M) | 62,815.13 | 64,049.36 | 65,295.61 |
| Year 3 PV (M) | 75,994.73 | 78,245.50 | 80,540.27 |
| Year 4 PV (M) | 89,712.84 | 93,272.96 | 96,938.00 |
| Year 5 PV (M) | 103,986.54 | 109,170.06 | 114,558.27 |
| PV of Terminal Value (M) | 11,008,130.42 | 11,556,864.18 | 12,127,265.62 |
| Equity Value (M) | 11,390,797.08 | 11,952,249.85 | 12,535,735.92 |
| Shares Outstanding (M) | 38.05 | 38.05 | 38.05 |
| Fair Value | $299,391.46 | $314,148.47 | $329,484.60 |
| Upside / Downside | 257.27% | 274.88% | 293.18% |
| 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% |