Definitive Analysis
| Stable Growth | $144,209.35 - $643,986.51 | $337,179.59 |
| Multi-Stage | $90,315.79 - $98,948.70 | $94,552.22 |
| Blended Fair Value | $215,865.90 | |
| Current Price | $54,400.00 | |
| Upside | 296.81% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | 11.40% | 316.65 | 266.65 | 266.65 | 260.92 | 432.38 | 0.00 | 0.00 | 0.00 | 179.25 | 179.25 |
| YoY Growth | - | - | 18.75% | 0.00% | 2.20% | -39.65% | 0.00% | 0.00% | 0.00% | -100.00% | 0.00% | 66.67% |
| Dividend Yield | - | - | 1.01% | 2.74% | 4.05% | 4.14% | 7.33% | 0.00% | 0.00% | 0.00% | 2.85% | 2.49% |
| Net Income To Common (M) | 64,506.51 |
| (-) Cash Dividends Paid (M) | 17,785.00 |
| (=) Cash Retained (M) | 46,721.52 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 12,901.30 | 8,063.31 | 4,837.99 |
| Cash Retained (M) | 46,721.52 | 46,721.52 | 46,721.52 |
| (-) Cash Required (M) | -12,901.30 | -8,063.31 | -4,837.99 |
| (=) Excess Retained (M) | 33,820.21 | 38,658.20 | 41,883.53 |
| (/) Shares Outstanding (M) | 19.76 | 19.76 | 19.76 |
| (=) Excess Retained per Share | 1,711.35 | 1,956.16 | 2,119.37 |
| LTM Dividend per Share | 899.95 | 899.95 | 899.95 |
| (+) Excess Retained per Share | 1,711.35 | 1,956.16 | 2,119.37 |
| (=) Adjusted Dividend | 2,611.30 | 2,856.11 | 3,019.31 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 4.64% | 5.64% | 6.64% |
| Fair Value | $144,209.35 | $337,179.59 | $643,986.51 |
| Upside / Downside | 165.09% | 519.82% | 1,083.80% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 64,506.51 | 68,147.58 | 71,994.17 | 76,057.88 | 80,350.96 | 84,886.37 | 87,432.96 |
| Payout Ratio | 27.57% | 40.06% | 52.54% | 65.03% | 77.51% | 90.00% | 92.50% |
| Projected Dividends (M) | 17,785.00 | 27,297.66 | 37,827.55 | 49,459.18 | 62,283.38 | 76,397.73 | 80,875.49 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 4.64% | 5.64% | 6.64% |
| Year 1 PV (M) | 25,379.60 | 25,622.14 | 25,864.67 |
| Year 2 PV (M) | 32,698.44 | 33,326.36 | 33,960.27 |
| Year 3 PV (M) | 39,748.90 | 40,899.36 | 42,071.82 |
| Year 4 PV (M) | 46,538.22 | 48,342.79 | 50,199.34 |
| Year 5 PV (M) | 53,073.47 | 55,658.30 | 58,342.87 |
| PV of Terminal Value (M) | 1,587,406.99 | 1,664,718.15 | 1,745,012.60 |
| Equity Value (M) | 1,784,845.62 | 1,868,567.10 | 1,955,451.55 |
| Shares Outstanding (M) | 19.76 | 19.76 | 19.76 |
| Fair Value | $90,315.79 | $94,552.22 | $98,948.70 |
| Upside / Downside | 66.02% | 73.81% | 81.89% |
| 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% |