Definitive Analysis
| Stable Growth | $1,063,811.36 - $2,888,949.94 | $1,638,505.41 |
| Multi-Stage | $1,158,916.54 - $1,272,020.26 | $1,214,401.55 |
| Blended Fair Value | $1,426,453.48 | |
| Current Price | $298,500.00 | |
| Upside | 377.87% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -3.02% | 7.92% | 4,441.77 | 4,014.65 | 4,024.96 | 5,050.39 | 3,065.17 | 5,177.70 | 3,624.39 | 3,635.31 | 3,627.34 | 3,195.90 |
| YoY Growth | - | - | 10.64% | -0.26% | -20.30% | 64.77% | -40.80% | 42.86% | -0.30% | 0.22% | 13.50% | 54.12% |
| Dividend Yield | - | - | 1.71% | 1.60% | 1.86% | 2.35% | 1.05% | 3.05% | 1.72% | 1.52% | 1.51% | 1.28% |
| Net Income To Common (M) | 4,172,240.00 |
| (-) Cash Dividends Paid (M) | 583,383.00 |
| (=) Cash Retained (M) | 3,588,857.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 834,448.00 | 521,530.00 | 312,918.00 |
| Cash Retained (M) | 3,588,857.00 | 3,588,857.00 | 3,588,857.00 |
| (-) Cash Required (M) | -834,448.00 | -521,530.00 | -312,918.00 |
| (=) Excess Retained (M) | 2,754,409.00 | 3,067,327.00 | 3,275,939.00 |
| (/) Shares Outstanding (M) | 91.45 | 91.45 | 91.45 |
| (=) Excess Retained per Share | 30,117.89 | 33,539.47 | 35,820.52 |
| LTM Dividend per Share | 6,378.96 | 6,378.96 | 6,378.96 |
| (+) Excess Retained per Share | 30,117.89 | 33,539.47 | 35,820.52 |
| (=) Adjusted Dividend | 36,496.85 | 39,918.43 | 42,199.48 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 3.00% | 4.00% | 5.00% |
| Fair Value | $1,063,811.36 | $1,638,505.41 | $2,888,949.94 |
| Upside / Downside | 256.39% | 448.91% | 867.82% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 4,172,240.00 | 4,339,278.46 | 4,513,004.42 | 4,693,685.62 | 4,881,600.51 | 5,077,038.70 | 5,229,349.86 |
| Payout Ratio | 13.98% | 29.19% | 44.39% | 59.59% | 74.80% | 90.00% | 92.50% |
| Projected Dividends (M) | 583,383.00 | 1,266,461.43 | 2,003,299.80 | 2,797,107.86 | 3,651,266.22 | 4,569,334.83 | 4,837,148.62 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 3.00% | 4.00% | 5.00% |
| Year 1 PV (M) | 1,177,318.59 | 1,188,748.47 | 1,200,178.35 |
| Year 2 PV (M) | 1,731,211.04 | 1,764,988.79 | 1,799,092.89 |
| Year 3 PV (M) | 2,247,063.32 | 2,313,146.93 | 2,380,513.64 |
| Year 4 PV (M) | 2,726,789.59 | 2,834,232.72 | 2,944,820.17 |
| Year 5 PV (M) | 3,172,218.87 | 3,329,223.82 | 3,492,384.75 |
| PV of Terminal Value (M) | 94,933,241.29 | 99,631,841.83 | 104,514,668.72 |
| Equity Value (M) | 105,987,842.69 | 111,062,182.56 | 116,331,658.51 |
| Shares Outstanding (M) | 91.45 | 91.45 | 91.45 |
| Fair Value | $1,158,916.54 | $1,214,401.55 | $1,272,020.26 |
| Upside / Downside | 288.25% | 306.83% | 326.14% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| 0K58.L | NOV Inc. | 1.29% | $0.20 | 15.83% |
| CON | Concentra Group Holdings Parent, Inc. | 1.29% | $0.25 | 20.88% |
| CSGS | CSG Systems International, Inc. | 1.28% | $0.98 | 32.90% |
| CSL | Carlisle Companies Incorporated | 1.28% | $4.20 | 23.23% |
| JKHY | Jack Henry & Associates, Inc. | 1.28% | $2.29 | 34.69% |
| MSA | MSA Safety Incorporated | 1.28% | $2.08 | 29.19% |
| PAHC | Phibro Animal Health Corporation | 1.28% | $0.48 | 28.68% |
| WMG | Warner Music Group Corp. | 1.28% | $0.39 | 61.67% |
| 0K4C.L | NRG Energy, Inc. | 1.27% | $2.10 | 28.38% |
| DCI | Donaldson Company, Inc. | 1.27% | $1.14 | 35.14% |
| TEX | Terex Corporation | 1.27% | $0.70 | 29.49% |
| BCC | Boise Cascade Company | 1.26% | $0.93 | 18.09% |
| BCML | BayCom Corp | 1.25% | $0.36 | 16.94% |
| MSCI | MSCI Inc. | 1.25% | $7.07 | 44.68% |
| PRMW | Primo Water Corporation | 1.25% | $0.35 | 61.28% |
| ESI | Element Solutions Inc | 1.24% | $0.32 | 32.50% |
| LECO | Lincoln Electric Holdings, Inc. | 1.23% | $3.00 | 31.76% |
| MCRI | Monarch Casino & Resort, Inc. | 1.23% | $1.18 | 26.69% |
| PBI-PB | Pitney Bowes Inc. NT 43 | 1.23% | $0.25 | 61.37% |
| RJF | Raymond James Financial, Inc. | 1.23% | $2.01 | 19.48% |
| WFRD | Weatherford International plc | 1.23% | $1.00 | 17.78% |
| AMP | Ameriprise Financial, Inc. | 1.22% | $6.04 | 16.30% |
| BRC | Brady Corporation | 1.22% | $0.96 | 23.25% |
| GCBC | Greene County Bancorp, Inc. | 1.21% | $0.26 | 13.26% |
| RICK | RCI Hospitality Holdings, Inc. | 1.21% | $0.28 | 15.00% |
| ABC | AmerisourceBergen Corporation | 1.20% | $2.25 | 28.12% |
| EQBK | Equity Bancshares, Inc. | 1.20% | $0.54 | 58.24% |
| HMNF | HMN Financial, Inc. | 1.20% | $0.34 | 28.27% |
| IBP | Installed Building Products, Inc. | 1.20% | $3.22 | 34.18% |
| CHH | Choice Hotels International, Inc. | 1.19% | $1.15 | 13.93% |
| EQC | Equity Commonwealth | 1.19% | $0.02 | 8.60% |
| FLS | Flowserve Corporation | 1.19% | $0.84 | 24.35% |
| ICE | Intercontinental Exchange, Inc. | 1.19% | $1.90 | 33.71% |
| LNN | Lindsay Corporation | 1.19% | $1.44 | 21.27% |
| INGM | Ingram Micro Holding Corporation | 1.18% | $0.25 | 20.42% |
| RBA | RB Global, Inc. | 1.18% | $1.22 | 52.13% |
| SEIC | SEI Investments Company | 1.18% | $0.98 | 17.66% |
| HEES | H&E Equipment Services, Inc. | 1.17% | $1.11 | 44.29% |
| WSFS | WSFS Financial Corporation | 1.17% | $0.64 | 13.17% |
| ASTE | Astec Industries, Inc. | 1.16% | $0.52 | 24.84% |
| GFGD | The Growth for Good Acquisition Corporation | 1.16% | $0.12 | 42.35% |
| HUBG | Hub Group, Inc. | 1.16% | $0.50 | 28.58% |
| NWS | News Corporation | 1.16% | $0.35 | 16.79% |
| FCX | Freeport-McMoRan Inc. | 1.15% | $0.60 | 41.87% |
| GFF | Griffon Corporation | 1.15% | $0.86 | 77.66% |
| LH | Labcorp Holdings Inc. | 1.15% | $2.89 | 28.24% |
| YAFIX | AMG Funds - AMG Yacktman Focused Fund | 1.15% | $0.22 | 27.84% |
| 0L1G.L | SS&C Technologies Holdings, Inc. | 1.14% | $0.99 | 29.41% |
| 0M29.L | Xylem Inc. | 1.14% | $1.56 | 40.08% |
| DHI | D.R. Horton, Inc. | 1.14% | $1.66 | 13.80% |