Definitive Analysis
| Stable Growth | $19,965.46 - $58,244.26 | $54,583.40 |
| Multi-Stage | $7,901.33 - $8,652.43 | $8,269.97 |
| Blended Fair Value | $31,426.68 | |
| Current Price | $2,185.00 | |
| Upside | 1,338.29% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 40.81% | 0.92% | 68.74 | 40.28 | 21.10 | 15.95 | 3.37 | 12.42 | 31.97 | 42.67 | 72.45 | 75.77 |
| YoY Growth | - | - | 70.64% | 90.89% | 32.27% | 373.41% | -72.86% | -61.16% | -25.08% | -41.11% | -4.39% | 20.78% |
| Dividend Yield | - | - | 3.17% | 1.74% | 0.97% | 0.43% | 0.12% | 1.10% | 1.10% | 1.12% | 1.85% | 0.86% |
| Net Income To Common (M) | 16,401.31 |
| (-) Cash Dividends Paid (M) | 2,922.79 |
| (=) Cash Retained (M) | 13,478.51 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,280.26 | 2,050.16 | 1,230.10 |
| Cash Retained (M) | 13,478.51 | 13,478.51 | 13,478.51 |
| (-) Cash Required (M) | -3,280.26 | -2,050.16 | -1,230.10 |
| (=) Excess Retained (M) | 10,198.25 | 11,428.35 | 12,248.42 |
| (/) Shares Outstanding (M) | 56.00 | 56.00 | 56.00 |
| (=) Excess Retained per Share | 182.10 | 204.07 | 218.71 |
| LTM Dividend per Share | 52.19 | 52.19 | 52.19 |
| (+) Excess Retained per Share | 182.10 | 204.07 | 218.71 |
| (=) Adjusted Dividend | 234.29 | 256.26 | 270.90 |
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $19,965.46 | $54,583.40 | $58,244.26 |
| Upside / Downside | 813.75% | 2,398.10% | 2,565.64% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 16,401.31 | 17,467.39 | 18,602.77 | 19,811.95 | 21,099.73 | 22,471.21 | 23,145.35 |
| Payout Ratio | 17.82% | 32.26% | 46.69% | 61.13% | 75.56% | 90.00% | 92.50% |
| Projected Dividends (M) | 2,922.79 | 5,634.35 | 8,686.06 | 12,110.69 | 15,943.82 | 20,224.09 | 21,409.44 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 5,229.10 | 5,278.67 | 5,328.23 |
| Year 2 PV (M) | 7,481.52 | 7,624.03 | 7,767.87 |
| Year 3 PV (M) | 9,680.99 | 9,958.89 | 10,242.07 |
| Year 4 PV (M) | 11,828.42 | 12,283.31 | 12,751.19 |
| Year 5 PV (M) | 13,924.74 | 14,597.31 | 15,295.62 |
| PV of Terminal Value (M) | 394,347.51 | 413,394.64 | 433,170.75 |
| Equity Value (M) | 442,492.28 | 463,136.85 | 484,555.74 |
| Shares Outstanding (M) | 56.00 | 56.00 | 56.00 |
| Fair Value | $7,901.33 | $8,269.97 | $8,652.43 |
| Upside / Downside | 261.62% | 278.49% | 295.99% |
| 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% |