Definitive Analysis
| Stable Growth | $1.94 - $2.81 | $2.37 |
| Multi-Stage | $3.15 - $3.47 | $3.31 |
| Blended Fair Value | $2.84 | |
| Current Price | $5.13 | |
| Upside | -44.73% | |
| Decision | Don't Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -14.88% | 0.00% | 0.15 | 0.07 | 0.11 | 0.11 | 0.13 | 0.35 | 0.16 | 0.12 | 0.06 | 0.00 |
| YoY Growth | - | - | 130.65% | -41.06% | 7.49% | -16.52% | -63.37% | 122.19% | 30.09% | 110.26% | 0.00% | 0.00% |
| Dividend Yield | - | - | 2.77% | 1.32% | 2.17% | 2.21% | 2.16% | 5.57% | 2.29% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 13,055.28 |
| (-) Cash Dividends Paid (M) | 1,077.00 |
| (=) Cash Retained (M) | 11,978.28 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 2,611.06 | 1,631.91 | 979.15 |
| Cash Retained (M) | 11,978.28 | 11,978.28 | 11,978.28 |
| (-) Cash Required (M) | -2,611.06 | -1,631.91 | -979.15 |
| (=) Excess Retained (M) | 9,367.23 | 10,346.37 | 10,999.14 |
| (/) Shares Outstanding (M) | 49,000.91 | 49,000.91 | 49,000.91 |
| (=) Excess Retained per Share | 0.19 | 0.21 | 0.22 |
| LTM Dividend per Share | 0.02 | 0.02 | 0.02 |
| (+) Excess Retained per Share | 0.19 | 0.21 | 0.22 |
| (=) Adjusted Dividend | 0.21 | 0.23 | 0.25 |
| WACC / Discount Rate | 8.76% | 8.76% | 8.76% |
| Growth Rate | -2.00% | -1.00% | 0.00% |
| Fair Value | $1.94 | $2.37 | $2.81 |
| Upside / Downside | -62.15% | -53.89% | -45.14% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 13,055.28 | 12,924.73 | 12,795.48 | 12,667.53 | 12,540.85 | 12,415.44 | 12,787.91 |
| Payout Ratio | 8.25% | 24.60% | 40.95% | 57.30% | 73.65% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,077.00 | 3,179.43 | 5,239.71 | 7,258.47 | 9,236.32 | 11,173.90 | 11,828.81 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 8.76% | 8.76% | 8.76% |
| Growth Rate | -2.00% | -1.00% | 0.00% |
| Year 1 PV (M) | 2,893.88 | 2,923.41 | 2,952.94 |
| Year 2 PV (M) | 4,340.80 | 4,429.84 | 4,519.79 |
| Year 3 PV (M) | 5,473.17 | 5,642.43 | 5,815.15 |
| Year 4 PV (M) | 6,339.06 | 6,601.78 | 6,872.59 |
| Year 5 PV (M) | 6,980.10 | 7,343.57 | 7,722.03 |
| PV of Terminal Value (M) | 128,339.27 | 135,022.20 | 141,980.66 |
| Equity Value (M) | 154,366.30 | 161,963.25 | 169,863.17 |
| Shares Outstanding (M) | 49,000.91 | 49,000.91 | 49,000.91 |
| Fair Value | $3.15 | $3.31 | $3.47 |
| Upside / Downside | -38.59% | -35.57% | -32.43% |
| 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% |