Definitive Analysis
| Stable Growth | $11,097.38 - $20,883.73 | $15,072.00 |
| Multi-Stage | $18,498.96 - $20,325.33 | $19,394.63 |
| Blended Fair Value | $17,233.32 | |
| Current Price | $8,175.00 | |
| Upside | 110.81% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 2.14% | -6.55% | 248.97 | 400.96 | 443.95 | 254.97 | 90.99 | 223.98 | 433.96 | 517.95 | 98.99 | 386.14 |
| YoY Growth | - | - | -37.91% | -9.68% | 74.12% | 180.22% | -59.38% | -48.39% | -16.22% | 423.23% | -74.36% | -21.20% |
| Dividend Yield | - | - | 4.45% | 5.79% | 5.48% | 2.03% | 0.91% | 4.15% | 3.85% | 3.84% | 0.66% | 2.69% |
| Net Income To Common (M) | 1,416,511.00 |
| (-) Cash Dividends Paid (M) | 515,764.00 |
| (=) Cash Retained (M) | 900,747.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 283,302.20 | 177,063.88 | 106,238.33 |
| Cash Retained (M) | 900,747.00 | 900,747.00 | 900,747.00 |
| (-) Cash Required (M) | -283,302.20 | -177,063.88 | -106,238.33 |
| (=) Excess Retained (M) | 617,444.80 | 723,683.13 | 794,508.68 |
| (/) Shares Outstanding (M) | 1,924.69 | 1,924.69 | 1,924.69 |
| (=) Excess Retained per Share | 320.80 | 376.00 | 412.80 |
| LTM Dividend per Share | 267.97 | 267.97 | 267.97 |
| (+) Excess Retained per Share | 320.80 | 376.00 | 412.80 |
| (=) Adjusted Dividend | 588.78 | 643.97 | 680.77 |
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 0.95% | 1.95% | 2.95% |
| Fair Value | $11,097.38 | $15,072.00 | $20,883.73 |
| Upside / Downside | 35.75% | 84.37% | 155.46% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 1,416,511.00 | 1,444,164.13 | 1,472,357.11 | 1,501,100.47 | 1,530,404.96 | 1,560,281.53 | 1,607,089.98 |
| Payout Ratio | 36.41% | 47.13% | 57.85% | 68.56% | 79.28% | 90.00% | 92.50% |
| Projected Dividends (M) | 515,764.00 | 680,615.74 | 851,707.39 | 1,029,219.76 | 1,213,338.33 | 1,404,253.38 | 1,486,558.23 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 0.95% | 1.95% | 2.95% |
| Year 1 PV (M) | 633,948.81 | 640,228.50 | 646,508.19 |
| Year 2 PV (M) | 738,915.56 | 753,626.99 | 768,483.42 |
| Year 3 PV (M) | 831,696.19 | 856,657.36 | 882,113.04 |
| Year 4 PV (M) | 913,252.17 | 949,978.92 | 987,802.42 |
| Year 5 PV (M) | 984,479.03 | 1,034,214.30 | 1,085,939.65 |
| PV of Terminal Value (M) | 31,502,426.42 | 33,093,909.56 | 34,749,073.11 |
| Equity Value (M) | 35,604,718.17 | 37,328,615.63 | 39,119,919.82 |
| Shares Outstanding (M) | 1,924.69 | 1,924.69 | 1,924.69 |
| Fair Value | $18,498.96 | $19,394.63 | $20,325.33 |
| Upside / Downside | 126.29% | 137.24% | 148.63% |
| 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% |