Definitive Analysis
| Stable Growth | $6.48 - $28.64 | $15.31 |
| Multi-Stage | $4.23 - $4.62 | $4.42 |
| Blended Fair Value | $9.86 | |
| Current Price | $2.82 | |
| Upside | 249.76% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 6.62% | 28.63% | 0.12 | 0.16 | 0.30 | 0.04 | 0.03 | 0.09 | 0.02 | 0.02 | 0.01 | 0.01 |
| YoY Growth | - | - | -21.22% | -47.98% | 656.50% | 33.33% | -66.67% | 350.00% | 0.00% | 100.00% | -13.04% | 15.00% |
| Dividend Yield | - | - | 5.02% | 6.48% | 12.15% | 1.39% | 1.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 7,260.25 |
| (-) Cash Dividends Paid (M) | 6,200.00 |
| (=) Cash Retained (M) | 1,060.25 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,452.05 | 907.53 | 544.52 |
| Cash Retained (M) | 1,060.25 | 1,060.25 | 1,060.25 |
| (-) Cash Required (M) | -1,452.05 | -907.53 | -544.52 |
| (=) Excess Retained (M) | -391.80 | 152.72 | 515.73 |
| (/) Shares Outstanding (M) | 50,000.00 | 50,000.00 | 50,000.00 |
| (=) Excess Retained per Share | -0.01 | 0.00 | 0.01 |
| LTM Dividend per Share | 0.12 | 0.12 | 0.12 |
| (+) Excess Retained per Share | -0.01 | 0.00 | 0.01 |
| (=) Adjusted Dividend | 0.12 | 0.13 | 0.13 |
| WACC / Discount Rate | 6.50% | 6.50% | 6.50% |
| Growth Rate | 4.62% | 5.62% | 6.62% |
| Fair Value | $6.48 | $15.31 | $28.64 |
| Upside / Downside | 129.63% | 442.74% | 915.64% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,260.25 | 7,668.22 | 8,099.12 | 8,554.24 | 9,034.93 | 9,542.63 | 9,828.91 |
| Payout Ratio | 85.40% | 86.32% | 87.24% | 88.16% | 89.08% | 90.00% | 92.50% |
| Projected Dividends (M) | 6,200.00 | 6,619.00 | 7,065.51 | 7,541.30 | 8,048.25 | 8,588.36 | 9,091.74 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.50% | 6.50% | 6.50% |
| Growth Rate | 4.62% | 5.62% | 6.62% |
| Year 1 PV (M) | 6,156.40 | 6,215.25 | 6,274.10 |
| Year 2 PV (M) | 6,112.42 | 6,229.83 | 6,348.35 |
| Year 3 PV (M) | 6,068.07 | 6,243.75 | 6,422.78 |
| Year 4 PV (M) | 6,023.39 | 6,257.01 | 6,497.36 |
| Year 5 PV (M) | 5,978.40 | 6,269.64 | 6,572.11 |
| PV of Terminal Value (M) | 181,025.77 | 189,844.39 | 199,003.40 |
| Equity Value (M) | 211,364.46 | 221,059.87 | 231,118.10 |
| Shares Outstanding (M) | 50,000.00 | 50,000.00 | 50,000.00 |
| Fair Value | $4.23 | $4.42 | $4.62 |
| Upside / Downside | 49.90% | 56.78% | 63.91% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| HUBB | Hubbell Incorporated | 1.14% | $5.26 | 32.54% |
| MATX | Matson, Inc. | 1.14% | $1.42 | 10.47% |
| SNX | TD SYNNEX Corporation | 1.14% | $1.74 | 18.66% |
| ARMK | Aramark | 1.13% | $0.42 | 33.95% |
| CVLG | Covenant Logistics Group, Inc. | 1.13% | $0.25 | 21.30% |
| EQT | EQT Corporation | 1.13% | $0.61 | 21.38% |
| WHD | Cactus, Inc. | 1.13% | $0.53 | 21.20% |
| CFBK | CF Bankshares Inc. | 1.12% | $0.28 | 10.89% |
| LII | Lennox International Inc. | 1.12% | $5.59 | 23.57% |
| ROL | Rollins, Inc. | 1.12% | $0.66 | 61.92% |
| FELE | Franklin Electric Co., Inc. | 1.11% | $1.07 | 34.36% |
| GOLF | Acushnet Holdings Corp. | 1.11% | $0.91 | 24.93% |
| KOP | Koppers Holdings Inc. | 1.11% | $0.30 | 37.27% |
| MWA | Mueller Water Products, Inc. | 1.11% | $0.27 | 21.86% |
| RSG | Republic Services, Inc. | 1.11% | $2.33 | 34.47% |
| 0HOU.L | BorgWarner Inc. | 1.10% | $0.50 | 80.60% |
| 0K3H.L | Motorola Solutions, Inc. | 1.10% | $4.20 | 33.55% |
| FBK | FB Financial Corporation | 1.10% | $0.62 | 32.29% |
| AGCO | AGCO Corporation | 1.09% | $1.16 | 23.05% |
| VRE | Veris Residential, Inc. | 1.09% | $0.16 | 26.28% |
| ALSN | Allison Transmission Holdings, Inc. | 1.08% | $1.07 | 12.88% |
| CSV | Carriage Services, Inc. | 1.08% | $0.45 | 14.21% |
| LFUS | Littelfuse, Inc. | 1.08% | $2.83 | 59.57% |
| OSBC | Old Second Bancorp, Inc. | 1.08% | $0.21 | 15.92% |
| TPX | Tempur Sealy International, Inc. | 1.08% | $0.62 | 42.01% |
| WSC | WillScot Holdings Corporation | 1.08% | $0.21 | 17.16% |
| BVH | Bluegreen Vacations Holding Corporation | 1.07% | $0.80 | 18.69% |
| HNNAZ | Hennessy Advisors, Inc. 4.875% Notes due 2026 | 1.07% | $0.27 | 21.11% |
| HTB | HomeTrust Bancshares, Inc. | 1.07% | $0.46 | 12.57% |
| ZBH | Zimmer Biomet Holdings, Inc. | 1.07% | $0.96 | 23.70% |
| DOV | Dover Corporation | 1.05% | $2.06 | 12.63% |
| NDAQ | Nasdaq, Inc. | 1.05% | $1.01 | 36.06% |
| 0H9N.L | Aecom | 1.04% | $1.00 | 23.78% |
| BODY | The Beachbody Company, Inc. | 1.04% | $0.10 | 1.61% |
| LYTS | LSI Industries Inc. | 1.04% | $0.19 | 24.09% |
| UNTY | Unity Bancorp, Inc. | 1.04% | $0.53 | 10.03% |
| CTVA | Corteva, Inc. | 1.03% | $0.70 | 29.41% |
| TJX | The TJX Companies, Inc. | 1.03% | $1.59 | 35.03% |
| ABCB | Ameris Bancorp | 1.02% | $0.76 | 13.03% |
| CRAI | CRA International, Inc. | 1.02% | $2.05 | 23.94% |
| CTA-PB | E. I. du Pont de Nemours and Company | 1.02% | $0.70 | 29.41% |
| FNWD | Finward Bancorp | 1.02% | $0.36 | 33.06% |
| HSII | Heidrick & Struggles International, Inc. | 1.02% | $0.60 | 34.74% |
| LNG | Cheniere Energy, Inc. | 1.02% | $2.02 | 11.09% |
| 0HTG.L | Cardinal Health, Inc. | 1.01% | $2.07 | 31.03% |
| 0I4X.L | Crown Holdings, Inc. | 1.01% | $1.03 | 12.58% |
| CMC | Commercial Metals Company | 1.01% | $0.72 | 96.19% |
| TR | Tootsie Roll Industries, Inc. | 1.01% | $0.36 | 27.67% |
| KNX | Knight-Swift Transportation Holdings Inc. | 1.00% | $0.52 | 59.68% |
| PNFP | Pinnacle Financial Partners, Inc. | 1.00% | $0.96 | 11.84% |