Definitive Analysis
| Stable Growth | $2,739,110.19 - $6,230,670.24 | $5,839,050.49 |
| Multi-Stage | $957,855.90 - $1,046,743.83 | $1,001,489.69 |
| Blended Fair Value | $3,420,270.09 | |
| Current Price | $414,000.00 | |
| Upside | 726.15% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 9.69% | 3.05% | 26,999.71 | 17,999.81 | 18,999.80 | 13,999.85 | 15,999.83 | 16,999.82 | 18,999.80 | 16,999.82 | 19,999.78 | 18,999.80 |
| YoY Growth | - | - | 50.00% | -5.26% | 35.71% | -12.50% | -5.88% | -10.53% | 11.76% | -15.00% | 5.26% | -5.00% |
| Dividend Yield | - | - | 8.19% | 7.04% | 8.26% | 5.52% | 6.35% | 6.91% | 5.90% | 5.01% | 5.03% | 3.86% |
| Net Income To Common (M) | 40,728.89 |
| (-) Cash Dividends Paid (M) | 35,100.00 |
| (=) Cash Retained (M) | 5,628.89 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 8,145.78 | 5,091.11 | 3,054.67 |
| Cash Retained (M) | 5,628.89 | 5,628.89 | 5,628.89 |
| (-) Cash Required (M) | -8,145.78 | -5,091.11 | -3,054.67 |
| (=) Excess Retained (M) | -2,516.89 | 537.78 | 2,574.23 |
| (/) Shares Outstanding (M) | 1.30 | 1.30 | 1.30 |
| (=) Excess Retained per Share | -1,936.05 | 413.67 | 1,980.15 |
| LTM Dividend per Share | 26,999.71 | 26,999.71 | 26,999.71 |
| (+) Excess Retained per Share | -1,936.05 | 413.67 | 1,980.15 |
| (=) Adjusted Dividend | 25,063.66 | 27,413.38 | 28,979.86 |
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $2,739,110.19 | $5,839,050.49 | $6,230,670.24 |
| Upside / Downside | 561.62% | 1,310.40% | 1,404.99% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 40,728.89 | 43,376.27 | 46,195.73 | 49,198.45 | 52,396.35 | 55,802.11 | 57,476.18 |
| Payout Ratio | 86.18% | 86.94% | 87.71% | 88.47% | 89.24% | 90.00% | 92.50% |
| Projected Dividends (M) | 35,100.00 | 37,712.93 | 40,517.24 | 43,526.78 | 46,756.37 | 50,221.90 | 53,165.46 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 35,090.12 | 35,422.72 | 35,755.33 |
| Year 2 PV (M) | 35,077.53 | 35,745.65 | 36,420.08 |
| Year 3 PV (M) | 35,062.28 | 36,068.79 | 37,094.38 |
| Year 4 PV (M) | 35,044.42 | 36,392.13 | 37,778.35 |
| Year 5 PV (M) | 35,024.01 | 36,715.68 | 38,472.10 |
| PV of Terminal Value (M) | 1,069,927.73 | 1,121,605.64 | 1,175,261.38 |
| Equity Value (M) | 1,245,226.08 | 1,301,950.62 | 1,360,781.63 |
| Shares Outstanding (M) | 1.30 | 1.30 | 1.30 |
| Fair Value | $957,855.90 | $1,001,489.69 | $1,046,743.83 |
| Upside / Downside | 131.37% | 141.91% | 152.84% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| MDC | M.D.C. Holdings, Inc. | 0.86% | $0.54 | 55.94% |
| AXP | American Express Company | 0.85% | $3.17 | 20.85% |
| FOXA | Fox Corporation | 0.85% | $0.62 | 13.96% |
| LMST | Limestone Bancorp, Inc. | 0.85% | $0.20 | 8.06% |
| RCL | Royal Caribbean Cruises Ltd. | 0.85% | $2.41 | 16.19% |
| AZZ | AZZ Inc. | 0.84% | $0.92 | 8.89% |
| HIBB | Hibbett, Inc. | 0.84% | $0.74 | 9.00% |
| MAR | Marriott International, Inc. | 0.84% | $2.62 | 27.38% |
| MORN | Morningstar, Inc. | 0.84% | $1.77 | 20.03% |
| SGH | SMART Global Holdings, Inc. | 0.84% | $0.14 | 30.96% |
| URI | United Rentals, Inc. | 0.84% | $7.13 | 18.10% |
| 0HYJ.L | Cintas Corporation | 0.83% | $1.54 | 34.15% |
| EFX | Equifax Inc. | 0.83% | $1.78 | 33.46% |
| GM | General Motors Company | 0.82% | $0.66 | 21.22% |
| KVSA | Khosla Ventures Acquisition Co. | 0.81% | $0.09 | 9.61% |
| WMT | Walmart Inc. | 0.81% | $0.91 | 31.92% |
| BMI | Badger Meter, Inc. | 0.80% | $1.41 | 30.10% |
| FRD | Friedman Industries, Incorporated | 0.80% | $0.16 | 9.82% |
| ITT | ITT Inc. | 0.80% | $1.40 | 22.66% |
| MLI | Mueller Industries, Inc. | 0.80% | $0.94 | 13.89% |
| SSSSL | SuRo Capital Corp. 6.00% Notes due 2026 | 0.80% | $0.20 | 8.46% |
| RGLD | Royal Gold, Inc. | 0.79% | $1.75 | 24.00% |
| VRSK | Verisk Analytics, Inc. | 0.79% | $1.74 | 26.41% |
| COF | Capital One Financial Corporation | 0.78% | $1.94 | 87.57% |
| EE | Excelerate Energy, Inc. | 0.78% | $0.22 | 9.21% |
| 0K36.L | Moody's Corporation | 0.77% | $3.82 | 30.70% |
| HCI | HCI Group, Inc. | 0.77% | $1.42 | 9.00% |
| PH | Parker-Hannifin Corporation | 0.77% | $6.85 | 24.15% |
| SEI | Solaris Energy Infrastructure, Inc. | 0.77% | $0.39 | 44.96% |
| 0HQN.L | Cboe Global Markets, Inc. | 0.76% | $1.90 | 20.31% |
| ASIC | Ategrity Specialty Holdings LLC | 0.76% | $0.15 | 12.77% |
| GL | Globe Life Inc. | 0.75% | $1.03 | 7.35% |
| 0KYY.L | S&P Global Inc. | 0.74% | $3.81 | 28.09% |
| PHM | PulteGroup, Inc. | 0.74% | $0.89 | 6.67% |
| ROP | Roper Technologies, Inc. | 0.74% | $3.20 | 22.09% |
| ZWS | Zurn Elkay Water Solutions Corporation | 0.74% | $0.35 | 30.63% |
| JOE | The St. Joe Company | 0.73% | $0.43 | 24.05% |
| TOL | Toll Brothers, Inc. | 0.73% | $0.99 | 7.16% |
| TTEK | Tetra Tech, Inc. | 0.73% | $0.25 | 26.25% |
| 0HCB.L | Alcoa Corporation | 0.72% | $0.40 | 9.08% |
| A | Agilent Technologies, Inc. | 0.72% | $0.99 | 21.64% |
| FCFS | FirstCash Holdings, Inc | 0.72% | $1.13 | 16.40% |
| TRAK | ReposiTrak, Inc. | 0.72% | $0.09 | 22.94% |
| BKNG | Booking Holdings Inc. | 0.71% | $37.78 | 24.39% |
| PGC | Peapack-Gladstone Financial Corporation | 0.71% | $0.20 | 10.22% |
| ASO | Academy Sports and Outdoors, Inc. | 0.70% | $0.37 | 6.63% |
| BRO | Brown & Brown, Inc. | 0.70% | $0.54 | 18.02% |
| INTU | Intuit Inc. | 0.70% | $4.39 | 29.97% |
| MSFT | Microsoft Corporation | 0.70% | $3.31 | 23.52% |
| NCR | NCR Corporation | 0.70% | $0.11 | 1.70% |