DDM Analysis: WAB

Valuation Snapshot

Stable Growth	$157.70 - $406.45	$238.99
Multi-Stage	$107.52 - $117.54	$112.44
Blended Fair Value	$175.71
Current Price	$200.47
Upside	-12.35%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	11.37%	21.95%	0.82	0.72	0.65	0.54	0.54	0.48	0.27	0.25	0.19	0.16
YoY Growth	-	-	13.82%	10.81%	20.65%	-0.54%	13.22%	76.55%	9.61%	30.18%	20.28%	40.10%
Dividend Yield	-	-	0.45%	0.50%	0.64%	0.56%	0.68%	0.99%	0.36%	0.30%	0.24%	0.20%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	1,180.00
(-) Cash Dividends Paid (M)	164.00
(=) Cash Retained (M)	1,016.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	236.00	147.50	88.50
Cash Retained (M)	1,016.00	1,016.00	1,016.00
(-) Cash Required (M)	-236.00	-147.50	-88.50
(=) Excess Retained (M)	780.00	868.50	927.50
(/) Shares Outstanding (M)	171.43	171.43	171.43
(=) Excess Retained per Share	4.55	5.07	5.41
LTM Dividend per Share	0.96	0.96	0.96
(+) Excess Retained per Share	4.55	5.07	5.41
(=) Adjusted Dividend	5.51	6.02	6.37
WACC / Discount Rate	9.18%	9.18%	9.18%
Growth Rate	5.50%	6.50%	7.50%
Fair Value	$157.70	$238.99	$406.45
Upside / Downside	-21.34%	19.22%	102.75%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	1,180.00	1,256.70	1,338.39	1,425.38	1,518.03	1,616.70	1,665.20
Payout Ratio	13.90%	29.12%	44.34%	59.56%	74.78%	90.00%	92.50%
Projected Dividends (M)	164.00	365.93	593.43	848.95	1,135.18	1,455.03	1,540.31

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	9.18%	9.18%	9.18%
Growth Rate	5.50%	6.50%	7.50%
Year 1 PV (M)	332.01	335.15	338.30
Year 2 PV (M)	488.49	497.79	507.19
Year 3 PV (M)	634.03	652.23	670.78
Year 4 PV (M)	769.20	798.78	829.21
Year 5 PV (M)	894.52	937.73	982.59
PV of Terminal Value (M)	15,312.90	16,052.51	16,820.44
Equity Value (M)	18,431.15	19,274.20	20,148.50
Shares Outstanding (M)	171.43	171.43	171.43
Fair Value	$107.52	$112.44	$117.54
Upside / Downside	-46.37%	-43.91%	-41.37%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 25 of 30 Next »

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%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

Westinghouse Air Brake Technologies Corporation (WAB)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener