Definitive Analysis
| Stable Growth | $2,888,104.95 - $6,555,281.36 | $6,143,258.65 |
| Multi-Stage | $968,242.19 - $1,060,285.42 | $1,013,416.27 |
| Blended Fair Value | $3,578,337.46 | |
| Current Price | $231,500.00 | |
| Upside | 1,445.72% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.26% | 17.61% | 7,957.48 | 7,460.14 | 6,067.58 | 3,978.74 | 2,941.28 | 2,913.05 | 2,500.36 | 2,932.20 | 2,215.77 | 2,117.66 |
| YoY Growth | - | - | 6.67% | 22.95% | 52.50% | 35.27% | 0.97% | 16.51% | -14.73% | 32.33% | 4.63% | 34.70% |
| Dividend Yield | - | - | 3.22% | 4.85% | 5.11% | 3.46% | 2.76% | 4.63% | 2.79% | 3.12% | 1.89% | 2.76% |
| Net Income To Common (M) | 297,414.48 |
| (-) Cash Dividends Paid (M) | 71,920.37 |
| (=) Cash Retained (M) | 225,494.11 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 59,482.90 | 37,176.81 | 22,306.09 |
| Cash Retained (M) | 225,494.11 | 225,494.11 | 225,494.11 |
| (-) Cash Required (M) | -59,482.90 | -37,176.81 | -22,306.09 |
| (=) Excess Retained (M) | 166,011.21 | 188,317.30 | 203,188.02 |
| (/) Shares Outstanding (M) | 9.02 | 9.02 | 9.02 |
| (=) Excess Retained per Share | 18,398.67 | 20,870.81 | 22,518.90 |
| LTM Dividend per Share | 7,970.78 | 7,970.78 | 7,970.78 |
| (+) Excess Retained per Share | 18,398.67 | 20,870.81 | 22,518.90 |
| (=) Adjusted Dividend | 26,369.45 | 28,841.59 | 30,489.68 |
| WACC / Discount Rate | 6.46% | 6.46% | 6.46% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $2,888,104.95 | $6,143,258.65 | $6,555,281.36 |
| Upside / Downside | 1,147.56% | 2,553.68% | 2,731.66% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 297,414.48 | 316,746.42 | 337,334.93 | 359,261.70 | 382,613.71 | 407,483.61 | 419,708.11 |
| Payout Ratio | 24.18% | 37.35% | 50.51% | 63.67% | 76.84% | 90.00% | 92.50% |
| Projected Dividends (M) | 71,920.37 | 118,290.51 | 170,384.90 | 228,751.79 | 293,986.50 | 366,735.25 | 388,230.01 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.46% | 6.46% | 6.46% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 110,065.96 | 111,109.24 | 112,152.52 |
| Year 2 PV (M) | 147,515.40 | 150,325.15 | 153,161.41 |
| Year 3 PV (M) | 184,278.16 | 189,568.12 | 194,958.36 |
| Year 4 PV (M) | 220,363.60 | 228,838.16 | 237,554.84 |
| Year 5 PV (M) | 255,780.97 | 268,135.29 | 280,962.44 |
| PV of Terminal Value (M) | 7,818,445.22 | 8,196,079.04 | 8,588,165.81 |
| Equity Value (M) | 8,736,449.30 | 9,144,055.00 | 9,566,955.37 |
| Shares Outstanding (M) | 9.02 | 9.02 | 9.02 |
| Fair Value | $968,242.19 | $1,013,416.27 | $1,060,285.42 |
| Upside / Downside | 318.25% | 337.76% | 358.01% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| ODFL | Old Dominion Freight Line, Inc. | 0.69% | $1.10 | 22.00% |
| RRBI | Red River Bancshares, Inc. | 0.69% | $0.48 | 7.90% |
| SSD | Simpson Manufacturing Co., Inc. | 0.69% | $1.14 | 13.76% |
| WCC | WESCO International, Inc. | 0.69% | $1.75 | 13.38% |
| ALG | Alamo Group Inc. | 0.68% | $1.15 | 11.96% |
| CBK | Commercial Bancgroup, Inc. Common Stock | 0.68% | $0.16 | 6.13% |
| IRMD | IRadimed Corporation | 0.68% | $0.65 | 39.59% |
| UNF | UniFirst Corporation | 0.68% | $1.32 | 16.37% |
| WTS | Watts Water Technologies, Inc. | 0.68% | $1.90 | 19.65% |
| 0HF3.L | Cencora | 0.67% | $2.25 | 28.12% |
| AIT | Applied Industrial Technologies, Inc. | 0.67% | $1.75 | 16.64% |
| CLMB | Climb Global Solutions, Inc. | 0.67% | $0.68 | 14.50% |
| ASTH | Astrana Health, Inc. | 0.66% | $0.17 | 86.52% |
| AVGO | Broadcom Inc. | 0.66% | $2.28 | 48.18% |
| ENS | EnerSys | 0.66% | $0.99 | 11.20% |
| HLIO | Helios Technologies, Inc. | 0.66% | $0.36 | 35.50% |
| ICFI | ICF International, Inc. | 0.66% | $0.56 | 10.52% |
| VMC | Vulcan Materials Company | 0.66% | $1.93 | 22.82% |
| AAME | Atlantic American Corporation | 0.65% | $0.02 | 7.99% |
| AMAT | Applied Materials, Inc. | 0.65% | $1.73 | 19.78% |
| CRM | Salesforce, Inc. | 0.65% | $1.64 | 21.86% |
| GHC | Graham Holdings Company | 0.65% | $7.06 | 4.22% |
| LFAC | LF Capital Acquisition Corp. II | 0.65% | $0.07 | 24.33% |
| BSY | Bentley Systems, Incorporated | 0.64% | $0.25 | 30.41% |
| EHC | Encompass Health Corporation | 0.64% | $0.68 | 12.77% |
| LAD | Lithia Motors, Inc. | 0.64% | $2.13 | 6.25% |
| PRBM | Parabellum Acquisition Corp. | 0.64% | $0.06 | 5.11% |
| VRSN | VeriSign, Inc. | 0.64% | $1.54 | 17.77% |
| AWI | Armstrong World Industries, Inc. | 0.63% | $1.24 | 17.71% |
| ESQ | Esquire Financial Holdings, Inc. | 0.63% | $0.64 | 11.29% |
| SGI | Somnigroup International Inc | 0.63% | $0.56 | 37.60% |
| ULS | UL Solutions Inc. | 0.63% | $0.51 | 30.38% |
| VMI | Valmont Industries, Inc. | 0.63% | $2.58 | 21.97% |
| ARCB | ArcBest Corporation | 0.62% | $0.48 | 11.39% |
| V | Visa Inc. | 0.62% | $2.13 | 23.10% |
| LSXMA | The Liberty SiriusXM Group | 0.61% | $0.14 | 1.73% |
| 0J1R.L | HCA Healthcare, Inc. | 0.60% | $2.81 | 10.70% |
| MPWR | Monolithic Power Systems, Inc. | 0.60% | $5.66 | 14.34% |
| RXN | Zurn Water Solutions Corporation | 0.60% | $0.39 | 24.10% |
| 0I47.L | Costco Wholesale Corporation | 0.59% | $5.05 | 27.04% |
| DJCO | Daily Journal Corporation | 0.59% | $2.95 | 4.20% |
| DRS | Leonardo DRS, Inc. | 0.59% | $0.20 | 20.75% |
| FCNCA | First Citizens BancShares, Inc. | 0.59% | $12.69 | 7.01% |
| AME | AMETEK, Inc. | 0.58% | $1.20 | 19.00% |
| KLAC | KLA Corporation | 0.57% | $7.26 | 22.67% |
| SXI | Standex International Corporation | 0.57% | $1.27 | 29.15% |
| RDVT | Red Violet, Inc. | 0.56% | $0.29 | 37.32% |
| 0IRE.L | Fortive Corporation | 0.55% | $0.30 | 16.72% |
| AIMC | Altra Industrial Motion Corp. | 0.55% | $0.34 | 17.56% |
| BWXT | BWX Technologies, Inc. | 0.55% | $1.00 | 29.87% |