Definitive Analysis
| Stable Growth | $294,927.47 - $614,752.57 | $416,189.58 |
| Multi-Stage | $1,371,563.77 - $1,518,265.52 | $1,443,418.61 |
| Blended Fair Value | $929,804.09 | |
| Current Price | $216,000.00 | |
| Upside | 330.46% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -12.59% | 18.18% | 3,277.39 | 6,993.99 | 6,135.45 | 9,084.13 | 5,546.10 | 6,423.28 | 7,976.14 | 4,183.31 | 3,096.78 | 3,539.06 |
| YoY Growth | - | - | -53.14% | 13.99% | -32.46% | 63.79% | -13.66% | -19.47% | 90.67% | 35.09% | -12.50% | 473.62% |
| Dividend Yield | - | - | 2.19% | 3.40% | 1.65% | 1.94% | 0.64% | 0.99% | 1.63% | 1.00% | 1.02% | 1.40% |
| Net Income To Common (M) | 341,592.84 |
| (-) Cash Dividends Paid (M) | 28,314.46 |
| (=) Cash Retained (M) | 313,278.38 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 68,318.57 | 42,699.11 | 25,619.46 |
| Cash Retained (M) | 313,278.38 | 313,278.38 | 313,278.38 |
| (-) Cash Required (M) | -68,318.57 | -42,699.11 | -25,619.46 |
| (=) Excess Retained (M) | 244,959.81 | 270,579.27 | 287,658.91 |
| (/) Shares Outstanding (M) | 19.40 | 19.40 | 19.40 |
| (=) Excess Retained per Share | 12,629.56 | 13,950.44 | 14,831.03 |
| LTM Dividend per Share | 1,459.83 | 1,459.83 | 1,459.83 |
| (+) Excess Retained per Share | 12,629.56 | 13,950.44 | 14,831.03 |
| (=) Adjusted Dividend | 14,089.39 | 15,410.27 | 16,290.86 |
| WACC / Discount Rate | 1.12% | 1.12% | 1.12% |
| Growth Rate | -3.49% | -2.49% | -1.49% |
| Fair Value | $294,927.47 | $416,189.58 | $614,752.57 |
| Upside / Downside | 36.54% | 92.68% | 184.61% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 341,592.84 | 333,085.26 | 324,789.57 | 316,700.49 | 308,812.87 | 301,121.70 | 310,155.35 |
| Payout Ratio | 8.29% | 24.63% | 40.97% | 57.32% | 73.66% | 90.00% | 92.50% |
| Projected Dividends (M) | 28,314.46 | 82,042.77 | 133,077.24 | 181,518.72 | 227,464.74 | 271,009.53 | 286,893.70 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 1.12% | 1.12% | 1.12% |
| Growth Rate | -3.49% | -2.49% | -1.49% |
| Year 1 PV (M) | 80,302.06 | 81,134.13 | 81,966.19 |
| Year 2 PV (M) | 127,490.13 | 130,145.84 | 132,828.93 |
| Year 3 PV (M) | 170,208.25 | 175,554.19 | 181,010.92 |
| Year 4 PV (M) | 208,765.94 | 217,554.02 | 226,616.68 |
| Year 5 PV (M) | 243,453.78 | 256,330.84 | 269,747.11 |
| PV of Terminal Value (M) | 25,772,287.90 | 27,135,467.46 | 28,555,728.72 |
| Equity Value (M) | 26,602,508.06 | 27,996,186.48 | 29,447,898.54 |
| Shares Outstanding (M) | 19.40 | 19.40 | 19.40 |
| Fair Value | $1,371,563.77 | $1,443,418.61 | $1,518,265.52 |
| Upside / Downside | 534.98% | 568.25% | 602.90% |
| 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% |