Definitive Analysis
| Stable Growth | $439,862.54 - $518,306.85 | $485,694.96 |
| Multi-Stage | $358,428.76 - $393,666.24 | $375,715.88 |
| Blended Fair Value | $430,705.42 | |
| Current Price | $33,600.00 | |
| Upside | 1,181.86% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -3.70% | 0.00% | 565.84 | 470.99 | 753.59 | 173.84 | 517.23 | 683.34 | 188.08 | 1,088.03 | 1,099.62 | 376.17 |
| YoY Growth | - | - | 20.14% | -37.50% | 333.49% | -66.39% | -24.31% | 263.32% | -82.71% | -1.05% | 192.32% | 0.00% |
| Dividend Yield | - | - | 1.47% | 1.39% | 1.64% | 0.35% | 0.79% | 3.30% | 0.64% | 2.34% | 2.12% | 1.20% |
| Net Income To Common (M) | 130,746.92 |
| (-) Cash Dividends Paid (M) | 38,522.29 |
| (=) Cash Retained (M) | 92,224.63 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 26,149.38 | 16,343.36 | 9,806.02 |
| Cash Retained (M) | 92,224.63 | 92,224.63 | 92,224.63 |
| (-) Cash Required (M) | -26,149.38 | -16,343.36 | -9,806.02 |
| (=) Excess Retained (M) | 66,075.25 | 75,881.26 | 82,418.61 |
| (/) Shares Outstanding (M) | 49.79 | 49.79 | 49.79 |
| (=) Excess Retained per Share | 1,327.04 | 1,523.98 | 1,655.27 |
| LTM Dividend per Share | 773.67 | 773.67 | 773.67 |
| (+) Excess Retained per Share | 1,327.04 | 1,523.98 | 1,655.27 |
| (=) Adjusted Dividend | 2,100.71 | 2,297.65 | 2,428.95 |
| WACC / Discount Rate | -1.97% | -1.97% | -1.97% |
| Growth Rate | 4.69% | 5.69% | 6.69% |
| Fair Value | $439,862.54 | $485,694.96 | $518,306.85 |
| Upside / Downside | 1,209.11% | 1,345.52% | 1,442.58% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 130,746.92 | 138,191.40 | 146,059.76 | 154,376.12 | 163,166.01 | 172,456.37 | 177,630.06 |
| Payout Ratio | 29.46% | 41.57% | 53.68% | 65.79% | 77.89% | 90.00% | 92.50% |
| Projected Dividends (M) | 38,522.29 | 57,446.99 | 78,401.88 | 101,556.79 | 127,094.33 | 155,210.73 | 164,307.81 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | -1.97% | -1.97% | -1.97% |
| Growth Rate | 4.69% | 5.69% | 6.69% |
| Year 1 PV (M) | 58,047.61 | 58,602.06 | 59,156.51 |
| Year 2 PV (M) | 80,049.85 | 81,586.37 | 83,137.50 |
| Year 3 PV (M) | 104,775.56 | 107,806.67 | 110,895.69 |
| Year 4 PV (M) | 132,493.38 | 137,628.50 | 142,911.46 |
| Year 5 PV (M) | 163,495.87 | 171,454.75 | 179,720.60 |
| PV of Terminal Value (M) | 17,307,854.02 | 18,150,390.22 | 19,025,422.89 |
| Equity Value (M) | 17,846,716.29 | 18,707,468.56 | 19,601,244.64 |
| Shares Outstanding (M) | 49.79 | 49.79 | 49.79 |
| Fair Value | $358,428.76 | $375,715.88 | $393,666.24 |
| Upside / Downside | 966.75% | 1,018.20% | 1,071.63% |
| 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% |