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 % ⇵ |
|---|---|---|---|---|
| KKR | KKR & Co. Inc. | 0.55% | $0.71 | 28.86% |
| UHS | Universal Health Services, Inc. | 0.55% | $1.21 | 5.70% |
| 0I0T.L | Coca-Cola Consolidated, Inc. | 0.54% | $0.81 | 11.41% |
| HSTM | HealthStream, Inc. | 0.54% | $0.12 | 17.69% |
| LLY | Eli Lilly and Company | 0.54% | $5.79 | 28.28% |
| TECH | Bio-Techne Corporation | 0.54% | $0.32 | 64.31% |
| TRU | TransUnion | 0.54% | $0.45 | 21.24% |
| VST | Vistra Corp. | 0.54% | $0.89 | 26.39% |
| 0R2Z.L | Mastercard Incorporated | 0.52% | $2.96 | 18.79% |
| DHR | Danaher Corporation | 0.52% | $1.19 | 24.18% |
| MKSI | MKS Inc. | 0.52% | $0.87 | 21.15% |
| 0JT5.L | Lam Research Corporation | 0.51% | $0.93 | 20.32% |
| 0JZ0.L | Martin Marietta Materials, Inc. | 0.51% | $3.22 | 16.93% |
| EVTC | EVERTEC, Inc. | 0.51% | $0.15 | 6.55% |
| GPI | Group 1 Automotive, Inc. | 0.51% | $2.01 | 6.83% |
| MUSA | Murphy USA Inc. | 0.51% | $2.05 | 8.36% |
| PCG | Pacific Gas & Electric Co. | 0.51% | $0.08 | 6.94% |
| CHE | Chemed Corporation | 0.50% | $2.11 | 11.01% |
| FBIO | Fortress Biotech, Inc. | 0.50% | $0.02 | 16.65% |
| HWKN | Hawkins, Inc. | 0.50% | $0.73 | 18.33% |
| NMRK | Newmark Group, Inc. | 0.50% | $0.08 | 20.64% |
| PRLH | Pearl Holdings Acquisition Corp | 0.50% | $0.06 | 54.69% |
| EXP | Eagle Materials Inc. | 0.48% | $1.02 | 7.46% |
| FCAX | Fortress Capital Acquisition Corp. | 0.48% | $0.05 | 6.11% |
| FSS | Federal Signal Corporation | 0.48% | $0.54 | 13.95% |
| AAON | AAON, Inc. | 0.47% | $0.37 | 30.87% |
| CR | Crane Company | 0.47% | $0.88 | 14.07% |
| HGTY | Hagerty, Inc. | 0.47% | $0.06 | 12.93% |
| IDCC | InterDigital, Inc. | 0.47% | $1.55 | 10.87% |
| PCG-PI | Pacific Gas and Electric Company PFD 1ST 4.36% | 0.47% | $0.08 | 6.94% |
| SEB | Seaboard Corporation | 0.47% | $20.86 | 5.03% |
| AMEH | Apollo Medical Holdings, Inc. | 0.46% | $0.18 | 93.62% |
| IDT | IDT Corporation | 0.46% | $0.23 | 7.15% |
| KAI | Kadant Inc. | 0.46% | $1.32 | 15.23% |
| PRGS | Progress Software Corporation | 0.46% | $0.19 | 17.10% |
| UI | Ubiquiti Inc. | 0.46% | $2.60 | 19.86% |
| WWE | World Wrestling Entertainment, Inc. | 0.46% | $0.46 | 21.62% |
| APH | Amphenol Corporation | 0.45% | $0.62 | 20.92% |
| DIS | The Walt Disney Company | 0.45% | $0.50 | 7.30% |
| ENTG | Entegris, Inc. | 0.45% | $0.40 | 21.08% |
| PCG-PC | Pacific Gas and Electric Company PFD 1ST 5% | 0.45% | $0.08 | 6.94% |
| WMS | Advanced Drainage Systems, Inc. | 0.45% | $0.68 | 11.54% |
| REVG | REV Group, Inc. | 0.44% | $0.27 | 14.08% |
| RYAN | Ryan Specialty Holdings, Inc. | 0.44% | $0.22 | 87.54% |
| TRS | TriMas Corporation | 0.44% | $0.16 | 14.97% |
| WAB | Westinghouse Air Brake Technologies Corporation | 0.44% | $0.96 | 13.90% |
| WING | Wingstop Inc. | 0.44% | $1.14 | 18.31% |
| TW | Tradeweb Markets Inc. | 0.43% | $0.46 | 15.57% |
| IBKR | Interactive Brokers Group, Inc. | 0.42% | $0.28 | 13.63% |
| MTRN | Materion Corporation | 0.42% | $0.55 | 58.77% |