Definitive Analysis
| Stable Growth | $211,353.65 - $544,561.32 | $320,301.27 |
| Multi-Stage | $256,076.27 - $281,047.53 | $268,325.88 |
| Blended Fair Value | $294,313.58 | |
| Current Price | $39,100.00 | |
| Upside | 652.72% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | -27.86% | 213.10% | 284.10 | 85.52 | 2,608.22 | 82.34 | 559.28 | 1,454.09 | 96.20 | 77.62 | 162.08 | 238.35 |
| YoY Growth | - | - | 232.20% | -96.72% | 3,067.55% | -85.28% | -61.54% | 1,411.55% | 23.94% | -52.11% | -32.00% | 7,596,063.31% |
| Dividend Yield | - | - | 0.80% | 0.32% | 9.62% | 0.21% | 1.66% | 6.76% | 0.20% | 0.16% | 0.36% | 0.62% |
| Net Income To Common (M) | 872,328.27 |
| (-) Cash Dividends Paid (M) | 254,082.89 |
| (=) Cash Retained (M) | 618,245.39 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 174,465.65 | 109,041.03 | 65,424.62 |
| Cash Retained (M) | 618,245.39 | 618,245.39 | 618,245.39 |
| (-) Cash Required (M) | -174,465.65 | -109,041.03 | -65,424.62 |
| (=) Excess Retained (M) | 443,779.73 | 509,204.35 | 552,820.77 |
| (/) Shares Outstanding (M) | 91.92 | 91.92 | 91.92 |
| (=) Excess Retained per Share | 4,827.92 | 5,539.68 | 6,014.18 |
| LTM Dividend per Share | 2,764.19 | 2,764.19 | 2,764.19 |
| (+) Excess Retained per Share | 4,827.92 | 5,539.68 | 6,014.18 |
| (=) Adjusted Dividend | 7,592.11 | 8,303.87 | 8,778.37 |
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.63% | 3.63% | 4.63% |
| Fair Value | $211,353.65 | $320,301.27 | $544,561.32 |
| Upside / Downside | 440.55% | 719.18% | 1,292.74% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 872,328.27 | 904,010.09 | 936,842.55 | 970,867.44 | 1,006,128.07 | 1,042,669.32 | 1,073,949.40 |
| Payout Ratio | 29.13% | 41.30% | 53.48% | 65.65% | 77.83% | 90.00% | 92.50% |
| Projected Dividends (M) | 254,082.89 | 373,370.49 | 500,987.69 | 637,382.17 | 783,023.16 | 938,402.39 | 993,403.20 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.32% | 6.32% | 6.32% |
| Growth Rate | 2.63% | 3.63% | 4.63% |
| Year 1 PV (M) | 347,792.23 | 351,180.97 | 354,569.70 |
| Year 2 PV (M) | 434,697.19 | 443,209.46 | 451,804.26 |
| Year 3 PV (M) | 515,156.97 | 530,362.56 | 545,864.46 |
| Year 4 PV (M) | 589,514.06 | 612,827.92 | 636,826.53 |
| Year 5 PV (M) | 658,094.95 | 690,786.79 | 724,765.12 |
| PV of Terminal Value (M) | 20,993,147.73 | 22,036,013.34 | 23,119,917.94 |
| Equity Value (M) | 23,538,403.14 | 24,664,381.04 | 25,833,748.02 |
| Shares Outstanding (M) | 91.92 | 91.92 | 91.92 |
| Fair Value | $256,076.27 | $268,325.88 | $281,047.53 |
| Upside / Downside | 554.93% | 586.26% | 618.79% |
| 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% |