Definitive Analysis
| Stable Growth | $977,192.48 - $4,547,629.81 | $2,185,747.80 |
| Multi-Stage | $579,381.00 - $632,761.74 | $605,585.88 |
| Blended Fair Value | $1,395,666.84 | |
| Current Price | $271,600.00 | |
| Upside | 413.87% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 7.14% | 14.26% | 11,115.33 | 10,223.69 | 10,111.30 | 9,498.86 | 8,858.87 | 7,873.56 | 7,041.75 | 6,123.04 | 5,462.52 | 4,547.39 |
| YoY Growth | - | - | 8.72% | 1.11% | 6.45% | 7.22% | 12.51% | 11.81% | 15.00% | 12.09% | 20.12% | 55.13% |
| Dividend Yield | - | - | 3.57% | 3.00% | 2.98% | 2.71% | 2.68% | 2.42% | 2.69% | 2.64% | 2.24% | 1.91% |
| Net Income To Common (M) | 17,385.95 |
| (-) Cash Dividends Paid (M) | 14,716.31 |
| (=) Cash Retained (M) | 2,669.64 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,477.19 | 2,173.24 | 1,303.95 |
| Cash Retained (M) | 2,669.64 | 2,669.64 | 2,669.64 |
| (-) Cash Required (M) | -3,477.19 | -2,173.24 | -1,303.95 |
| (=) Excess Retained (M) | -807.55 | 496.39 | 1,365.69 |
| (/) Shares Outstanding (M) | 0.76 | 0.76 | 0.76 |
| (=) Excess Retained per Share | -1,065.70 | 655.08 | 1,802.26 |
| LTM Dividend per Share | 19,420.65 | 19,420.65 | 19,420.65 |
| (+) Excess Retained per Share | -1,065.70 | 655.08 | 1,802.26 |
| (=) Adjusted Dividend | 18,354.95 | 20,075.72 | 21,222.91 |
| WACC / Discount Rate | 7.11% | 7.11% | 7.11% |
| Growth Rate | 5.14% | 6.14% | 7.14% |
| Fair Value | $977,192.48 | $2,185,747.80 | $4,547,629.81 |
| Upside / Downside | 259.79% | 704.77% | 1,574.39% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 17,385.95 | 18,453.39 | 19,586.36 | 20,788.90 | 22,065.26 | 23,420.00 | 24,122.60 |
| Payout Ratio | 84.64% | 85.72% | 86.79% | 87.86% | 88.93% | 90.00% | 92.50% |
| Projected Dividends (M) | 14,716.31 | 15,817.48 | 16,998.40 | 18,264.70 | 19,622.41 | 21,078.00 | 22,313.40 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.11% | 7.11% | 7.11% |
| Growth Rate | 5.14% | 6.14% | 7.14% |
| Year 1 PV (M) | 14,627.76 | 14,766.89 | 14,906.01 |
| Year 2 PV (M) | 14,537.47 | 14,815.33 | 15,095.81 |
| Year 3 PV (M) | 14,445.54 | 14,861.66 | 15,285.69 |
| Year 4 PV (M) | 14,352.06 | 14,905.92 | 15,475.66 |
| Year 5 PV (M) | 14,257.12 | 14,948.15 | 15,665.71 |
| PV of Terminal Value (M) | 366,815.41 | 384,594.61 | 403,056.61 |
| Equity Value (M) | 439,035.36 | 458,892.54 | 479,485.49 |
| Shares Outstanding (M) | 0.76 | 0.76 | 0.76 |
| Fair Value | $579,381.00 | $605,585.88 | $632,761.74 |
| Upside / Downside | 113.32% | 122.97% | 132.98% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| ORA | Ormat Technologies, Inc. | 0.42% | $0.48 | 21.81% |
| VLTO | Veralto Corporation | 0.42% | $0.42 | 11.39% |
| CEG | Constellation Energy Corporation | 0.41% | $1.52 | 17.38% |
| EXPE | Expedia Group, Inc. | 0.41% | $1.15 | 10.88% |
| GE | GE Aerospace | 0.40% | $1.29 | 17.08% |
| GEHCV | GE HealthCare Technologies Inc. | 0.40% | $0.23 | 5.05% |
| ATMU | Atmus Filtration Technologies Inc. | 0.39% | $0.20 | 8.42% |
| BMNR | Bitmine Immersion Technologies, Inc. | 0.39% | $0.12 | 0.85% |
| CHDN | Churchill Downs Incorporated | 0.39% | $0.43 | 7.61% |
| PLPC | Preformed Line Products Company | 0.39% | $0.83 | 11.03% |
| AAPL | Apple Inc. | 0.38% | $1.03 | 13.77% |
| AMOT | Allied Motion Technologies Inc. | 0.38% | $0.12 | 21.85% |
| CASY | Casey's General Stores, Inc. | 0.38% | $2.09 | 12.85% |
| EA | Electronic Arts Inc. | 0.38% | $0.77 | 21.92% |
| LOB | Live Oak Bancshares, Inc. | 0.37% | $0.13 | 8.44% |
| PCG-PA | Pacific Gas and Electric Company | 0.37% | $0.08 | 6.94% |
| CTS | CTS Corporation | 0.36% | $0.16 | 8.09% |
| GVA | Granite Construction Incorporated | 0.36% | $0.43 | 12.45% |
| LCORX | Leuthold Core Investment Fund | 0.36% | $0.08 | 4.98% |
| LCRIX | Leuthold Core Investment Fund Class Institutional | 0.36% | $0.08 | 4.98% |
| UHAL | U-Haul Holding Company | 0.36% | $0.18 | 17.87% |
| BOX | Box, Inc. | 0.35% | $0.10 | 6.61% |
| HCC | Warrior Met Coal, Inc. | 0.35% | $0.31 | 47.04% |
| MCK | McKesson Corporation | 0.35% | $2.91 | 8.98% |
| CSWI | CSW Industrials, Inc. | 0.34% | $1.02 | 11.93% |
| MOG-A | Moog Inc. | 0.34% | $0.85 | 11.59% |
| SRBK | SR Bancorp, Inc. Common stock | 0.34% | $0.05 | 9.61% |
| VHAQ-UN | Viveon Health Acquisition Corp. | 0.34% | $0.04 | 17.38% |
| WWD | Woodward, Inc. | 0.34% | $1.05 | 14.70% |
| AGX | Argan, Inc. | 0.33% | $1.08 | 12.72% |
| PJT | PJT Partners Inc. | 0.33% | $0.56 | 13.70% |
| REGN | Regeneron Pharmaceuticals, Inc. | 0.33% | $2.59 | 6.06% |
| LPLA | LPL Financial Holdings Inc. | 0.32% | $1.16 | 11.15% |
| META | Meta Platforms, Inc. | 0.31% | $2.04 | 8.98% |
| ESAB | ESAB Corporation | 0.30% | $0.34 | 8.52% |
| POWL | Powell Industries, Inc. | 0.30% | $1.05 | 7.31% |
| VC | Visteon Corporation | 0.30% | $0.29 | 2.59% |
| WST | West Pharmaceutical Services, Inc. | 0.30% | $0.83 | 12.34% |
| CASH | Pathward Financial, Inc. | 0.29% | $0.21 | 2.52% |
| NGS | Natural Gas Services Group, Inc. | 0.29% | $0.10 | 6.71% |
| PLUS | ePlus inc. | 0.29% | $0.25 | 5.41% |
| RVTY | Revvity, Inc. | 0.29% | $0.28 | 14.01% |
| TMO | Thermo Fisher Scientific Inc. | 0.28% | $1.65 | 9.48% |
| MRVL | Marvell Technology, Inc. | 0.27% | $0.24 | 8.33% |
| VNT | Vontier Corporation | 0.27% | $0.10 | 3.64% |
| DBRG | DigitalBridge Group, Inc. | 0.26% | $0.04 | 9.84% |
| FOUR | Shift4 Payments, Inc. | 0.26% | $0.16 | 7.44% |
| GOOG | Alphabet Inc. | 0.26% | $0.82 | 8.01% |
| TPB | Turning Point Brands, Inc. | 0.26% | $0.29 | 10.22% |
| USB-PA | U.S. Bancorp PERP PFD SER A | 0.26% | $2.02 | 43.68% |