Definitive Analysis
| Stable Growth | $176,196.50 - $376,088.69 | $250,724.38 |
| Multi-Stage | $231,029.58 - $252,938.73 | $241,779.33 |
| Blended Fair Value | $246,251.86 | |
| Current Price | $92,400.00 | |
| Upside | 166.51% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2025 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 6.43% | 5.23% | 4,506.17 | 4,549.03 | 2,271.17 | 3,332.33 | 3,326.75 | 3,300.22 | 3,272.48 | 3,086.94 | 2,979.65 | 2,813.60 |
| YoY Growth | - | - | -0.94% | 100.29% | -31.84% | 0.17% | 0.80% | 0.85% | 6.01% | 3.60% | 5.90% | 3.95% |
| Dividend Yield | - | - | 4.88% | 4.65% | 2.05% | 3.12% | 4.16% | 3.10% | 3.26% | 3.05% | 2.57% | 2.52% |
| Net Income To Common (M) | 67,564.63 |
| (-) Cash Dividends Paid (M) | 55,847.22 |
| (=) Cash Retained (M) | 11,717.40 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 13,512.93 | 8,445.58 | 5,067.35 |
| Cash Retained (M) | 11,717.40 | 11,717.40 | 11,717.40 |
| (-) Cash Required (M) | -13,512.93 | -8,445.58 | -5,067.35 |
| (=) Excess Retained (M) | -1,795.52 | 3,271.82 | 6,650.06 |
| (/) Shares Outstanding (M) | 7.03 | 7.03 | 7.03 |
| (=) Excess Retained per Share | -255.48 | 465.54 | 946.21 |
| LTM Dividend per Share | 7,946.29 | 7,946.29 | 7,946.29 |
| (+) Excess Retained per Share | -255.48 | 465.54 | 946.21 |
| (=) Adjusted Dividend | 7,690.81 | 8,411.83 | 8,892.50 |
| WACC / Discount Rate | 6.81% | 6.81% | 6.81% |
| Growth Rate | 2.34% | 3.34% | 4.34% |
| Fair Value | $176,196.50 | $250,724.38 | $376,088.69 |
| Upside / Downside | 90.69% | 171.35% | 307.02% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 67,564.63 | 69,822.70 | 72,156.25 | 74,567.78 | 77,059.91 | 79,635.33 | 82,024.39 |
| Payout Ratio | 82.66% | 84.13% | 85.59% | 87.06% | 88.53% | 90.00% | 92.50% |
| Projected Dividends (M) | 55,847.22 | 58,739.04 | 61,761.77 | 64,920.94 | 68,222.29 | 71,671.80 | 75,872.56 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.81% | 6.81% | 6.81% |
| Growth Rate | 2.34% | 3.34% | 4.34% |
| Year 1 PV (M) | 54,462.19 | 54,994.34 | 55,526.50 |
| Year 2 PV (M) | 53,095.32 | 54,137.99 | 55,190.80 |
| Year 3 PV (M) | 51,747.52 | 53,279.28 | 54,840.99 |
| Year 4 PV (M) | 50,419.58 | 52,419.28 | 54,477.88 |
| Year 5 PV (M) | 49,112.21 | 51,558.97 | 54,102.29 |
| PV of Terminal Value (M) | 1,364,859.26 | 1,432,856.38 | 1,503,536.98 |
| Equity Value (M) | 1,623,696.07 | 1,699,246.25 | 1,777,675.45 |
| Shares Outstanding (M) | 7.03 | 7.03 | 7.03 |
| Fair Value | $231,029.58 | $241,779.33 | $252,938.73 |
| Upside / Downside | 150.03% | 161.67% | 173.74% |
| 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% |