Definitive Analysis
| Stable Growth | $232,682.93 - $393,821.38 | $302,970.62 |
| Multi-Stage | $449,832.78 - $493,694.33 | $471,342.85 |
| Blended Fair Value | $387,156.74 | |
| Current Price | $196,900.00 | |
| Upside | 96.63% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 4.63% | 4.34% | 7,811.80 | 7,511.17 | 8,057.52 | 7,582.42 | 7,322.64 | 6,230.23 | 5,848.05 | 5,307.58 | 5,449.53 | 5,089.38 |
| YoY Growth | - | - | 4.00% | -6.78% | 6.27% | 3.55% | 17.53% | 6.54% | 10.18% | -2.60% | 7.08% | -0.37% |
| Dividend Yield | - | - | 3.97% | 4.95% | 4.28% | 3.89% | 3.59% | 4.71% | 2.96% | 3.48% | 4.06% | 3.51% |
| Net Income To Common (M) | 18,747.60 |
| (-) Cash Dividends Paid (M) | 14,954.18 |
| (=) Cash Retained (M) | 3,793.42 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,749.52 | 2,343.45 | 1,406.07 |
| Cash Retained (M) | 3,793.42 | 3,793.42 | 3,793.42 |
| (-) Cash Required (M) | -3,749.52 | -2,343.45 | -1,406.07 |
| (=) Excess Retained (M) | 43.90 | 1,449.97 | 2,387.35 |
| (/) Shares Outstanding (M) | 0.98 | 0.98 | 0.98 |
| (=) Excess Retained per Share | 44.98 | 1,485.69 | 2,446.16 |
| LTM Dividend per Share | 15,322.54 | 15,322.54 | 15,322.54 |
| (+) Excess Retained per Share | 44.98 | 1,485.69 | 2,446.16 |
| (=) Adjusted Dividend | 15,367.53 | 16,808.23 | 17,768.70 |
| WACC / Discount Rate | 6.48% | 6.48% | 6.48% |
| Growth Rate | -0.11% | 0.89% | 1.89% |
| Fair Value | $232,682.93 | $302,970.62 | $393,821.38 |
| Upside / Downside | 18.17% | 53.87% | 100.01% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 18,747.60 | 18,913.70 | 19,081.27 | 19,250.32 | 19,420.87 | 19,592.93 | 20,180.71 |
| Payout Ratio | 79.77% | 81.81% | 83.86% | 85.91% | 87.95% | 90.00% | 92.50% |
| Projected Dividends (M) | 14,954.18 | 15,473.80 | 16,001.45 | 16,537.24 | 17,081.27 | 17,633.63 | 18,667.16 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.48% | 6.48% | 6.48% |
| Growth Rate | -0.11% | 0.89% | 1.89% |
| Year 1 PV (M) | 14,387.68 | 14,531.72 | 14,675.76 |
| Year 2 PV (M) | 13,833.97 | 14,112.36 | 14,393.51 |
| Year 3 PV (M) | 13,293.65 | 13,696.93 | 14,108.28 |
| Year 4 PV (M) | 12,767.19 | 13,286.19 | 13,820.85 |
| Year 5 PV (M) | 12,254.93 | 12,880.78 | 13,531.94 |
| PV of Terminal Value (M) | 372,481.15 | 391,503.56 | 411,295.32 |
| Equity Value (M) | 439,018.57 | 460,011.54 | 481,825.67 |
| Shares Outstanding (M) | 0.98 | 0.98 | 0.98 |
| Fair Value | $449,832.78 | $471,342.85 | $493,694.33 |
| Upside / Downside | 128.46% | 139.38% | 150.73% |
| 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% |