Definitive Analysis
| Stable Growth | $10,644.20 - $24,212.42 | $22,690.58 |
| Multi-Stage | $3,712.72 - $4,057.78 | $3,882.10 |
| Blended Fair Value | $13,286.34 | |
| Current Price | $1,210.00 | |
| Upside | 998.04% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 22.26% | 22.77% | 99.88 | 124.85 | 41.95 | 26.97 | 19.99 | 36.57 | 44.70 | 30.36 | 18.17 | 25.92 |
| YoY Growth | - | - | -20.00% | 197.62% | 55.56% | 34.90% | -45.33% | -18.18% | 47.20% | 67.08% | -29.88% | 101.86% |
| Dividend Yield | - | - | 9.12% | 7.30% | 2.71% | 2.96% | 3.10% | 9.26% | 4.70% | 2.68% | 1.45% | 1.86% |
| Net Income To Common (M) | 2,405,838.14 |
| (-) Cash Dividends Paid (M) | 1,977,629.46 |
| (=) Cash Retained (M) | 428,208.68 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 481,167.63 | 300,729.77 | 180,437.86 |
| Cash Retained (M) | 428,208.68 | 428,208.68 | 428,208.68 |
| (-) Cash Required (M) | -481,167.63 | -300,729.77 | -180,437.86 |
| (=) Excess Retained (M) | -52,958.95 | 127,478.91 | 247,770.82 |
| (/) Shares Outstanding (M) | 19,760.98 | 19,760.98 | 19,760.98 |
| (=) Excess Retained per Share | -2.68 | 6.45 | 12.54 |
| LTM Dividend per Share | 100.08 | 100.08 | 100.08 |
| (+) Excess Retained per Share | -2.68 | 6.45 | 12.54 |
| (=) Adjusted Dividend | 97.40 | 106.53 | 112.62 |
| WACC / Discount Rate | 6.47% | 6.47% | 6.47% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $10,644.20 | $22,690.58 | $24,212.42 |
| Upside / Downside | 779.69% | 1,775.25% | 1,901.03% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,405,838.14 | 2,562,217.61 | 2,728,761.76 | 2,906,131.27 | 3,095,029.81 | 3,296,206.74 | 3,395,092.95 |
| Payout Ratio | 82.20% | 83.76% | 85.32% | 86.88% | 88.44% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,977,629.46 | 2,146,139.47 | 2,328,200.30 | 2,524,861.59 | 2,737,252.21 | 2,966,586.07 | 3,140,460.98 |
| 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) | 1,996,882.37 | 2,015,810.17 | 2,034,737.96 |
| Year 2 PV (M) | 2,015,623.54 | 2,054,015.51 | 2,092,769.67 |
| Year 3 PV (M) | 2,033,860.68 | 2,092,245.51 | 2,151,737.13 |
| Year 4 PV (M) | 2,051,601.37 | 2,130,500.17 | 2,211,653.05 |
| Year 5 PV (M) | 2,068,853.12 | 2,168,779.50 | 2,272,530.30 |
| PV of Terminal Value (M) | 63,200,169.78 | 66,252,761.61 | 69,422,183.32 |
| Equity Value (M) | 73,366,990.86 | 76,714,112.46 | 80,185,611.42 |
| Shares Outstanding (M) | 19,760.98 | 19,760.98 | 19,760.98 |
| Fair Value | $3,712.72 | $3,882.10 | $4,057.78 |
| Upside / Downside | 206.84% | 220.83% | 235.35% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| BTBT | Bit Digital, Inc. | 0.25% | $0.01 | 1.17% |
| PVH | PVH Corp. | 0.25% | $0.17 | 2.41% |
| AEL | American Equity Investment Life Holding Company | 0.24% | $0.14 | 2.19% |
| CRS | Carpenter Technology Corporation | 0.24% | $0.80 | 9.74% |
| L | Loews Corporation | 0.24% | $0.25 | 3.58% |
| PRIM | Primoris Services Corporation | 0.23% | $0.30 | 5.83% |
| TER | Teradyne, Inc. | 0.23% | $0.48 | 17.39% |
| FOCS | Focus Financial Partners Inc. | 0.22% | $0.12 | 19.23% |
| QCRH | QCR Holdings, Inc. | 0.22% | $0.18 | 2.50% |
| RMAX | RE/MAX Holdings, Inc. | 0.22% | $0.02 | 2.70% |
| VSEC | VSE Corporation | 0.22% | $0.40 | 30.98% |
| 0J5I.L | Hilton Worldwide Holdings Inc. | 0.21% | $0.60 | 8.71% |
| PRVAX | Virginia Tax Free Bond Fund | 0.21% | $0.02 | 89.04% |
| ACA | Arcosa, Inc. | 0.19% | $0.20 | 6.66% |
| HWM | Howmet Aerospace Inc. | 0.19% | $0.40 | 11.24% |
| USLM | United States Lime & Minerals, Inc. | 0.19% | $0.23 | 5.04% |
| AEIS | Advanced Energy Industries, Inc. | 0.18% | $0.40 | 10.65% |
| BELFA | Bel Fuse Inc. | 0.18% | $0.28 | 5.31% |
| TILE | Interface, Inc. | 0.18% | $0.05 | 2.63% |
| 0K05.L | Medifast, Inc. | 0.17% | $0.02 | 78.63% |
| AYI | Acuity Brands, Inc. | 0.17% | $0.65 | 5.19% |
| BDC | Belden Inc. | 0.17% | $0.20 | 3.53% |
| FIX | Comfort Systems USA, Inc. | 0.17% | $1.70 | 7.18% |
| KNSL | Kinsale Capital Group, Inc. | 0.17% | $0.66 | 3.24% |
| STCN | Steel Connect, Inc. | 0.17% | $0.02 | 1.98% |
| VVI | Viad Corp | 0.17% | $0.07 | 0.54% |
| ALNT | Allient Inc. | 0.16% | $0.09 | 7.91% |
| CLSK | CleanSpark, Inc. | 0.16% | $0.02 | 1.41% |
| EME | EMCOR Group, Inc. | 0.16% | $1.01 | 4.01% |
| ESE | ESCO Technologies Inc. | 0.16% | $0.32 | 2.76% |
| CW | Curtiss-Wright Corporation | 0.15% | $0.87 | 7.08% |
| MU | Micron Technology, Inc. | 0.15% | $0.46 | 6.11% |
| SPCMU | Sound Point Acquisition Corp I, Ltd | 0.15% | $0.02 | 1.33% |
| ENSG | The Ensign Group, Inc. | 0.14% | $0.24 | 4.34% |
| JBL | Jabil Inc. | 0.14% | $0.33 | 5.48% |
| PFIE | Profire Energy, Inc. | 0.14% | $0.00 | 1.99% |
| 0R0A.L | Hecla Mining Company | 0.13% | $0.02 | 5.24% |
| GNW | Genworth Financial, Inc. | 0.13% | $0.01 | 2.27% |
| ONIT | Onity Group Inc. | 0.13% | $0.06 | 1.46% |
| 0A7O.L | MicroStrategy Incorporated | 0.12% | $0.19 | 0.73% |
| 0KGS.L | Pegasystems Inc. | 0.12% | $0.07 | 4.63% |
| PRTAX | T. Rowe Price Tax-Free Income Fd | 0.12% | $0.01 | 89.04% |
| WDC | Western Digital Corporation | 0.12% | $0.22 | 3.25% |
| GEV | GE Vernova Inc. | 0.11% | $0.75 | 12.15% |
| MPLF.L | Marble Point Loan Financing Limited | 0.11% | $0.07 | 92.98% |
| EPAC | Enerpac Tool Group Corp. | 0.10% | $0.04 | 2.34% |
| GRBK | Green Brick Partners, Inc. | 0.10% | $0.07 | 0.85% |
| IR | Ingersoll Rand Inc. | 0.10% | $0.08 | 5.89% |
| RAL | Ralliant Corp. | 0.10% | $0.05 | 2.75% |
| TXT | Textron Inc. | 0.10% | $0.08 | 1.79% |