DDM Analysis: KNOP

Valuation Snapshot

Stable Growth	$7.99 - $11.93	$9.86
Multi-Stage	$19.13 - $21.09	$20.09
Blended Fair Value	$14.98
Current Price	$6.26
Upside	139.23%
Decision	Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPS	-33.39%	-11.83%	0.30	0.30	2.31	2.31	2.31	2.31	2.31	2.01	1.75	1.55
YoY Growth	-	-	0.00%	-86.90%	0.11%	0.06%	0.00%	0.00%	15.03%	14.64%	12.72%	45.67%
Dividend Yield	-	-	4.33%	5.93%	43.11%	13.65%	12.95%	22.61%	12.01%	10.13%	7.51%	9.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	33.87
(-) Cash Dividends Paid (M)	10.56
(=) Cash Retained (M)	23.31

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	6.77	4.23	2.54
Cash Retained (M)	23.31	23.31	23.31
(-) Cash Required (M)	-6.77	-4.23	-2.54
(=) Excess Retained (M)	16.53	19.07	20.77
(/) Shares Outstanding (M)	34.39	34.39	34.39
(=) Excess Retained per Share	0.48	0.55	0.60
LTM Dividend per Share	0.31	0.31	0.31
(+) Excess Retained per Share	0.48	0.55	0.60
(=) Adjusted Dividend	0.79	0.86	0.91
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	-3.05%	-2.05%	-1.05%
Fair Value	$7.99	$9.86	$11.93
Upside / Downside	27.68%	57.59%	90.57%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	33.87	33.18	32.50	31.83	31.18	30.54	31.46
Payout Ratio	31.19%	42.95%	54.71%	66.48%	78.24%	90.00%	92.50%
Projected Dividends (M)	10.56	14.25	17.78	21.16	24.39	27.49	29.10

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	6.51%	6.51%	6.51%
Growth Rate	-3.05%	-2.05%	-1.05%
Year 1 PV (M)	13.24	13.38	13.52
Year 2 PV (M)	15.36	15.67	16.00
Year 3 PV (M)	16.98	17.51	18.06
Year 4 PV (M)	18.19	18.96	19.74
Year 5 PV (M)	19.05	20.05	21.10
PV of Terminal Value (M)	575.01	605.28	636.81
Equity Value (M)	657.83	690.85	725.22
Shares Outstanding (M)	34.39	34.39	34.39
Fair Value	$19.13	$20.09	$21.09
Upside / Downside	205.53%	220.87%	236.83%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 29 of 30 Next »

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%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Ticker

Industry

Sector

KNOT Offshore Partners LP (KNOP)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener