Definitive Analysis
| Stable Growth | $106,804.77 - $177,047.89 | $165,919.80 |
| Multi-Stage | $28,618.78 - $31,332.99 | $29,950.91 |
| Blended Fair Value | $97,935.36 | |
| Current Price | $7,182.00 | |
| Upside | 1,263.62% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 27.76% | 34.33% | 847.54 | 729.80 | 1,097.38 | 557.99 | 300.02 | 248.99 | 105.00 | 114.00 | 216.02 | 140.00 |
| YoY Growth | - | - | 16.13% | -33.50% | 96.67% | 85.99% | 20.49% | 137.12% | -7.89% | -47.23% | 54.30% | 216.02% |
| Dividend Yield | - | - | 13.26% | 10.82% | 14.62% | 6.94% | 7.41% | 10.04% | 4.39% | 4.92% | 9.13% | 5.00% |
| Net Income To Common (M) | 115,287.00 |
| (-) Cash Dividends Paid (M) | 43,404.00 |
| (=) Cash Retained (M) | 71,883.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 23,057.40 | 14,410.88 | 8,646.53 |
| Cash Retained (M) | 71,883.00 | 71,883.00 | 71,883.00 |
| (-) Cash Required (M) | -23,057.40 | -14,410.88 | -8,646.53 |
| (=) Excess Retained (M) | 48,825.60 | 57,472.13 | 63,236.48 |
| (/) Shares Outstanding (M) | 129.50 | 129.50 | 129.50 |
| (=) Excess Retained per Share | 377.03 | 443.80 | 488.31 |
| LTM Dividend per Share | 335.17 | 335.17 | 335.17 |
| (+) Excess Retained per Share | 377.03 | 443.80 | 488.31 |
| (=) Adjusted Dividend | 712.20 | 778.97 | 823.48 |
| WACC / Discount Rate | 6.20% | 6.20% | 6.20% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $106,804.77 | $165,919.80 | $177,047.89 |
| Upside / Downside | 1,387.12% | 2,210.22% | 2,365.16% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 115,287.00 | 122,780.66 | 130,761.40 | 139,260.89 | 148,312.85 | 157,953.18 | 162,691.78 |
| Payout Ratio | 37.65% | 48.12% | 58.59% | 69.06% | 79.53% | 90.00% | 92.50% |
| Projected Dividends (M) | 43,404.00 | 59,080.73 | 76,612.04 | 96,172.82 | 117,952.81 | 142,157.86 | 150,489.89 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.20% | 6.20% | 6.20% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 55,107.39 | 55,629.74 | 56,152.08 |
| Year 2 PV (M) | 66,653.83 | 67,923.40 | 69,204.95 |
| Year 3 PV (M) | 78,044.88 | 80,285.27 | 82,568.13 |
| Year 4 PV (M) | 89,282.10 | 92,715.64 | 96,247.27 |
| Year 5 PV (M) | 100,367.03 | 105,214.79 | 110,248.09 |
| PV of Terminal Value (M) | 3,316,676.84 | 3,476,873.58 | 3,643,201.41 |
| Equity Value (M) | 3,706,132.08 | 3,878,642.42 | 4,057,621.94 |
| Shares Outstanding (M) | 129.50 | 129.50 | 129.50 |
| Fair Value | $28,618.78 | $29,950.91 | $31,332.99 |
| Upside / Downside | 298.48% | 317.03% | 336.27% |
| 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% |