Definitive Analysis
| Stable Growth | $76,736.52 - $187,763.49 | $175,961.89 |
| Multi-Stage | $27,168.63 - $29,746.27 | $28,433.73 |
| Blended Fair Value | $102,197.81 | |
| Current Price | $3,965.00 | |
| Upside | 2,477.50% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 38.74% | -0.97% | 154.24 | 84.22 | 84.22 | 0.00 | 30.01 | 30.01 | 100.03 | 150.04 | 120.03 | 200.05 |
| YoY Growth | - | - | 83.14% | 0.00% | 0.00% | -100.00% | 0.00% | -70.00% | -33.33% | 25.00% | -40.00% | 17.65% |
| Dividend Yield | - | - | 4.11% | 1.90% | 1.67% | 0.00% | 0.41% | 0.95% | 1.22% | 1.53% | 2.26% | 4.10% |
| Net Income To Common (M) | 18,001.93 |
| (-) Cash Dividends Paid (M) | 4,887.26 |
| (=) Cash Retained (M) | 13,114.67 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 3,600.39 | 2,250.24 | 1,350.14 |
| Cash Retained (M) | 13,114.67 | 13,114.67 | 13,114.67 |
| (-) Cash Required (M) | -3,600.39 | -2,250.24 | -1,350.14 |
| (=) Excess Retained (M) | 9,514.29 | 10,864.43 | 11,764.53 |
| (/) Shares Outstanding (M) | 19.07 | 19.07 | 19.07 |
| (=) Excess Retained per Share | 498.99 | 569.80 | 617.00 |
| LTM Dividend per Share | 256.32 | 256.32 | 256.32 |
| (+) Excess Retained per Share | 498.99 | 569.80 | 617.00 |
| (=) Adjusted Dividend | 755.30 | 826.11 | 873.32 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $76,736.52 | $175,961.89 | $187,763.49 |
| Upside / Downside | 1,835.35% | 4,337.88% | 4,635.52% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 18,001.93 | 19,172.05 | 20,418.24 | 21,745.42 | 23,158.87 | 24,664.20 | 25,404.13 |
| Payout Ratio | 27.15% | 39.72% | 52.29% | 64.86% | 77.43% | 90.00% | 92.50% |
| Projected Dividends (M) | 4,887.26 | 7,614.91 | 10,676.51 | 14,103.95 | 17,931.85 | 22,197.78 | 23,498.82 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 7,080.46 | 7,147.57 | 7,214.69 |
| Year 2 PV (M) | 9,230.45 | 9,406.26 | 9,583.73 |
| Year 3 PV (M) | 11,337.85 | 11,663.32 | 11,994.96 |
| Year 4 PV (M) | 13,403.29 | 13,918.75 | 14,448.92 |
| Year 5 PV (M) | 15,427.40 | 16,172.55 | 16,946.21 |
| PV of Terminal Value (M) | 461,551.57 | 483,844.69 | 506,991.01 |
| Equity Value (M) | 518,031.02 | 542,153.13 | 567,179.53 |
| Shares Outstanding (M) | 19.07 | 19.07 | 19.07 |
| Fair Value | $27,168.63 | $28,433.73 | $29,746.27 |
| Upside / Downside | 585.21% | 617.12% | 650.22% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| LZOEX | Lazard Emerging Markets Equity Portfolio | 0.09% | $0.02 | 36.87% |
| PWR | Quanta Services, Inc. | 0.09% | $0.39 | 5.78% |
| AAMI | Acadian Asset Management | 0.08% | $0.04 | 1.59% |
| PDLB | Ponce Financial Group, Inc. | 0.08% | $0.01 | 1.31% |
| VRT | Vertiv Holdings Co | 0.08% | $0.15 | 5.48% |
| 0J46.L | HEICO Corporation | 0.07% | $0.23 | 4.98% |
| 0JYM.L | Markel Corporation | 0.07% | $1.41 | 0.87% |
| CHCI | Comstock Holding Companies, Inc. | 0.06% | $0.01 | 0.56% |
| MTVC | Motive Capital Corp II | 0.06% | $0.01 | 2.21% |
| ENJ | Entergy New Orleans, LLC First Mortgage Bonds, 5.0% Series due December 1, 2052 | 0.05% | $0.01 | 0.31% |
| ENO | Entergy New Orleans, LLC First Mortgage Bonds, 5.50% Series due April 1, 2066 | 0.05% | $0.01 | 0.31% |
| AJRD | Aerojet Rocketdyne Holdings, Inc. | 0.04% | $0.02 | 2.70% |
| ERES | East Resources Acquisition Company | 0.04% | $0.00 | 1.55% |
| NBN | Northeast Bank | 0.04% | $0.04 | 0.38% |
| ARHS | Arhaus, Inc. | 0.03% | $0.00 | 0.61% |
| BSIG | BrightSphere Investment Group Inc. | 0.03% | $0.01 | 0.34% |
| EWCZ | European Wax Center, Inc. | 0.03% | $0.00 | 0.37% |
| WIRE | Encore Wire Corporation | 0.03% | $0.08 | 0.42% |
| ACFN | Acorn Energy, Inc. | 0.02% | $0.00 | 0.09% |
| ACMR | ACM Research, Inc. | 0.02% | $0.01 | 0.62% |
| CFB | CrossFirst Bankshares, Inc. | 0.02% | $0.00 | 0.21% |
| FDSB | Fifth District Savings Bank | 0.02% | $0.00 | 0.35% |
| GRDN | Guardian Pharmacy Services, Inc. | 0.02% | $0.00 | 0.75% |
| NVDA | NVIDIA Corporation | 0.02% | $0.04 | 0.98% |
| AMG | Affiliated Managers Group, Inc. | 0.01% | $0.04 | 0.23% |
| BSX-PA | Boston Scientific Corporation | 0.01% | $0.02 | 0.82% |
| FIGR | Figure Technology Solutions, Inc. Class A Common Stock | 0.01% | $0.00 | 2.22% |
| GNRC | Generac Holdings Inc. | 0.01% | $0.01 | 0.18% |
| LAUR | Laureate Education, Inc. | 0.01% | $0.00 | 0.22% |
| PLNT | Planet Fitness, Inc. | 0.01% | $0.01 | 0.57% |
| SUM | Summit Materials, Inc. | 0.01% | $0.00 | 0.32% |
| BE | Bloom Energy Corporation | 0.00% | $0.00 | 6.20% |
| BJRI | BJ's Restaurants, Inc. | 0.00% | $0.00 | 0.01% |
| CXW | CoreCivic, Inc. | 0.00% | $0.00 | 0.04% |
| INFA | Informatica Inc. | 0.00% | $0.00 | 0.10% |
| MMMB | MamaMancini's Holdings, Inc. | 0.00% | $0.00 | 0.04% |
| PMO | Putnam Municipal Opportunities Trust | 0.00% | $0.00 | 0.05% |
| SENEA | Seneca Foods Corporation | 0.00% | $0.00 | 0.04% |
| SLCA | U.S. Silica Holdings, Inc. | 0.00% | $0.00 | 0.02% |
| UNIT | Uniti Group Inc. | 0.00% | $0.00 | 0.00% |