Definitive Analysis
| Stable Growth | $65,831.38 - $179,088.60 | $167,832.25 |
| Multi-Stage | $25,496.72 - $27,887.47 | $26,670.21 |
| Blended Fair Value | $97,251.23 | |
| Current Price | $5,460.00 | |
| Upside | 1,681.16% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 31.24% | 12.91% | 272.61 | 241.39 | 246.40 | 100.03 | 146.27 | 70.02 | 51.30 | 60.19 | 111.81 | 109.04 |
| YoY Growth | - | - | 12.93% | -2.03% | 146.32% | -31.61% | 108.89% | 36.49% | -14.77% | -46.17% | 2.54% | 34.66% |
| Dividend Yield | - | - | 7.69% | 5.47% | 5.42% | 1.99% | 2.91% | 2.53% | 1.41% | 1.19% | 2.31% | 1.06% |
| Net Income To Common (M) | 41,397.95 |
| (-) Cash Dividends Paid (M) | 21,774.36 |
| (=) Cash Retained (M) | 19,623.59 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 8,279.59 | 5,174.74 | 3,104.85 |
| Cash Retained (M) | 19,623.59 | 19,623.59 | 19,623.59 |
| (-) Cash Required (M) | -8,279.59 | -5,174.74 | -3,104.85 |
| (=) Excess Retained (M) | 11,344.00 | 14,448.84 | 16,518.74 |
| (/) Shares Outstanding (M) | 45.97 | 45.97 | 45.97 |
| (=) Excess Retained per Share | 246.76 | 314.30 | 359.32 |
| LTM Dividend per Share | 473.65 | 473.65 | 473.65 |
| (+) Excess Retained per Share | 246.76 | 314.30 | 359.32 |
| (=) Adjusted Dividend | 720.41 | 787.94 | 832.97 |
| WACC / Discount Rate | 6.65% | 6.65% | 6.65% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $65,831.38 | $167,832.25 | $179,088.60 |
| Upside / Downside | 1,105.70% | 2,973.85% | 3,180.01% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 41,397.95 | 44,088.81 | 46,954.59 | 50,006.63 | 53,257.06 | 56,718.77 | 58,420.34 |
| Payout Ratio | 52.60% | 60.08% | 67.56% | 75.04% | 82.52% | 90.00% | 92.50% |
| Projected Dividends (M) | 21,774.36 | 26,487.74 | 31,721.86 | 37,524.51 | 43,947.48 | 51,046.90 | 54,038.81 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.65% | 6.65% | 6.65% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 24,601.89 | 24,835.09 | 25,068.28 |
| Year 2 PV (M) | 27,365.66 | 27,886.90 | 28,413.06 |
| Year 3 PV (M) | 30,066.71 | 30,929.82 | 31,809.29 |
| Year 4 PV (M) | 32,706.08 | 33,963.87 | 35,257.58 |
| Year 5 PV (M) | 35,284.79 | 36,989.06 | 38,758.55 |
| PV of Terminal Value (M) | 1,022,103.65 | 1,071,471.64 | 1,122,729.05 |
| Equity Value (M) | 1,172,128.79 | 1,226,076.37 | 1,282,035.82 |
| Shares Outstanding (M) | 45.97 | 45.97 | 45.97 |
| Fair Value | $25,496.72 | $26,670.21 | $27,887.47 |
| Upside / Downside | 366.97% | 388.47% | 410.76% |
| 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% |