Definitive Analysis
| Stable Growth | $1,088,790.97 - $2,162,256.70 | $2,026,351.19 |
| Multi-Stage | $337,255.37 - $369,026.23 | $352,849.32 |
| Blended Fair Value | $1,189,600.25 | |
| Current Price | $72,800.00 | |
| Upside | 1,534.07% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 38.39% | 9.41% | 2,201.60 | 1,927.00 | 695.94 | 704.36 | 775.62 | 433.68 | 217.17 | 1,011.39 | 1,264.12 | 861.35 |
| YoY Growth | - | - | 14.25% | 176.89% | -1.19% | -9.19% | 78.85% | 99.69% | -78.53% | -19.99% | 46.76% | -3.83% |
| Dividend Yield | - | - | 6.91% | 8.25% | 4.49% | 4.23% | 4.18% | 3.34% | 1.65% | 7.28% | 8.11% | 3.58% |
| Net Income To Common (M) | 158,127.86 |
| (-) Cash Dividends Paid (M) | 80,884.32 |
| (=) Cash Retained (M) | 77,243.55 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 31,625.57 | 19,765.98 | 11,859.59 |
| Cash Retained (M) | 77,243.55 | 77,243.55 | 77,243.55 |
| (-) Cash Required (M) | -31,625.57 | -19,765.98 | -11,859.59 |
| (=) Excess Retained (M) | 45,617.97 | 57,477.56 | 65,383.96 |
| (/) Shares Outstanding (M) | 14.54 | 14.54 | 14.54 |
| (=) Excess Retained per Share | 3,136.57 | 3,952.00 | 4,495.62 |
| LTM Dividend per Share | 5,561.39 | 5,561.39 | 5,561.39 |
| (+) Excess Retained per Share | 3,136.57 | 3,952.00 | 4,495.62 |
| (=) Adjusted Dividend | 8,697.95 | 9,513.39 | 10,057.01 |
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $1,088,790.97 | $2,026,351.19 | $2,162,256.70 |
| Upside / Downside | 1,395.59% | 2,683.45% | 2,870.13% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 158,127.86 | 168,406.17 | 179,352.58 | 191,010.49 | 203,426.17 | 216,648.88 | 223,148.34 |
| Payout Ratio | 51.15% | 58.92% | 66.69% | 74.46% | 82.23% | 90.00% | 92.50% |
| Projected Dividends (M) | 80,884.32 | 99,226.55 | 119,611.54 | 142,227.34 | 167,277.84 | 194,983.99 | 206,412.22 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.34% | 6.34% | 6.34% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 92,432.06 | 93,308.20 | 94,184.33 |
| Year 2 PV (M) | 103,791.69 | 105,768.63 | 107,764.22 |
| Year 3 PV (M) | 114,965.45 | 118,265.70 | 121,628.50 |
| Year 4 PV (M) | 125,955.59 | 130,799.48 | 135,781.76 |
| Year 5 PV (M) | 136,764.30 | 143,370.06 | 150,228.65 |
| PV of Terminal Value (M) | 4,331,104.58 | 4,540,298.55 | 4,757,498.87 |
| Equity Value (M) | 4,905,013.67 | 5,131,810.62 | 5,367,086.34 |
| Shares Outstanding (M) | 14.54 | 14.54 | 14.54 |
| Fair Value | $337,255.37 | $352,849.32 | $369,026.23 |
| Upside / Downside | 363.26% | 384.68% | 406.90% |
| 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% |