Definitive Analysis
| Stable Growth | $129,575.22 - $214,442.23 | $167,159.75 |
| Multi-Stage | $264,099.21 - $289,738.20 | $276,672.76 |
| Blended Fair Value | $221,916.25 | |
| Current Price | $82,100.00 | |
| Upside | 170.30% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | 0.00% | 5,393.91 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 6.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 24,516.63 |
| (-) Cash Dividends Paid (M) | 23,632.53 |
| (=) Cash Retained (M) | 884.10 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 4,903.33 | 3,064.58 | 1,838.75 |
| Cash Retained (M) | 884.10 | 884.10 | 884.10 |
| (-) Cash Required (M) | -4,903.33 | -3,064.58 | -1,838.75 |
| (=) Excess Retained (M) | -4,019.22 | -2,180.48 | -954.64 |
| (/) Shares Outstanding (M) | 2.16 | 2.16 | 2.16 |
| (=) Excess Retained per Share | -1,857.31 | -1,007.61 | -441.15 |
| LTM Dividend per Share | 10,920.75 | 10,920.75 | 10,920.75 |
| (+) Excess Retained per Share | -1,857.31 | -1,007.61 | -441.15 |
| (=) Adjusted Dividend | 9,063.44 | 9,913.14 | 10,479.61 |
| WACC / Discount Rate | 6.48% | 6.48% | 6.48% |
| Growth Rate | -0.48% | 0.52% | 1.52% |
| Fair Value | $129,575.22 | $167,159.75 | $214,442.23 |
| Upside / Downside | 57.83% | 103.61% | 161.20% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 24,516.63 | 24,644.52 | 24,773.08 | 24,902.31 | 25,032.21 | 25,162.78 | 25,917.67 |
| Payout Ratio | 96.39% | 95.12% | 93.84% | 92.56% | 91.28% | 90.00% | 92.50% |
| Projected Dividends (M) | 23,632.53 | 23,440.66 | 23,246.15 | 23,048.96 | 22,849.09 | 22,646.51 | 23,973.84 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.48% | 6.48% | 6.48% |
| Growth Rate | -0.48% | 0.52% | 1.52% |
| Year 1 PV (M) | 21,794.55 | 22,013.54 | 22,232.53 |
| Year 2 PV (M) | 20,095.88 | 20,501.76 | 20,911.69 |
| Year 3 PV (M) | 18,526.16 | 19,090.25 | 19,665.67 |
| Year 4 PV (M) | 17,075.80 | 17,772.53 | 18,490.36 |
| Year 5 PV (M) | 15,735.89 | 16,542.52 | 17,381.88 |
| PV of Terminal Value (M) | 478,282.95 | 502,799.81 | 528,311.91 |
| Equity Value (M) | 571,511.23 | 598,720.40 | 626,994.05 |
| Shares Outstanding (M) | 2.16 | 2.16 | 2.16 |
| Fair Value | $264,099.21 | $276,672.76 | $289,738.20 |
| Upside / Downside | 221.68% | 236.99% | 252.91% |
| 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% |