Definitive Analysis
| Stable Growth | $165.88 - $315.69 | $295.85 |
| Multi-Stage | $49.51 - $54.19 | $51.81 |
| Blended Fair Value | $173.83 | |
| Current Price | $5.05 | |
| Upside | 3,342.13% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 1.44% | -7.53% | 0.11 | 0.40 | 0.18 | 0.13 | 0.29 | 0.10 | 0.14 | 0.06 | 0.00 | 0.00 |
| YoY Growth | - | - | -72.75% | 129.10% | 34.36% | -54.35% | 180.48% | -25.06% | 140.18% | 0.00% | 0.00% | -100.00% |
| Dividend Yield | - | - | 2.43% | 11.94% | 3.34% | 3.15% | 5.29% | 3.26% | 4.53% | 1.20% | 0.00% | 0.00% |
| Net Income To Common (M) | 7,170.53 |
| (-) Cash Dividends Paid (M) | 3,053.34 |
| (=) Cash Retained (M) | 4,117.19 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 1,434.11 | 896.32 | 537.79 |
| Cash Retained (M) | 4,117.19 | 4,117.19 | 4,117.19 |
| (-) Cash Required (M) | -1,434.11 | -896.32 | -537.79 |
| (=) Excess Retained (M) | 2,683.08 | 3,220.87 | 3,579.40 |
| (/) Shares Outstanding (M) | 4,517.24 | 4,517.24 | 4,517.24 |
| (=) Excess Retained per Share | 0.59 | 0.71 | 0.79 |
| LTM Dividend per Share | 0.68 | 0.68 | 0.68 |
| (+) Excess Retained per Share | 0.59 | 0.71 | 0.79 |
| (=) Adjusted Dividend | 1.27 | 1.39 | 1.47 |
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $165.88 | $295.85 | $315.69 |
| Upside / Downside | 3,184.77% | 5,758.33% | 6,151.24% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 7,170.53 | 7,636.61 | 8,132.99 | 8,661.63 | 9,224.64 | 9,824.24 | 10,118.97 |
| Payout Ratio | 42.58% | 52.07% | 61.55% | 71.03% | 80.52% | 90.00% | 92.50% |
| Projected Dividends (M) | 3,053.34 | 3,976.03 | 5,005.78 | 6,152.59 | 7,427.34 | 8,841.82 | 9,360.05 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.31% | 6.31% | 6.31% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 3,705.00 | 3,740.12 | 3,775.24 |
| Year 2 PV (M) | 4,346.59 | 4,429.38 | 4,512.95 |
| Year 3 PV (M) | 4,978.21 | 5,121.12 | 5,266.73 |
| Year 4 PV (M) | 5,599.99 | 5,815.34 | 6,036.86 |
| Year 5 PV (M) | 6,212.03 | 6,512.07 | 6,823.60 |
| PV of Terminal Value (M) | 198,815.43 | 208,418.29 | 218,388.67 |
| Equity Value (M) | 223,657.23 | 234,036.31 | 244,804.04 |
| Shares Outstanding (M) | 4,517.24 | 4,517.24 | 4,517.24 |
| Fair Value | $49.51 | $51.81 | $54.19 |
| Upside / Downside | 880.43% | 925.93% | 973.13% |
| 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% |