Definitive Analysis
| Stable Growth | $74,837.57 - $279,358.43 | $224,122.81 |
| Multi-Stage | $40,045.80 - $43,839.76 | $41,907.80 |
| Blended Fair Value | $133,015.30 | |
| Current Price | $10,280.00 | |
| Upside | 1,193.92% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 8.00% | 5.51% | 449.96 | 399.97 | 404.05 | 404.05 | 305.20 | 306.30 | 359.45 | 259.94 | 295.92 | 264.22 |
| YoY Growth | - | - | 12.50% | -1.01% | 0.00% | 32.39% | -0.36% | -14.79% | 38.28% | -12.16% | 12.00% | 0.40% |
| Dividend Yield | - | - | 4.98% | 4.91% | 4.45% | 4.23% | 2.38% | 4.63% | 2.90% | 2.65% | 3.30% | 2.46% |
| Net Income To Common (M) | 30,537.81 |
| (-) Cash Dividends Paid (M) | 12,976.57 |
| (=) Cash Retained (M) | 17,561.24 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 6,107.56 | 3,817.23 | 2,290.34 |
| Cash Retained (M) | 17,561.24 | 17,561.24 | 17,561.24 |
| (-) Cash Required (M) | -6,107.56 | -3,817.23 | -2,290.34 |
| (=) Excess Retained (M) | 11,453.68 | 13,744.01 | 15,270.90 |
| (/) Shares Outstanding (M) | 21.63 | 21.63 | 21.63 |
| (=) Excess Retained per Share | 529.54 | 635.43 | 706.02 |
| LTM Dividend per Share | 599.95 | 599.95 | 599.95 |
| (+) Excess Retained per Share | 529.54 | 635.43 | 706.02 |
| (=) Adjusted Dividend | 1,129.49 | 1,235.38 | 1,305.97 |
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 4.95% | 5.95% | 6.95% |
| Fair Value | $74,837.57 | $224,122.81 | $279,358.43 |
| Upside / Downside | 627.99% | 2,080.18% | 2,617.49% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 30,537.81 | 32,356.15 | 34,282.76 | 36,324.09 | 38,486.97 | 40,778.64 | 42,001.99 |
| Payout Ratio | 42.49% | 51.99% | 61.50% | 71.00% | 80.50% | 90.00% | 92.50% |
| Projected Dividends (M) | 12,976.57 | 16,823.51 | 21,082.56 | 25,789.16 | 30,981.51 | 36,700.77 | 38,851.84 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.54% | 6.54% | 6.54% |
| Growth Rate | 4.95% | 5.95% | 6.95% |
| Year 1 PV (M) | 15,641.99 | 15,791.02 | 15,940.06 |
| Year 2 PV (M) | 18,225.27 | 18,574.23 | 18,926.49 |
| Year 3 PV (M) | 20,728.29 | 21,326.44 | 21,936.00 |
| Year 4 PV (M) | 23,152.84 | 24,047.93 | 24,968.72 |
| Year 5 PV (M) | 25,500.71 | 26,738.93 | 28,024.79 |
| PV of Terminal Value (M) | 762,921.53 | 799,966.14 | 838,435.97 |
| Equity Value (M) | 866,170.62 | 906,444.69 | 948,232.02 |
| Shares Outstanding (M) | 21.63 | 21.63 | 21.63 |
| Fair Value | $40,045.80 | $41,907.80 | $43,839.76 |
| Upside / Downside | 289.55% | 307.66% | 326.46% |
| 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% |