Definitive Analysis
| Stable Growth | $117.09 - $491.85 | $294.47 |
| Multi-Stage | $57.98 - $63.45 | $60.67 |
| Blended Fair Value | $177.57 | |
| Current Price | $5.69 | |
| Upside | 3,020.77% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 49.03% | 0.00% | 0.32 | 0.25 | 0.15 | 0.00 | 0.00 | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | 31.11% | 69.06% | 0.00% | 0.00% | -100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 5.51% | 3.68% | 3.41% | 0.00% | 0.00% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 493.58 |
| (-) Cash Dividends Paid (M) | 113.98 |
| (=) Cash Retained (M) | 379.60 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 98.72 | 61.70 | 37.02 |
| Cash Retained (M) | 379.60 | 379.60 | 379.60 |
| (-) Cash Required (M) | -98.72 | -61.70 | -37.02 |
| (=) Excess Retained (M) | 280.88 | 317.90 | 342.58 |
| (/) Shares Outstanding (M) | 199.58 | 199.58 | 199.58 |
| (=) Excess Retained per Share | 1.41 | 1.59 | 1.72 |
| LTM Dividend per Share | 0.57 | 0.57 | 0.57 |
| (+) Excess Retained per Share | 1.41 | 1.59 | 1.72 |
| (=) Adjusted Dividend | 1.98 | 2.16 | 2.29 |
| WACC / Discount Rate | 7.28% | 7.28% | 7.28% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $117.09 | $294.47 | $491.85 |
| Upside / Downside | 1,957.87% | 5,075.31% | 8,544.07% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 493.58 | 525.67 | 559.83 | 596.22 | 634.98 | 676.25 | 696.54 |
| Payout Ratio | 23.09% | 36.47% | 49.86% | 63.24% | 76.62% | 90.00% | 92.50% |
| Projected Dividends (M) | 113.98 | 191.73 | 279.11 | 377.04 | 486.51 | 608.63 | 644.30 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.28% | 7.28% | 7.28% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 177.04 | 178.72 | 180.40 |
| Year 2 PV (M) | 237.97 | 242.50 | 247.08 |
| Year 3 PV (M) | 296.83 | 305.35 | 314.03 |
| Year 4 PV (M) | 353.66 | 367.26 | 381.25 |
| Year 5 PV (M) | 408.52 | 428.26 | 448.74 |
| PV of Terminal Value (M) | 10,098.18 | 10,585.93 | 11,092.34 |
| Equity Value (M) | 11,572.20 | 12,108.01 | 12,663.84 |
| Shares Outstanding (M) | 199.58 | 199.58 | 199.58 |
| Fair Value | $57.98 | $60.67 | $63.45 |
| Upside / Downside | 919.05% | 966.23% | 1,015.18% |
| 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% |