Definitive Analysis
| Stable Growth | $84.68 - $202.33 | $189.62 |
| Multi-Stage | $30.69 - $33.53 | $32.09 |
| Blended Fair Value | $110.85 | |
| Current Price | $10.89 | |
| Upside | 917.92% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 63.43% | 73.83% | 0.84 | 0.15 | 1.50 | 0.29 | 0.10 | 0.07 | 0.05 | 0.25 | 0.00 | 0.06 |
| YoY Growth | - | - | 462.95% | -90.06% | 423.48% | 200.00% | 32.68% | 45.32% | -80.48% | 6,472.66% | -93.56% | 1,699.48% |
| Dividend Yield | - | - | 8.76% | 1.65% | 12.97% | 2.35% | 0.84% | 0.64% | 0.00% | 0.00% | 0.00% | 0.53% |
| Net Income To Common (M) | 2,137.09 |
| (-) Cash Dividends Paid (M) | 1,864.24 |
| (=) Cash Retained (M) | 272.86 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 427.42 | 267.14 | 160.28 |
| Cash Retained (M) | 272.86 | 272.86 | 272.86 |
| (-) Cash Required (M) | -427.42 | -267.14 | -160.28 |
| (=) Excess Retained (M) | -154.56 | 5.72 | 112.57 |
| (/) Shares Outstanding (M) | 2,100.57 | 2,100.57 | 2,100.57 |
| (=) Excess Retained per Share | -0.07 | 0.00 | 0.05 |
| LTM Dividend per Share | 0.89 | 0.89 | 0.89 |
| (+) Excess Retained per Share | -0.07 | 0.00 | 0.05 |
| (=) Adjusted Dividend | 0.81 | 0.89 | 0.94 |
| WACC / Discount Rate | 6.51% | 6.51% | 6.51% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $84.68 | $189.62 | $202.33 |
| Upside / Downside | 677.62% | 1,641.19% | 1,757.97% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 2,137.09 | 2,276.00 | 2,423.94 | 2,581.50 | 2,749.30 | 2,928.00 | 3,015.84 |
| Payout Ratio | 87.23% | 87.79% | 88.34% | 88.89% | 89.45% | 90.00% | 92.50% |
| Projected Dividends (M) | 1,864.24 | 1,998.01 | 2,141.30 | 2,294.77 | 2,459.15 | 2,635.20 | 2,789.65 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.51% | 6.51% | 6.51% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 1,858.21 | 1,875.82 | 1,893.43 |
| Year 2 PV (M) | 1,852.12 | 1,887.40 | 1,923.01 |
| Year 3 PV (M) | 1,845.98 | 1,898.98 | 1,952.97 |
| Year 4 PV (M) | 1,839.80 | 1,910.55 | 1,983.32 |
| Year 5 PV (M) | 1,833.56 | 1,922.12 | 2,014.07 |
| PV of Terminal Value (M) | 55,237.10 | 57,905.07 | 60,675.15 |
| Equity Value (M) | 64,466.77 | 67,399.94 | 70,441.96 |
| Shares Outstanding (M) | 2,100.57 | 2,100.57 | 2,100.57 |
| Fair Value | $30.69 | $32.09 | $33.53 |
| Upside / Downside | 181.82% | 194.64% | 207.94% |
| 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% |