Definitive Analysis
| Stable Growth | $307,025.71 - $1,455,305.34 | $674,097.58 |
| Multi-Stage | $167,721.67 - $183,203.80 | $175,322.15 |
| Blended Fair Value | $424,709.86 | |
| Current Price | $62,000.00 | |
| Upside | 585.02% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 4.04% | 0.00% | 3,281.02 | 1,916.28 | 277.13 | 152.36 | 1,497.91 | 2,692.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | 71.22% | 591.46% | 81.89% | -89.83% | -44.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Dividend Yield | - | - | 4.96% | 3.14% | 0.54% | 0.42% | 4.52% | 4.35% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 53,437.71 |
| (-) Cash Dividends Paid (M) | 32,882.49 |
| (=) Cash Retained (M) | 20,555.22 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 10,687.54 | 6,679.71 | 4,007.83 |
| Cash Retained (M) | 20,555.22 | 20,555.22 | 20,555.22 |
| (-) Cash Required (M) | -10,687.54 | -6,679.71 | -4,007.83 |
| (=) Excess Retained (M) | 9,867.68 | 13,875.51 | 16,547.39 |
| (/) Shares Outstanding (M) | 7.30 | 7.30 | 7.30 |
| (=) Excess Retained per Share | 1,351.27 | 1,900.09 | 2,265.98 |
| LTM Dividend per Share | 4,502.88 | 4,502.88 | 4,502.88 |
| (+) Excess Retained per Share | 1,351.27 | 1,900.09 | 2,265.98 |
| (=) Adjusted Dividend | 5,854.15 | 6,402.98 | 6,768.86 |
| WACC / Discount Rate | 7.51% | 7.51% | 7.51% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $307,025.71 | $674,097.58 | $1,455,305.34 |
| Upside / Downside | 395.20% | 987.25% | 2,247.27% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 53,437.71 | 56,911.16 | 60,610.38 | 64,550.06 | 68,745.81 | 73,214.29 | 75,410.72 |
| Payout Ratio | 61.53% | 67.23% | 72.92% | 78.61% | 84.31% | 90.00% | 92.50% |
| Projected Dividends (M) | 32,882.49 | 38,259.89 | 44,197.42 | 50,745.19 | 57,957.43 | 65,892.86 | 69,754.91 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.51% | 7.51% | 7.51% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 35,252.60 | 35,586.75 | 35,920.90 |
| Year 2 PV (M) | 37,522.52 | 38,237.22 | 38,958.66 |
| Year 3 PV (M) | 39,695.15 | 40,834.65 | 41,995.76 |
| Year 4 PV (M) | 41,773.34 | 43,379.82 | 45,032.21 |
| Year 5 PV (M) | 43,759.87 | 45,873.49 | 48,068.00 |
| PV of Terminal Value (M) | 1,026,790.53 | 1,076,384.90 | 1,127,877.36 |
| Equity Value (M) | 1,224,794.01 | 1,280,296.83 | 1,337,852.88 |
| Shares Outstanding (M) | 7.30 | 7.30 | 7.30 |
| Fair Value | $167,721.67 | $175,322.15 | $183,203.80 |
| Upside / Downside | 170.52% | 182.78% | 195.49% |
| 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% |