Definitive Analysis
| Stable Growth | $212.45 - $814.89 | $608.20 |
| Multi-Stage | $100.40 - $109.85 | $105.04 |
| Blended Fair Value | $356.62 | |
| Current Price | $6.94 | |
| Upside | 5,038.58% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 15.65% | 12.74% | 1.16 | 0.32 | 1.04 | 0.70 | 0.22 | 0.56 | 0.82 | 0.76 | 0.59 | 0.53 |
| YoY Growth | - | - | 260.38% | -69.26% | 49.53% | 219.88% | -60.95% | -31.77% | 7.22% | 29.74% | 11.32% | 51.72% |
| Dividend Yield | - | - | 16.83% | 6.30% | 18.19% | 10.25% | 6.42% | 10.60% | 22.69% | 9.50% | 7.52% | 7.90% |
| Net Income To Common (M) | 184.34 |
| (-) Cash Dividends Paid (M) | 54.02 |
| (=) Cash Retained (M) | 130.32 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 36.87 | 23.04 | 13.83 |
| Cash Retained (M) | 130.32 | 130.32 | 130.32 |
| (-) Cash Required (M) | -36.87 | -23.04 | -13.83 |
| (=) Excess Retained (M) | 93.45 | 107.28 | 116.49 |
| (/) Shares Outstanding (M) | 44.99 | 44.99 | 44.99 |
| (=) Excess Retained per Share | 2.08 | 2.38 | 2.59 |
| LTM Dividend per Share | 1.20 | 1.20 | 1.20 |
| (+) Excess Retained per Share | 2.08 | 2.38 | 2.59 |
| (=) Adjusted Dividend | 3.28 | 3.59 | 3.79 |
| WACC / Discount Rate | 7.13% | 7.13% | 7.13% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $212.45 | $608.20 | $814.89 |
| Upside / Downside | 2,961.23% | 8,663.65% | 11,641.90% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 184.34 | 196.32 | 209.08 | 222.67 | 237.14 | 252.56 | 260.13 |
| Payout Ratio | 29.30% | 41.44% | 53.58% | 65.72% | 77.86% | 90.00% | 92.50% |
| Projected Dividends (M) | 54.02 | 81.36 | 112.03 | 146.34 | 184.64 | 227.30 | 240.62 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 7.13% | 7.13% | 7.13% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 75.23 | 75.95 | 76.66 |
| Year 2 PV (M) | 95.79 | 97.62 | 99.46 |
| Year 3 PV (M) | 115.71 | 119.03 | 122.42 |
| Year 4 PV (M) | 135.00 | 140.19 | 145.53 |
| Year 5 PV (M) | 153.68 | 161.10 | 168.81 |
| PV of Terminal Value (M) | 3,941.15 | 4,131.51 | 4,329.16 |
| Equity Value (M) | 4,516.56 | 4,725.40 | 4,942.03 |
| Shares Outstanding (M) | 44.99 | 44.99 | 44.99 |
| Fair Value | $100.40 | $105.04 | $109.85 |
| Upside / Downside | 1,346.62% | 1,413.50% | 1,482.89% |
| 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% |