Definitive Analysis
| Stable Growth | $13,429.85 - $23,263.33 | $17,652.56 |
| Multi-Stage | $22,117.12 - $24,331.68 | $23,203.00 |
| Blended Fair Value | $20,427.78 | |
| Current Price | $3,145.00 | |
| Upside | 549.53% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 13.22% | 2.47% | 193.40 | 68.69 | 128.20 | 31.18 | 31.18 | 103.95 | 145.53 | 99.01 | 187.11 | 205.91 |
| YoY Growth | - | - | 181.57% | -46.42% | 311.10% | 0.00% | -70.00% | -28.57% | 46.99% | -47.09% | -9.13% | 35.89% |
| Dividend Yield | - | - | 7.60% | 2.42% | 5.34% | 0.99% | 0.97% | 7.48% | 3.64% | 1.60% | 3.10% | 3.07% |
| Net Income To Common (M) | 756,722.72 |
| (-) Cash Dividends Paid (M) | 46,515.00 |
| (=) Cash Retained (M) | 710,207.72 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 151,344.54 | 94,590.34 | 56,754.20 |
| Cash Retained (M) | 710,207.72 | 710,207.72 | 710,207.72 |
| (-) Cash Required (M) | -151,344.54 | -94,590.34 | -56,754.20 |
| (=) Excess Retained (M) | 558,863.17 | 615,617.38 | 653,453.51 |
| (/) Shares Outstanding (M) | 722.84 | 722.84 | 722.84 |
| (=) Excess Retained per Share | 773.15 | 851.67 | 904.01 |
| LTM Dividend per Share | 64.35 | 64.35 | 64.35 |
| (+) Excess Retained per Share | 773.15 | 851.67 | 904.01 |
| (=) Adjusted Dividend | 837.50 | 916.02 | 968.36 |
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 0.47% | 1.47% | 2.47% |
| Fair Value | $13,429.85 | $17,652.56 | $23,263.33 |
| Upside / Downside | 327.02% | 461.29% | 639.69% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 756,722.72 | 767,846.63 | 779,134.06 | 790,587.41 | 802,209.14 | 814,001.70 | 838,421.75 |
| Payout Ratio | 6.15% | 22.92% | 39.69% | 56.46% | 73.23% | 90.00% | 92.50% |
| Projected Dividends (M) | 46,515.00 | 175,971.41 | 309,223.82 | 446,355.86 | 587,452.78 | 732,601.53 | 775,540.12 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.74% | 6.74% | 6.74% |
| Growth Rate | 0.47% | 1.47% | 2.47% |
| Year 1 PV (M) | 163,242.14 | 164,866.92 | 166,491.71 |
| Year 2 PV (M) | 266,105.12 | 271,428.69 | 276,804.98 |
| Year 3 PV (M) | 356,329.42 | 367,075.54 | 378,035.58 |
| Year 4 PV (M) | 435,044.37 | 452,625.05 | 470,733.26 |
| Year 5 PV (M) | 503,290.30 | 528,840.67 | 555,418.35 |
| PV of Terminal Value (M) | 14,263,123.90 | 14,987,215.19 | 15,740,420.13 |
| Equity Value (M) | 15,987,135.25 | 16,772,052.06 | 17,587,904.00 |
| Shares Outstanding (M) | 722.84 | 722.84 | 722.84 |
| Fair Value | $22,117.12 | $23,203.00 | $24,331.68 |
| Upside / Downside | 603.25% | 637.77% | 673.66% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| PFE | Pfizer Inc. | 6.75% | $1.70 | 98.83% |
| COG | Cabot Oil & Gas Corporation | 6.71% | $1.49 | 52.20% |
| VZ | Verizon Communications Inc. | 6.66% | $2.70 | 57.56% |
| AC | Associated Capital Group, Inc. | 6.63% | $2.21 | 86.94% |
| VAC | Marriott Vacations Worldwide Corporation | 6.62% | $3.90 | 78.61% |
| SSTK | Shutterstock, Inc. | 6.61% | $1.24 | 75.34% |
| EPD | Enterprise Products Partners L.P. | 6.60% | $2.12 | 80.06% |
| SXC | SunCoke Energy, Inc. | 6.57% | $0.48 | 63.44% |
| DIN | Dine Brands Global, Inc. | 6.56% | $2.18 | 90.98% |
| CBL | CBL & Associates Properties, Inc. | 6.54% | $2.42 | 61.13% |
| CRI | Carter's, Inc. | 6.47% | $2.15 | 85.39% |
| KYN | Kayne Anderson Energy Infrastructure Fund, Inc. | 6.47% | $0.80 | 35.36% |
| SMMCX | Western Asset Managed Municipals Fund Class C | 6.45% | $0.96 | 71.65% |
| HESM | Hess Midstream LP | 6.39% | $2.21 | 87.39% |
| WRB-PF | W.R. Berkley Corporation 5.10% | 6.38% | $1.27 | 26.69% |
| RMT | Royce Micro-Cap Trust, Inc. | 6.37% | $0.67 | 32.29% |
| PNF | PIMCO New York Municipal Income Fund | 6.30% | $0.48 | 54.92% |
| ENR | Energizer Holdings, Inc. | 6.29% | $1.25 | 36.44% |
| UPS | United Parcel Service, Inc. | 6.29% | $6.35 | 98.06% |
| NWBI | Northwest Bancshares, Inc. | 6.27% | $0.75 | 93.81% |
| UIHC | United Insurance Holdings Corp. | 6.27% | $0.48 | 5.99% |
| TROW | T. Rowe Price Group, Inc. | 6.24% | $6.53 | 69.41% |
| JRSH | Jerash Holdings (US), Inc. | 6.20% | $0.19 | 0.52% |
| MUA | BlackRock MuniAssets Fund, Inc. | 6.14% | $0.66 | 73.39% |
| VKI | Invesco Advantage Municipal Income Trust II | 6.11% | $0.56 | 76.68% |
| GL-PD | Globe Life Inc. 4.25% Junior Su | 6.10% | $1.03 | 7.35% |
| CLNY | Colony Capital, Inc. | 6.07% | $0.52 | 13.43% |
| OMF | OneMain Holdings, Inc. | 6.07% | $4.20 | 71.06% |
| VICI | VICI Properties Inc. | 6.07% | $1.71 | 65.54% |
| IMMR | Immersion Corporation | 6.06% | $0.39 | 14.22% |
| KRNY | Kearny Financial Corp. | 5.99% | $0.44 | 93.99% |
| DMF | BNY Mellon Municipal Income, Inc. | 5.97% | $0.41 | 29.64% |
| UNB | Union Bankshares, Inc. | 5.96% | $1.41 | 57.02% |
| ARTMX | Artisan Mid Cap Fund Inv Shs | 5.91% | $1.95 | 91.77% |
| SABA | Saba Capital Income & Opportunities Fund II | 5.87% | $0.49 | 24.55% |
| BRD | Beard Energy Transition Acquisition Corp. | 5.86% | $0.63 | 95.51% |
| ETRN | Equitrans Midstream Corporation | 5.81% | $0.72 | 69.91% |
| EHLDV | Euroholdings Ltd | 5.80% | $0.28 | 5.02% |
| REPX | Riley Exploration Permian, Inc. | 5.80% | $1.54 | 38.01% |
| AII | American Integrity Insurance Group, Inc. | 5.79% | $1.17 | 26.25% |
| VRTS | Virtus Investment Partners, Inc. | 5.75% | $9.35 | 47.12% |
| CXH | MFS Investment Grade Municipal Trust | 5.74% | $0.46 | 80.40% |
| GES | Guess', Inc. | 5.72% | $0.96 | 61.52% |
| KRC | Kilroy Realty Corporation | 5.71% | $2.17 | 79.80% |
| WRB-PE | W. R. Berkley Corporation 5.70% SB DB 2058 | 5.68% | $1.27 | 26.69% |
| LEO | BNY Mellon Strategic Municipals, Inc. | 5.66% | $0.36 | 37.22% |
| WLYB | John Wiley & Sons, Inc. | 5.64% | $1.76 | 92.90% |
| KMPB | Kemper Corporation 5.875% Fixed | 5.60% | $1.31 | 32.45% |
| CBTX | CBTX, Inc. | 5.56% | $1.63 | 54.55% |
| 0HST.L | Campbell Soup Company | 5.53% | $1.55 | 80.10% |