Definitive Analysis
| Stable Growth | $45,884.43 - $108,912.93 | $102,067.36 |
| Multi-Stage | $15,849.66 - $17,357.09 | $16,589.50 |
| Blended Fair Value | $59,328.43 | |
| Current Price | $3,715.00 | |
| Upside | 1,497.00% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 0.00% | 35.31% | 84.97 | 149.95 | 99.97 | 51.52 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| YoY Growth | - | - | -43.33% | 50.00% | 94.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -100.00% |
| Dividend Yield | - | - | 2.52% | 3.62% | 1.72% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Income To Common (M) | 292,829.00 |
| (-) Cash Dividends Paid (M) | 64,139.00 |
| (=) Cash Retained (M) | 228,690.00 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 58,565.80 | 36,603.63 | 21,962.18 |
| Cash Retained (M) | 228,690.00 | 228,690.00 | 228,690.00 |
| (-) Cash Required (M) | -58,565.80 | -36,603.63 | -21,962.18 |
| (=) Excess Retained (M) | 170,124.20 | 192,086.38 | 206,727.83 |
| (/) Shares Outstanding (M) | 534.71 | 534.71 | 534.71 |
| (=) Excess Retained per Share | 318.16 | 359.24 | 386.62 |
| LTM Dividend per Share | 119.95 | 119.95 | 119.95 |
| (+) Excess Retained per Share | 318.16 | 359.24 | 386.62 |
| (=) Adjusted Dividend | 438.12 | 479.19 | 506.57 |
| WACC / Discount Rate | 6.51% | 6.51% | 6.51% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $45,884.43 | $102,067.36 | $108,912.93 |
| Upside / Downside | 1,135.11% | 2,647.44% | 2,831.71% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 292,829.00 | 311,862.89 | 332,133.97 | 353,722.68 | 376,714.65 | 401,201.11 | 413,237.14 |
| Payout Ratio | 21.90% | 35.52% | 49.14% | 62.76% | 76.38% | 90.00% | 92.50% |
| Projected Dividends (M) | 64,139.00 | 110,781.75 | 163,217.06 | 222,000.92 | 287,737.08 | 361,081.00 | 382,244.36 |
| 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) | 103,036.60 | 104,013.25 | 104,989.90 |
| Year 2 PV (M) | 141,192.68 | 143,882.00 | 146,596.70 |
| Year 3 PV (M) | 178,617.79 | 183,745.26 | 188,969.94 |
| Year 4 PV (M) | 215,322.34 | 223,603.03 | 232,120.29 |
| Year 5 PV (M) | 251,316.61 | 263,455.29 | 276,058.55 |
| PV of Terminal Value (M) | 7,585,420.93 | 7,951,799.59 | 8,332,200.44 |
| Equity Value (M) | 8,474,906.94 | 8,870,498.43 | 9,280,935.82 |
| Shares Outstanding (M) | 534.71 | 534.71 | 534.71 |
| Fair Value | $15,849.66 | $16,589.50 | $17,357.09 |
| Upside / Downside | 326.64% | 346.55% | 367.22% |
| Ticker ⇵ | Company ⇵ | Dividend Yield % ▼ | Dividend Per Share ⇵ | Payout Ratio % ⇵ |
|---|---|---|---|---|
| ACIC | American Coastal Insurance Corporation | 4.24% | $0.48 | 28.28% |
| NCDL | Nuveen Churchill Direct Lending Corp. | 4.24% | $0.57 | 30.88% |
| ES | Eversource Energy | 4.23% | $2.88 | 79.84% |
| ISBC | Investors Bancorp, Inc. | 4.21% | $0.58 | 44.24% |
| KMI | Kinder Morgan, Inc. | 4.21% | $1.17 | 95.05% |
| PWOD | Penns Woods Bancorp, Inc. | 4.17% | $1.25 | 45.44% |
| DDS | Dillard's, Inc. | 4.16% | $26.50 | 71.17% |
| RLI | RLI Corp. | 4.16% | $2.60 | 67.96% |
| TFC | Truist Financial Corporation | 4.16% | $2.07 | 53.19% |
| RMBI | Richmond Mutual Bancorporation, Inc. | 4.15% | $0.58 | 54.33% |
| PR | Permian Resources Corporation | 4.14% | $0.60 | 52.90% |
| RILYT | B. Riley Financial, Inc. 6.00% Senior Notes Due 2028 | 4.13% | $0.58 | 56.91% |
| DGICA | Donegal Group Inc. | 4.12% | $0.80 | 28.85% |
| AUBN | Auburn National Bancorporation, Inc. | 4.11% | $1.08 | 76.62% |
| FHB | First Hawaiian, Inc. | 4.11% | $1.06 | 50.97% |
| POR | Portland General Electric Company | 4.09% | $1.98 | 72.28% |
| NEWTL | Newtek Business Services Corp. | 4.08% | $1.02 | 44.14% |
| NEWTG | NewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 2029 | 4.06% | $1.02 | 44.14% |
| NEWTZ | Newtek Business Services Corp. 5.50% Notes Due 2026 | 4.05% | $1.02 | 44.14% |
| LKQ | LKQ Corporation | 4.04% | $1.21 | 44.76% |
| NWE | Northwestern Energy Group Inc | 4.04% | $2.62 | 74.07% |
| PXD | Pioneer Natural Resources Company | 4.00% | $10.80 | 54.25% |
| HAFC | Hanmi Financial Corporation | 3.99% | $1.07 | 44.22% |
| KSS | Kohl's Corporation | 3.99% | $0.85 | 50.52% |
| APA | APA Corporation | 3.98% | $1.01 | 24.12% |
| NWN | Northwest Natural Holding Company | 3.98% | $1.86 | 76.25% |
| HFWA | Heritage Financial Corporation | 3.97% | $0.94 | 56.54% |
| WSBC | WesBanco, Inc. | 3.97% | $1.32 | 65.39% |
| FULT | Fulton Financial Corporation | 3.96% | $0.77 | 39.22% |
| REYN | Reynolds Consumer Products Inc. | 3.96% | $0.91 | 63.16% |
| MSM | MSC Industrial Direct Co., Inc. | 3.95% | $3.39 | 95.14% |
| RF-PF | Regions Financial Corporation | 3.95% | $1.01 | 41.98% |
| NEWTI | NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 | 3.94% | $0.99 | 42.24% |
| BOH | Bank of Hawaii Corporation | 3.93% | $2.69 | 58.42% |
| DCOM | Dime Community Bancshares, Inc. | 3.93% | $1.17 | 86.59% |
| OGE | OGE Energy Corp. | 3.93% | $1.69 | 67.72% |
| ASIEX | Multisector Income Fund - Investor Class | 3.92% | $0.35 | 96.64% |
| ESS | Essex Property Trust, Inc. | 3.90% | $10.03 | 76.31% |
| WABC | Westamerica Bancorporation | 3.90% | $1.86 | 39.32% |
| NJR | New Jersey Resources Corporation | 3.88% | $1.78 | 53.65% |
| XHR | Xenia Hotels & Resorts, Inc. | 3.88% | $0.56 | 93.99% |
| ARTNA | Artesian Resources Corporation | 3.87% | $1.22 | 55.68% |
| FFBC | First Financial Bancorp. | 3.87% | $0.97 | 38.17% |
| PNW | Pinnacle West Capital Corporation | 3.87% | $3.41 | 69.92% |
| UE | Urban Edge Properties | 3.87% | $0.74 | 82.23% |
| NECB | Northeast Community Bancorp, Inc. | 3.86% | $0.88 | 27.20% |
| SCSCX | Touchstone Large Cap Focused Fund Class C | 3.86% | $2.80 | 37.43% |
| BBWI | Bath & Body Works, Inc. | 3.85% | $0.80 | 24.18% |
| BHB | Bar Harbor Bankshares | 3.85% | $1.20 | 54.11% |
| UGI | UGI Corporation | 3.85% | $1.45 | 47.35% |