Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Canadian National Railway Company (CNI)

Company Dividend Discount ModelIndustry: RailroadsSector: Industrials

Valuation Snapshot

Stable Growth$112.60 - $223.08$155.94
Multi-Stage$173.42 - $190.34$181.72
Blended Fair Value$168.83
Current Price$131.26
Upside28.62%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.73%10.08%3.413.303.202.772.612.462.131.981.851.59
YoY Growth--3.24%3.34%15.17%6.49%5.83%15.83%7.59%6.90%16.37%21.76%
Dividend Yield--2.43%1.86%2.00%1.65%1.79%2.26%1.76%2.10%1.88%1.96%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,296.80
(-) Cash Dividends Paid (M)2,176.00
(=) Cash Retained (M)2,120.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)859.36537.10322.26
Cash Retained (M)2,120.802,120.802,120.80
(-) Cash Required (M)-859.36-537.10-322.26
(=) Excess Retained (M)1,261.441,583.701,798.54
(/) Shares Outstanding (M)627.05627.05627.05
(=) Excess Retained per Share2.012.532.87
LTM Dividend per Share3.473.473.47
(+) Excess Retained per Share2.012.532.87
(=) Adjusted Dividend5.486.006.34
WACC / Discount Rate6.40%6.40%6.40%
Growth Rate1.46%2.46%3.46%
Fair Value$112.60$155.94$223.08
Upside / Downside-14.22%18.80%69.95%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,296.804,402.394,510.584,621.434,735.004,851.364,996.90
Payout Ratio50.64%58.51%66.39%74.26%82.13%90.00%92.50%
Projected Dividends (M)2,176.002,576.012,994.373,431.733,888.784,366.224,622.13

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.40%6.40%6.40%
Growth Rate1.46%2.46%3.46%
Year 1 PV (M)2,397.502,421.132,444.76
Year 2 PV (M)2,593.742,645.122,697.01
Year 3 PV (M)2,766.602,849.212,933.45
Year 4 PV (M)2,917.813,034.563,154.78
Year 5 PV (M)3,049.023,202.273,361.63
PV of Terminal Value (M)95,016.4099,792.19104,758.12
Equity Value (M)108,741.07113,944.49119,349.75
Shares Outstanding (M)627.05627.05627.05
Fair Value$173.42$181.72$190.34
Upside / Downside32.12%38.44%45.01%

High-Yield Dividend Screener

« Prev Page 8 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ACICAmerican Coastal Insurance Corporation4.24%$0.4828.28%
NCDLNuveen Churchill Direct Lending Corp.4.24%$0.5730.88%
ESEversource Energy4.23%$2.8879.84%
ISBCInvestors Bancorp, Inc.4.21%$0.5844.24%
KMIKinder Morgan, Inc.4.21%$1.1795.05%
PWODPenns Woods Bancorp, Inc.4.17%$1.2545.44%
DDSDillard's, Inc.4.16%$26.5071.17%
RLIRLI Corp.4.16%$2.6067.96%
TFCTruist Financial Corporation4.16%$2.0753.19%
RMBIRichmond Mutual Bancorporation, Inc.4.15%$0.5854.33%
PRPermian Resources Corporation4.14%$0.6052.90%
RILYTB. Riley Financial, Inc. 6.00% Senior Notes Due 20284.13%$0.5856.91%
DGICADonegal Group Inc.4.12%$0.8028.85%
AUBNAuburn National Bancorporation, Inc.4.11%$1.0876.62%
FHBFirst Hawaiian, Inc.4.11%$1.0650.97%
PORPortland General Electric Company4.09%$1.9872.28%
NEWTLNewtek Business Services Corp.4.08%$1.0244.14%
NEWTGNewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 20294.06%$1.0244.14%
NEWTZNewtek Business Services Corp. 5.50% Notes Due 20264.05%$1.0244.14%
LKQLKQ Corporation4.04%$1.2144.76%
NWENorthwestern Energy Group Inc4.04%$2.6274.07%
PXDPioneer Natural Resources Company4.00%$10.8054.25%
HAFCHanmi Financial Corporation3.99%$1.0744.22%
KSSKohl's Corporation3.99%$0.8550.52%
APAAPA Corporation3.98%$1.0124.12%
NWNNorthwest Natural Holding Company3.98%$1.8676.25%
HFWAHeritage Financial Corporation3.97%$0.9456.54%
WSBCWesBanco, Inc.3.97%$1.3265.39%
FULTFulton Financial Corporation3.96%$0.7739.22%
REYNReynolds Consumer Products Inc.3.96%$0.9163.16%
MSMMSC Industrial Direct Co., Inc.3.95%$3.3995.14%
RF-PFRegions Financial Corporation3.95%$1.0141.98%
NEWTINewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 20283.94%$0.9942.24%
BOHBank of Hawaii Corporation3.93%$2.6958.42%
DCOMDime Community Bancshares, Inc.3.93%$1.1786.59%
OGEOGE Energy Corp.3.93%$1.6967.72%
ASIEXMultisector Income Fund - Investor Class3.92%$0.3596.64%
ESSEssex Property Trust, Inc.3.90%$10.0376.31%
WABCWestamerica Bancorporation3.90%$1.8639.32%
NJRNew Jersey Resources Corporation3.88%$1.7853.65%
XHRXenia Hotels & Resorts, Inc.3.88%$0.5693.99%
ARTNAArtesian Resources Corporation3.87%$1.2255.68%
FFBCFirst Financial Bancorp.3.87%$0.9738.17%
PNWPinnacle West Capital Corporation3.87%$3.4169.92%
UEUrban Edge Properties3.87%$0.7482.23%
NECBNortheast Community Bancorp, Inc.3.86%$0.8827.20%
SCSCXTouchstone Large Cap Focused Fund Class C3.86%$2.8037.43%
BBWIBath & Body Works, Inc.3.85%$0.8024.18%
BHBBar Harbor Bankshares3.85%$1.2054.11%
UGIUGI Corporation3.85%$1.4547.35%