Definitive Analysis
| Stable Growth | $83,283.66 - $268,946.70 | $252,042.45 |
| Multi-Stage | $35,063.84 - $38,398.44 | $36,700.45 |
| Blended Fair Value | $144,371.45 | |
| Current Price | $6,130.00 | |
| Upside | 2,255.16% | |
| Decision | Buy | |
| Metric | 5Y CAGR | 10Y CAGR | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 4.11% | 26.95% | 190.93 | 411.48 | 252.75 | 238.47 | 435.35 | 156.14 | 171.58 | 72.89 | 34.92 | 43.23 |
| YoY Growth | - | - | -53.60% | 62.80% | 5.99% | -45.22% | 178.82% | -9.00% | 135.40% | 108.72% | -19.22% | 146.25% |
| Dividend Yield | - | - | 3.11% | 6.29% | 5.48% | 8.43% | 8.39% | 3.65% | 4.61% | 2.04% | 0.67% | 2.06% |
| Net Income To Common (M) | 822,095.09 |
| (-) Cash Dividends Paid (M) | 116,069.24 |
| (=) Cash Retained (M) | 706,025.84 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (=) Cash Required (M) | 164,419.02 | 102,761.89 | 61,657.13 |
| Cash Retained (M) | 706,025.84 | 706,025.84 | 706,025.84 |
| (-) Cash Required (M) | -164,419.02 | -102,761.89 | -61,657.13 |
| (=) Excess Retained (M) | 541,606.83 | 603,263.96 | 644,368.71 |
| (/) Shares Outstanding (M) | 607.91 | 607.91 | 607.91 |
| (=) Excess Retained per Share | 890.94 | 992.36 | 1,059.98 |
| LTM Dividend per Share | 190.93 | 190.93 | 190.93 |
| (+) Excess Retained per Share | 890.94 | 992.36 | 1,059.98 |
| (=) Adjusted Dividend | 1,081.87 | 1,183.30 | 1,250.91 |
| WACC / Discount Rate | 6.87% | 6.87% | 6.87% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Fair Value | $83,283.66 | $252,042.45 | $268,946.70 |
| Upside / Downside | 1,258.62% | 4,011.62% | 4,287.39% |
| Metric | TTM | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Terminal |
|---|---|---|---|---|---|---|---|
| Net Income (M) | 822,095.09 | 875,531.27 | 932,440.80 | 993,049.45 | 1,057,597.66 | 1,126,341.51 | 1,160,131.76 |
| Payout Ratio | 14.12% | 29.29% | 44.47% | 59.65% | 74.82% | 90.00% | 92.50% |
| Projected Dividends (M) | 116,069.24 | 256,486.62 | 414,667.87 | 592,329.02 | 791,334.15 | 1,013,707.36 | 1,073,121.88 |
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| WACC / Discount Rate | 6.87% | 6.87% | 6.87% |
| Growth Rate | 5.50% | 6.50% | 7.50% |
| Year 1 PV (M) | 237,744.16 | 239,997.66 | 242,251.16 |
| Year 2 PV (M) | 356,279.37 | 363,065.49 | 369,915.63 |
| Year 3 PV (M) | 471,735.37 | 485,277.20 | 499,075.74 |
| Year 4 PV (M) | 584,171.66 | 606,637.25 | 629,744.67 |
| Year 5 PV (M) | 693,646.69 | 727,150.08 | 761,935.73 |
| PV of Terminal Value (M) | 18,971,923.32 | 19,888,274.31 | 20,839,696.21 |
| Equity Value (M) | 21,315,500.56 | 22,310,401.99 | 23,342,619.13 |
| Shares Outstanding (M) | 607.91 | 607.91 | 607.91 |
| Fair Value | $35,063.84 | $36,700.45 | $38,398.44 |
| Upside / Downside | 472.00% | 498.70% | 526.40% |
| 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% |