Dividend Discount Models Snapshot
| Model | Range | Selected |
|---|---|---|
| Stable Growth DDM | $133.25 - $243.43 | $178.02 |
| Multi-Stage DDM | $100.63 - $110.15 | $105.30 |
| Blended Fair Value | $141.66 | |
| Stock Price | $263.70 | |
Dividend History (Last 10 Years)
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| DPS | 1.028 | 0.989 | 0.950 | 0.909 | 0.858 | 0.803 | 0.759 | 0.686 | 0.608 | 0.552 |
| YoY % | 3.95% | 4.05% | 4.53% | 5.97% | 6.78% | 5.80% | 10.75% | 12.79% | 10.07% | 10.69% |
| Yield | 0.39% | 0.37% | 0.36% | 0.34% | 0.33% | 0.30% | 0.29% | 0.26% | 0.23% | 0.21% |
| CAGR | Value |
|---|---|
| 5 Year | 5.05% |
| 10 Year | 7.49% |
Discounted Dividend Model - Stable Growth
| Metric | Range | Selected |
|---|---|---|
| LT Growth | 3.56% to 5.56% | 4.56% |
| WACC | 9.00% | 9.00% |
| Fair Value | $133.25 - $243.43 | $178.02 |
Calculation Details (Millions)
| Metric | LOW | BASE | HIGH |
|---|---|---|---|
| Required Retention Ratio | 20.0% | 12.5% | 7.5% |
| (*) Adjusted Net Income | 112,010.00 | 112,010.00 | 112,010.00 |
| (=) Cash Required | 22,402.00 | 14,001.25 | 8,400.75 |
| (=) Excess Retained per Share | 5.97 | 6.53 | 6.91 |
| LTM Dividend per Share | 1.028 | 1.028 | 1.028 |
| (=) Adjusted Dividend | 7.000 | 7.560 | 7.933 |
Multi-Stage Projections (BASE Case - Millions)
| Metric | TTM | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|---|
| Net Income | 112,010.00 | 117,117.64 | 122,458.18 | 128,042.25 | 133,880.96 | 139,985.90 |
| Projected Dividends | 15,421.00 | 29,279.41 | 50,207.85 | 72,984.08 | 97,733.10 | 125,987.31 |
Multi-Stage Valuation (Millions)
| Present Values | LOW | BASE | HIGH |
|---|---|---|---|
| Year 1 PV | 27,776.37 | 28,044.59 | 28,312.80 |
| Year 2 PV | 43,279.76 | 44,119.63 | 44,967.58 |
| Year 3 PV | 57,166.46 | 58,838.54 | 60,542.92 |
| Year 4 PV | 69,559.23 | 72,285.12 | 75,090.35 |
| Year 5 PV | 81,477.91 | 85,488.48 | 89,655.43 |
| TV PV | 1,230,657.40 | 1,291,233.65 | 1,354,172.13 |
| Equity Value | 1,509,917.14 | 1,580,010.01 | 1,652,741.22 |
| Fair Value | $100.63 | $105.30 | $110.15 |
Top Dividend Stocks
| Ticker | Company Name | Yield % | DPS | Payout % |
|---|---|---|---|---|
| VKQ | VKQ | 8.62% | $0.84 | 69.07% |
| ARCC | ARCC | 8.61% | $1.76 | 91.56% |
| TPVG | TPVG | 8.52% | $0.57 | 67.26% |
| C-PJ | C-PJ | 8.49% | $2.13 | 26.99% |
| RVT | RVT | 8.42% | $1.36 | 39.40% |
| OGN | OGN | 8.37% | $0.61 | 31.54% |
| MITT | MITT | 8.12% | $0.70 | 43.47% |
| CAG | CAG | 8.06% | $1.39 | 78.70% |
| NOG | NOG | 8.02% | $1.77 | 94.64% |
| PAA | PAA | 8.00% | $1.46 | 90.71% |
| TSLX | TSLX | 8.00% | $1.73 | 85.26% |
| ACCO | ACCO | 7.90% | $0.29 | 67.00% |
| ETD | ETD | 7.90% | $1.81 | 97.75% |
| CQP | CQP | 7.82% | $4.23 | 88.03% |
| UNMA | UNMA | 7.69% | $1.79 | 33.52% |
| WRB-PH | WRB-PH | 7.68% | $1.27 | 26.69% |
| JHS | JHS | 7.65% | $0.89 | 94.90% |
| NID | NID | 7.59% | $1.02 | 84.59% |
| HWCPZ | HWCPZ | 7.58% | $1.77 | 31.35% |
| WRB-PG | WRB-PG | 7.54% | $1.27 | 26.69% |
| NMT | NMT | 7.48% | $0.85 | 80.62% |
| LOAN | LOAN | 7.45% | $0.35 | 74.53% |
| OPAL | OPAL | 7.43% | $0.18 | 46.94% |
| ZIONL | ZIONL | 7.42% | $1.86 | 32.04% |
| GMTA | GMTA | 7.41% | $1.86 | 21.29% |
| IIM | IIM | 7.41% | $0.92 | 64.33% |
| JMM | JMM | 7.28% | $0.44 | 61.06% |
| BKE | BKE | 7.26% | $3.91 | 96.21% |
| MHI | MHI | 7.19% | $0.64 | 13.70% |
| ORI | ORI | 7.19% | $3.11 | 93.13% |
| PMF | PMF | 7.07% | $0.59 | 92.59% |
| RYN | RYN | 7.04% | $1.52 | 30.67% |
| DRQ | DRQ | 7.02% | $1.08 | 50.37% |
| TRINI | TRINI | 7.02% | $1.78 | 83.48% |
| C-PN | C-PN | 7.01% | $2.13 | 26.99% |
| VPV | VPV | 6.98% | $0.73 | 60.22% |
| VCV | VCV | 6.97% | $0.78 | 60.58% |
| EOT | EOT | 6.96% | $1.18 | 69.84% |
| FLATX | FLATX | 6.92% | $1.15 | 39.63% |
| EGY | EGY | 6.91% | $0.25 | 92.67% |
| NOM | NOM | 6.91% | $0.82 | 78.81% |
| UBCP | UBCP | 6.90% | $0.99 | 96.30% |
| TBC | TBC | 6.89% | $1.72 | 55.65% |
| GTN | GTN | 6.87% | $0.33 | 34.04% |
| HEP | HEP | 6.86% | $1.40 | 74.08% |
| AFG | AFG | 6.85% | $9.23 | 96.49% |
| BANFP | BANFP | 6.85% | $1.80 | 25.72% |
| CFG-PD | CFG-PD | 6.83% | $1.71 | 43.60% |
| RCII | RCII | 6.81% | $1.82 | 79.98% |
| SPH | SPH | 6.81% | $1.27 | 78.56% |