Thousands of investors are searching for terms like “what stocks to buy now”, or “top stocks to buy today” or “best dividend stocks in 2020.” Judging by the nature of these searches, people are looking to invest hard earned savings and get a return on their money.
The sad truth is, there is no such thing as “best stock to buy now.” To build wealth in the stock market; investors need a long term game plan that incorporates both capital gains and dividend income. This is known as total return investing.
In fact, according to JP Morgan’s Guide to the Markets, dividends accounted for over 40% of total stock market gains over the last 90 years.
In this article, we review some of the best dividend stocks in S&P 500 that are not only raising cash dividends between 10% to 30% annually, but also growing in stock prices. Readers can get a hint by looking at the logos below of which stocks we will cover in this piece.
The holy grail of this strategy is; invest in best dividend stocks that are opening new and profitable stores worldwide, have easy to understand businesses and healthy balance sheets, stable operating margins in excess of 20%, management that is shareholder friendly and a business that is not under the threat of extinction like Kodak or Blockbuster.
Before continuing, we recommend getting familiar with dividend growth investing. In this article, we talk about a young investor named Abby who would like to invest $10,000 and is considering 2 dividend paying stocks.
Stock #1: Should she buy shares in a mature company like Colgate-Palmolive that is growing its dividend at 4% annually?
Stock #2: Or should she invest in Visa that is growing its dividend at 20% a year?
The article displays an Excel screenshot of growth of Abby’s $10,000 if she were to invest in both companies and hold for 30 years. Here are the conclusions:
Conclusion #1: Abby would generate $761.35 annually in dividend income from owning Colgate shares.
Conclusion #2: She would generate a stunning $13,620.62 annually in dividends by owning Visa.
The math behind this success is the power of compounding growth. Albert Einstein calls is the 8th great wonder of the world. Ask Warren Buffet the reason for his huge success, and he will mention the power of compounding growth.
Having said that, let’s get started! Below are our top 10 dividend stock picks. They are derived from 200+ best dividend stocks.
Please note: Do not be worried if dividend yields below are less than 1%. This is because you should consider total returns; which includes dividend yield + capital appreciation as explained above.
As a spoiler, Visa is our #1 pick that has a 0.67% dividend yield. Not so appetizing right? However, Visa has gained 865% over the last 10 years, crushing the performance of the S&P 500 by 684%! Now does this excite you?!
Stocks Discussed in this Article
- Visa (V)
- Starbucks (SBUX)
- Crown Castle International (CCI)
- Honeywell Inc. (HON)
- Texas Instruments (TXN)
- Costco Wholesale (COST)
- Sherwin-Williams Company (SHW)
- S&P Global Inc. (SPGI)
- Nike Inc. (NKE)
a) 20% Dividend Growth Stock: Visa Inc. (V)
Visa was founded in 1958 as Bank Americard in Fresno, California. The company went public in March 2008 in a huge public offering. Visa’s bread and butter is providing transaction processing services primarily authorization, clearing and settlement to clients such as banks, merchants and financial institutions. The company processes an average of 500 million transactions a day, or 182 billion per year.
For fiscal 2019, Visa generated $22.98 billion in revenues and earned a net income of $12.08 billion. This implies a juicy net profit margin of 52.5%.
Revenues grew 11.5% in 2019 as compared to 2018’s total of $20.6 billion. Over the last decade, Visa has grown its revenues at a compounded annual growth rate of 9.84%. What’s even more exciting is the company has grown its earnings per share at a compounded annual growth rate of 17.4% over the last decade.
Management has guided low double-digit revenue growth expected for 2020 in its 4th Quarter, 2019 earnings. A double digit revenue growth is higher than the 9.84% it has achieved over the last decade.
Management has reduced Visa’s share count from 2.789 billion share in 2010 to 2.155 billion in 2019; a 23% reduction. This partially explains why Visa is able to achieve 17.4% earnings per share growth, but only 9.84% revenue growth.
Visa has a market capitalization of $353.3 billion and pays a 0.67% dividend yield. Although this yield looks low, the company has grown its dividend at a compounded annual growth rate of 20% over 5 years.
Investors are paying a premium for Visa Stock due to its impressive revenue and earnings per share growth numbers. The stock trades at 29 times forward earnings (PE).
Visa Inc. is growing revenues across all its businesses including Services, Data Processing and International Transactions.
Service revenues grew 9% in 2019, data processing revenues 16% and international processing fees 11%.
The company is also making growth acquisitions e.g. Earthport which was purchased in July 2019. Earthport provides cross-border payment services to small regional banks as well as money transfer services in over 88 countries.
Visa also acquired Payworks in July 2019. Payworks is an in-store payment processor that can be used with Android, Windows, iOS or Web based operating systems to create digital payment solutions.
Over the last 10 years, while the S&P 500 Index has gained 182.5%, Visa has gained a crushing 866.4%, outperforming by 684%. We expect this performance to continue as the company has a huge global opportunity in the payments space, as well as growing by making smart acquisitions.
Visa has the top market share in the payment processing industry. The screenshot below is for the 2017 provided in the company’s 2018 annual report.
While Visa handled $10.516 trillion in total volume in 2017, its next best competitor MasterCard handled just half that volume, at $5.242 trillion. American Express is the 3rd competitor at $1.085 trillion, which is 1/10th the size of Visa’s volume.
Although we do not recommend buying Visa stock at these levels due to elevated valuation, a 10% market correction would present a tremendous buying opportunity for long term investors.
b) 21% Dividend Growth Stock: Starbucks Corp. (SBUX)
Operating in 78 markets and founded in 1985, Starbucks is the roaster, marketer and retailer of specialty coffee products, teas and beverages that are sold in company-operated stores. The company also sells coffee brands like Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve and Princi.
Starbucks operates 29,324 retail locations as of September 2018 broken down in to company owned stores and licensed stores. For fiscal 2019, Starbucks generated $26.508 billion in revenues and earned an operating income of $4.077 billion and $3.599 billion in net income.
This implies an operating margin of 15% and net profit margin of 13.6%. The company trades on the Nasdaq stock exchange, has a market capitalization of $97.39 billion and yields a 2% dividend.
What we really like about this coffee chain is 21% annualized dividend growth average over the last 5 years.
Investors are paying a premium for quality stock like Starbucks. Its forward price to earnings ratio is 27 times earnings. This means for every $1 the company generates in earnings, investors are paying $27 to own a piece of it.
In its full year 2019 financial results, Starbucks reported same store sales growth of 6% in the United States driven by a 3% rise in average ticket price and 3% in comparable transactions. Same store sales grew 5% in China and 3% internationally .
The company rewarded shareholders with $12 billion in the form of share buybacks and dividends in 2019. Starbucks management is also ramping up its E Commerce efforts by growing the Starbucks Rewards loyalty program. Active members in this program grew to 17.6 million, up 15% from 2018.
Starbucks Rewards is an innovative app that allows customers to earn free coffees, order from their apps and skip lines, as well as customize their coffees, order lunch items, or purchase merchandise from the store.
What’s in store for 2020? Management expects 3-4% same store sales growth, around 2000 new stores added and revenue growth between 6% to 8%. This guidance is very healthy and attainable.
On a valuation basis, the stock is quite expensive and risky for new investors to buy in. It would be smart for investors to add Starbucks to their portfolios on market weakness or correction between 10% to 20%.
Over the last 10 years, Starbucks stock has gained 782.9% while the S&P 500 has gained 182.3%. This is an excellent out performance of 600%. Even though growth might slow over the next decade, we still like this company and expect it to deliver double-digit returns over the next few years.
c) 34% Dividend Growth Stock: Crown Castle International Corp. (CCI)
Crown Castle International Corp. owns, leases and operates shared communications infrastructure such as 40,000 cellular towers and 75,000 route miles of fiber, which supports small cell networks. These small cell networks enable Wireless companies like AT&T, Verizon, T Mobile and Sprint among others to provide wireless services in America.
Legally, the company operates as a Real Estate Investment Trust (REIT) and according to its 2018 annual report, 40% of its rental revenues and gross margin is derived from the land the company owns, and 60% is land that the company leases, manages or licenses from other landlords. Crown Castle is in a sweet spot because its revenues are recurring in nature and linked to long term rental contracts.
For 2018, Crown Castle International reported $5.42 billion in rental and services revenues and earned operating income of $1.432 billion. Net income was $671 million. Revenues in 2018 grew 24.5% from 2017 when Crown Castle generated $4.356 billion. Operating margin stands at 26.4% while net profit margin stands at 12.3%.
The stock trades on the New York Stock Exchange and has a market capitalization of $54.25 billion. The company pays a dividend yield of 3.66%, which is much higher than the yield provided by the S&P 500 index (1.9%).
Management has a solid track record of delivering revenue growth by making timely mergers and acquisitions. Below is a screenshot provided in the company’s 2018 annual report that shows how site rental revenues have grown from a modest $352 million in 2001 to $4.965 billion in 2019.
Due to this terrific growth and solid business fundamentals, investors are paying a premium for this stock. Crown Castle International stock trades at 64.7 times earnings (forward PE) which is very expensive. As a comparison, the S&P 500 index trades at 17.5 times forward earnings.
Over the last 5 years, the company has grown its dividend from $1.87 in 2014 to $4.275, an impressive compounded annual growth rate of almost 34%! However, caution is warranted that this pace of growth is not sustainable because the company is paying out more in dividends than it is bringing in cash flows, due to capital expenditures.
In 2018, the company generated cash from operations of $2.502 billion, made capital expenditures of $1.741 billion and paid total dividends of $1.8 billion. This leaves a shortfall of about $1 billion that is raised through issuing debt.
Over the last 10 years, Crown Castle International stock has gained 340% while the S&P 500 has gained 182.6%. This is an excellent out performance of almost 158%.
For 2020, management expects site rental revenues to grow from $4.98 billion in 2019 to a range between $5.196 billion to $5.241 billion, a growth of 5.2%. The company has also indicated it intends to grow common stock dividend by 7%, from $4.50 per share in 2018 to $4.80 per share in 2019.
We like the long term fundamentals of this company. However, valuations are very stretched. It would be prudent for investors to add to this stock on major market weakness or corrections between 10% to 20%.
d) 13% Dividend Growth Stock: Honeywell International Inc. (HON)
Honeywell International Inc. is a diversified manufacturing and technology company that aims to address some of the world’s most critical challenges. It conducts operations in 4 segments:
- Home and Building Technologies
- Performance Materials and Technologies
- Safety and Productivity Solutions.
The company employs 114,000 people worldwide of whom 44,000 are in the United States. Aerospace is the biggest division generating 37% of total revenues in 2018. This division supplies software, products and services to original plane manufacturers.
Examples of products sold are propulsion engines, auxiliary power units, electric power systems, navigation hardware, etc. The US Government and Department of Defense is the company’s largest customer totaling $3.4 billion in sales for 2018.
In 2018, Honeywell generated $41.8 billion in revenues, a 3% growth from 2017’s revenues of $40.534 billion. Net income was $6.765 billion, implying a net profit margin of 16.2%.
Trading on the New York Stock Exchange, Honeywell has a market capitalization of $130 billion and pays a dividend yield of 2%. This dividend is 10 basis points better than the S&P 500.
Over the last 5 years, compounded annual growth rate of the company’s dividend is an impressive 12.75%. Honeywell first paid a dividend in 2002 totaling $0.75. As of 2019 full year, the company paid a dividend of $3.36. This is an excellent growth of 448% in 17 years.
Management is committed to growing sales and achieved a 3% growth in organic revenues for the 3rd quarter 2019. Sales were $9.1 billion, up from $8.8 billion year over year. Adjusted earnings per share grew 9% in this period.
The strongest segment for Honeywell’s business is Aerospace, achieving a 10% organic sales growth. Home building and materials and technologies came next with 3% growth.
The International Air Transport Association (IATA) reported 4.1 billion passengers flew in airplanes in 2017, a 7.3% growth over 2016 or 280 million more passengers. This explosive growth requires more planes to be built, plane parts sold to plane manufacturers like Boeing, hence Honeywell is enjoying this success.
Honeywell is also experiencing strength in commercial fire and building management products.
Honeywell UOP, which is a division of Performance Materials and Technologies reported strong growth in licensing technologies to oil and gas customers.
Due to strong management, accretive acquisitions and continued strength in its aerospace business, Honeywell stock is trading at a premium. The forward price to earnings ratio as of November 2019 is 22.35 times earnings, which is higher than the price to earnings ratio on the S&P 500 (17.5).
Over the last 10 years, Honeywell stock has gained 511%, versus the S&P 500 which is up 182.75%.
Honeywell is included in the S&P Industrials Index (XLI) and carries a 5%+ weighting. The index forward price to earnings ratio is 16.5, which proves Honeywell is trading at a premium to its counterparts.
5) 21% Dividend Growth Stock: Texas Instruments (TXN)
Texas Instruments manufactures semiconductors (electronic components found inside various technologies like cell phones). Without getting too technical, semiconductors combine multiple transistors to form complete circuits.
Texas Instruments sells thousands of chips that accomplish different things like managing and distributing power, converting and amplifying signals, processing data and instructions from computers, etc.
The company reports its financials under two segments:
- Embedded Processing.
The company has shifted its focus towards designing chips for the automotive and industrial markets, which are seeing solid growth. It has over 100,000 customers and more than 1/3rd of the revenue is derived from customers that are NOT in the top 100.
For 2018, Texas Instruments’s revenues were $15.78 billion, a 5.5% growth from 2017 revenues of $14.96 billion. It earned gross profit of $10.277 billion, implying a gross profit margin of 65%. Net income for 2018 came in at $5.58 billion, implying a net profit margin of 35.3%.
The stock trades on the Nasdaq stock exchange and has a market capitalization of $111.26 billion and carries a dividend yield of 3%. This yield is 110 basis points higher than the average yield on the S&P 500 index (1.9%).
Texas Instruments has grown its dividend at a compounded annual growth rate (CAGR) of 21% over the last 5 years. TI is committed to returning all of its free cash flow to shareholders in the form of dividends and share buybacks. In fact, the company has reduced its share count by 45% since 2004, and reduced total outstanding shares by 3.9% in 2018.
Dividend payout ratio for 2018 is 42% of free cash flows, which leaves plenty of room for future dividend increases. What is even more impressive is TI has grown its dividend from $0.09 in 2004 to $3.08 in 2018, a stunning 3400% growth!
Supplying semiconductor chips to the industrial & automotive markets makes up 56% of Texas Instrument’s total revenues in 2018, up from 42% in 2013. The company is prioritizing towards those segments that are growing. Segments such as personal electronics and communications equipment are declining businesses.
The analog segment generated $10.8 billion in revenues for 2018 while embedded processing generated $3.55 billion. Management believes the size of analog chips market is $59 billion, of which TI has captured 18%.
There is room for future growth. For embedded processing, the size of market is $21 billion of which TI has captured 18%. The company sees room for growth in this market.
Investors are paying a high price for Texas Instruments stock due to strong operating and net profit margins, cash flows and recurring revenue model. The stock trades at a forward price to earnings ratio of 22.3 times while the S&P 500 trades at 17.5 times forward earnings.
Over the last 10 years, Texas Instruments stock has gained 499% while the S&P 500 index is up 182.75, an out performance of 316%.
f) 13% Dividend Growth Stock: Costco Wholesale (COST)
Costco Wholesale operates membership warehouses which stock 3700 products at any one time in the store ranging from food and sundries, appliances, electronics, meat, produce, deli, apparel as well as gasoline and pharmaceutical items.
Costco was founded in 1983 in Seattle, Washington and merged with The Price Company in 1993. As of September, 2019, the company operates 783 warehouses, of which 544 are in the United States, 100 in Canada, 39 in Mexico, 29 in UK and 26 in Japan.
Management boasts loyal Costco Card members of which there are 98.5 million with an excellent renewal rate of almost 91%. In terms of store size, an average Costco warehouse is 145,000 square feet. You might not know this fact but Costco as of 2019 is the 3rd largest global retailer in the world, just behind Walmart and Amazon.
For fiscal 2019, Costco generated $152.7 billion in sales and earned $3.659 billion in net income implying a net profit margin of 2.4%. Sales were up 7.9% year over year from 2018’s $141.58 billion.
Trading on the Nasdaq stock exchange, Costco has a market capitalization of $133.17 billion and pays a dividend yield of 0.86%. While this yield looks small, Costco has grown its dividend at an impressive 13% annualized rate over the last 5 years.
In its 2018 annual report, management provides a breakdown of growth in comparable sales. Overall comparable sales grew 10% from 2017 to 2018 with US and Canada sales growing 9% and 10% respectively.
Excluding foreign exchange impacts and gasoline prices, comparable sales grew 7% company wide with the US and Canada growing at 7% and 4%.
From 2018 to 2019, Costco has increased its earnings per share by 16.5%, from $7.09 to $8.26. Costco is also raising membership fees to increase revenues. Membership fees equaled $3.142 billion in 2018, a 10% increase from 2017 ($2.853 billion). Membership fees as percentage of net sales improved by 1 basis point in 2018, from 2.26% in 2017 to 2.27% in 2018.
Opportunity in China
Costco opened its first warehouse in Shanghai, China in August 2019 and had to shut the store earlier in the afternoon due to overcrowding and mad rush from customers.
In its 4th quarter earnings conference call, the Chief Financial Officer said the warehouse had already gathered 200,000 members for its 1 location.
As a comparison, the average Costco warehouse has 68,000 paying members. The company is planning to open a second store by 2021. We like the huge market opportunity in China as well as other countries in Asia.
Over the last 10 years, Costco stock has gained 545.3% while the S&P 500 index has gained 183%. This is a stunning out performance of 362.3%.
Because Costco is a consumer staples company selling items that customers cannot live without, it is trading at an expensive valuation; 35 times forward earnings (forward PE ratio), versus the S&P 500 at 17.5 times forward earnings.
g) 15.5% Dividend Growth Stock: Sherwin-Williams Company (SHW)
Sherwin-Williams Company is a manufacturer of paints, industrial coatings, floor coverings, stains, painting tools and supplies, etc. Some of the company’s top brands include Sherwin Williams, Valspar, Dutch Boy, HGTV Home, Minwax, Cabot, Water Seal, etc. The company retails its products through 5,100 company operated stores in the US, Canada and Latin America. The company operates in 3 segments:
- Americas Group – Operates 4,354 paint stores in the US, Canada and the Caribbean.
- Consumer Brands Group – Company operated stores in New Zealand and Australia as well as 95 manufacturing plants and distribution centers.
- Performance Coatings Group – Sells to industrial, automotive, protective and marine customers in 120 countries around the world.
For fiscal 2018, the company generated $17.53 billion in net sales, a 17% increase from 2017 when sales were $14.98 billion. The company earned gross profit of $7.4 billion, implying a gross margin of 42.2%. Net income for 2018 was $1.108 billion, implying a net profit margin of 6.3%.
Trading on the New York Stock Exchange, Sherwin-Williams Company has a market capitalization of $54.5 billion and pays a dividend yield of 0.77%. While this sounds low, the company has been growing its dividends at a stunning 15.5% annualized growth rate over the last 5 years.
- The Americas Group delivered net sales of $9.63 billion in 2018, a 5.6% growth over 2017 sales. This growth was driven by 76 new stores and introduction of 25 new products.
- The Consumer Brands Group delivered net sales of $2.74 billion in 2018, a stunning 27.1% growth over 2017.
- Performance Coatings Group delivered net sales of $5.17 billion in 2018, an excellent growth of 39.4% over 2017.
What we love about this company is its commitment to rewarding shareholders via share buybacks as well as increasing dividends. In fact, Sherwin-Williams Company has raised its dividend consecutively for the past 40 years. The company has grown dividends from $0.82 in 2005 to $4.52 payable in 2019, a stunning 550% growth over 14 years.
Over the last 10 years, Sherwin-Williams Company stock has gained 1012.7% leaving the S&P 500 in the dust. The red line below is SHW stock while the blue line is the S&P 500. At current valuations, the stock is very expensive. SHW trades at a forward price to earnings ratio of 28 times earnings.
Notice from the chart below that the stock was performing in line with the S&P 500 from 2010 to 2012 and then it started breaking out. We attribute this to the strength of the housing market. As an example, the 30 year fixed mortgage rate in the United States dropped from a high of 5.21% in April 2010 to as low as 3.3% in May 2013.
This jump started the housing market as more Americans took advantage of cheap money to borrow and renovate their homes, buy 2nd homes as well as investment properties.
According to its 2019 Investor Presentation, the median age of America’s 137 million homes is over 40 years old. As interest rates drop, more Americans will refinance their equity and do renovations on their homes, on which painting is one of the most important. This bodes well for the company’s future organic sales growth.
h) 13.4% Dividend Growth Stock: S&P Global Inc. (SPGI)
Here is a stock that is rarely mentioned in the media, although its Indexes are the most commonly used around the world. S&P Global Inc. formerly part of McGraw Hill provides ratings, benchmarks, and intelligence analytics to stocks and commodities markets around the world.
The company conducts operations in 4 business segments.
- S&P Global Ratings – Covering 27 countries, this division provides credit ratings, research and insights in to the corporate debt markets.
- S&P Global Market Intelligence – This division provides intelligence and data on global financial markets helping investors identify investment opportunities, assess risk, study valuations and track performance.
- S&P Global Platts – Global Platts is a leading provider of information and benchmark prices for the energy and commodities markets around the world with customers in more than 150 countries.
- S&P Dow Jones Indices – This division provides custom index solutions that support index fund management, portfolio analytics and research on ETFs & Mutual funds. Some of the most popular indexes in the world managed by this division include the S&P 500, S&P 400 Mid cap, S&P 600 Small Cap and S&P Total Market Indices.
For fiscal 2018, S&P Global Inc. generated $6.26 billion in revenues and earned a net income of $1.96 billion, implying a net profit margin of 31.3%.
2018 revenues grew 3% over 2017. Trading on the New York Stock Exchange, S&P Global has a market capitalization of $63.544 billion and pays a dividend yield of 0.88%. The stock has an impressive 5 year compounded dividend growth rate of 13.4%.
The biggest revenue generating businesses are:
- Ratings segment with $2.9 billion in sales
- Market Intelligence at $1.8 billion
- Platts at $815 million
- Indices at $837 million
S&P Global Inc. is a dividend aristocrat. Dividend Aristocrats are companies that have raised their dividends for at least 25 consecutive years, are included in the S&P 500 Index and have market capitalization of at least $3 billion.
The company has grown its dividend from $0.88 per share in 2008 to $2 in 2018, an excellent growth of 127% in 10 years. The company also paid a special dividend to shareholders in 2012, amounting to $2.50 per share.
What makes this dividend so much more attractive is the company’s dividend payout ratio stands at just 30%, leaving room for future growth through acquisitions and plenty of cash for repurchasing shares.
In the attached screenshot, management shows dividends paid each year from 2008 as well as net income for that year. The payout ratio is consistently below 40% in all years, except for 2012 (thanks to the one time special dividend).
Over the last 10 years, S&P Global Inc. has gained 943% versus the S&P 500 at 183%. This is a superb out performance of 760%.
S&P Global Inc. trades at 27.7 times forward earnings as measured by the forward price to earnings ratio. We do not recommend buying the stock at these levels due to elevated valuation. However, a 10% market correction would present a great entry point for long term investors.
i) 9% Dividend Growth Stock: Nike Inc. (NKE)
Nike Inc. designs, develops and sells athletic footwear, apparel, sports equipment and accessories through Nike owned retail stores and through independent distributors around the world.
Nike has 384 stores in the United States consisting of the Nike, Converse and Hurley brands. It also has 768 stores outside of the US in 45 countries.
For fiscal 2019, Nike generated $39.117 billion in revenues, a 7.5% growth over 2018 revenues of $36.4 billion. Gross profit came in $17.47 billion, implying a 44.7% gross margin while net income came in at $4.02 billion, implying a net profit margin of 10.3%.
Trading on the New York Stock Exchange, Nike has a market capitalization of $142.5 billion and pays a dividend yield of 1.07%.
Footwear and Apparel are the top revenue generating products. Footwear generated $24.222 billion in 2018 revenues while apparel brought in $11.55 billion.
Excluding currency impacts, footwear revenues rose 12% year over year while apparel rose 11%. This shows the strength, resiliency and market dominating position of Nike.
In summary from the screenshot below, footwear makes up 65% of total revenues followed by apparel at 31%.
Thanks to its market dominating brands, investors are paying an expensive valuation for Nike stock. It trades at 30.7 times forward earnings measured on price to earnings basis.
This means for every $1 Nike generates in earnings, investors are willing to pay $30.7 for the right to be a shareholder.
As a comparison, the S&P 500 trades at 17.5 times forward earnings. Therefore, Nike is trading at a 75% premium to the value of the S&P 500.
Over the last 10 years, Nike has gained 544.8% while the S&P 500 has gained 183.2%. This is a healthy out performance of 361.6%. Nike stock is in red line while the S&P 500 is in blue in the attached chart.