Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Arterra Bioscience (ARBS.MI)

Company Dividend Discount ModelIndustry: BiotechnologySector: Healthcare

Valuation Snapshot

Stable Growth$9.37 - $20.26$13.39
Multi-Stage$7.15 - $7.79$7.46
Blended Fair Value$10.43
Current Price$2.42
Upside330.87%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20242023202220212020201920182017
DPS17.29%0.00%0.100.100.000.000.020.050.030.010.000.00
YoY Growth--0.00%0.00%0.00%-100.00%-62.25%50.00%300.00%0.00%0.00%0.00%
Dividend Yield--5.10%6.02%0.00%0.00%0.60%1.19%0.88%0.22%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3.25
(-) Cash Dividends Paid (M)1.85
(=) Cash Retained (M)1.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.650.410.24
Cash Retained (M)1.401.401.40
(-) Cash Required (M)-0.65-0.41-0.24
(=) Excess Retained (M)0.751.001.16
(/) Shares Outstanding (M)6.666.666.66
(=) Excess Retained per Share0.110.150.17
LTM Dividend per Share0.280.280.28
(+) Excess Retained per Share0.110.150.17
(=) Adjusted Dividend0.390.430.45
WACC / Discount Rate9.90%9.90%9.90%
Growth Rate5.50%6.50%7.50%
Fair Value$9.37$13.39$20.26
Upside / Downside287.23%453.47%737.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3.253.463.693.934.184.454.59
Payout Ratio56.80%63.44%70.08%76.72%83.36%90.00%92.50%
Projected Dividends (M)1.852.202.583.013.484.014.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.90%9.90%9.90%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1.982.002.02
Year 2 PV (M)2.102.142.18
Year 3 PV (M)2.212.272.33
Year 4 PV (M)2.302.392.48
Year 5 PV (M)2.382.502.62
PV of Terminal Value (M)36.6138.3840.21
Equity Value (M)47.5849.6751.84
Shares Outstanding (M)6.666.666.66
Fair Value$7.15$7.46$7.79
Upside / Downside195.27%208.27%221.73%

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