Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

PharmaEssentia Corporation (6446.TW)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$133.40 - $213.04$169.54
Multi-Stage$349.25 - $385.41$366.97
Blended Fair Value$268.25
Current Price$515.00
Upside-47.91%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,804.49
(-) Cash Dividends Paid (M)366.17
(=) Cash Retained (M)4,438.32
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)960.90600.56360.34
Cash Retained (M)4,438.324,438.324,438.32
(-) Cash Required (M)-960.90-600.56-360.34
(=) Excess Retained (M)3,477.423,837.764,077.98
(/) Shares Outstanding (M)368.76368.76368.76
(=) Excess Retained per Share9.4310.4111.06
LTM Dividend per Share0.990.990.99
(+) Excess Retained per Share9.4310.4111.06
(=) Adjusted Dividend10.4211.4012.05
WACC / Discount Rate5.66%5.66%5.66%
Growth Rate-2.00%-1.00%0.00%
Fair Value$133.40$169.54$213.04
Upside / Downside-74.10%-67.08%-58.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,804.494,756.454,708.884,661.794,615.174,569.024,706.09
Payout Ratio7.62%24.10%40.57%57.05%73.52%90.00%92.50%
Projected Dividends (M)366.171,146.171,910.532,659.493,393.274,112.124,353.14

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.66%5.66%5.66%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)1,073.841,084.801,095.76
Year 2 PV (M)1,677.021,711.421,746.17
Year 3 PV (M)2,187.132,254.772,323.79
Year 4 PV (M)2,614.502,722.862,834.55
Year 5 PV (M)2,968.443,123.013,283.96
PV of Terminal Value (M)118,268.70124,427.23130,839.67
Equity Value (M)128,789.64135,324.09142,123.91
Shares Outstanding (M)368.76368.76368.76
Fair Value$349.25$366.97$385.41
Upside / Downside-32.18%-28.74%-25.16%

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