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Viveon Health Acquisition Corp. (VHAQ-UN)

Company Dividend Discount ModelIndustry: Shell CompaniesSector: Financial Services

Valuation Snapshot

Stable Growth$1.01 - $1.46$1.23
Multi-Stage$1.62 - $1.78$1.70
Blended Fair Value$1.46
Current Price$10.95
Upside-86.63%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202220212020
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)1.30
(-) Cash Dividends Paid (M)0.23
(=) Cash Retained (M)1.07
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.260.160.10
Cash Retained (M)1.071.071.07
(-) Cash Required (M)-0.26-0.16-0.10
(=) Excess Retained (M)0.810.910.98
(/) Shares Outstanding (M)9.059.059.05
(=) Excess Retained per Share0.090.100.11
LTM Dividend per Share0.020.020.02
(+) Excess Retained per Share0.090.100.11
(=) Adjusted Dividend0.110.130.13
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.01$1.23$1.46
Upside / Downside-90.73%-88.75%-86.67%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1.301.291.271.261.251.241.27
Payout Ratio17.38%31.90%46.43%60.95%75.48%90.00%92.50%
Projected Dividends (M)0.230.410.590.770.941.111.18

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)0.370.380.38
Year 2 PV (M)0.490.500.51
Year 3 PV (M)0.570.590.61
Year 4 PV (M)0.640.670.69
Year 5 PV (M)0.680.720.76
PV of Terminal Value (M)11.8812.5013.14
Equity Value (M)14.6415.3516.09
Shares Outstanding (M)9.059.059.05
Fair Value$1.62$1.70$1.78
Upside / Downside-85.23%-84.52%-83.77%

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