Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

SKAN Group AG (SKAN.SW)

Company Dividend Discount ModelIndustry: Medical - Instruments & SuppliesSector: Healthcare

Valuation Snapshot

Stable Growth$50.23 - $132.34$76.65
Multi-Stage$34.55 - $37.74$36.12
Blended Fair Value$56.38
Current Price$71.60
Upside-21.25%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%22.36%0.350.250.240.470.000.000.000.000.000.60
YoY Growth--39.99%4.17%-49.18%0.00%0.00%0.00%0.00%0.00%-100.00%1,200.26%
Dividend Yield--0.46%0.31%0.38%0.53%0.00%0.00%0.00%0.00%0.00%0.80%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)48.41
(-) Cash Dividends Paid (M)12.93
(=) Cash Retained (M)35.48
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.686.053.63
Cash Retained (M)35.4835.4835.48
(-) Cash Required (M)-9.68-6.05-3.63
(=) Excess Retained (M)25.8029.4331.85
(/) Shares Outstanding (M)22.4822.4822.48
(=) Excess Retained per Share1.151.311.42
LTM Dividend per Share0.570.570.57
(+) Excess Retained per Share1.151.311.42
(=) Adjusted Dividend1.721.881.99
WACC / Discount Rate9.12%9.12%9.12%
Growth Rate5.50%6.50%7.50%
Fair Value$50.23$76.65$132.34
Upside / Downside-29.84%7.05%84.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)48.4151.5654.9158.4862.2866.3368.32
Payout Ratio26.70%39.36%52.02%64.68%77.34%90.00%92.50%
Projected Dividends (M)12.9320.2928.5737.8348.1759.7063.19

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.12%9.12%9.12%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)18.4218.6018.77
Year 2 PV (M)23.5423.9924.44
Year 3 PV (M)28.3029.1129.94
Year 4 PV (M)32.7233.9835.27
Year 5 PV (M)36.8138.5940.44
PV of Terminal Value (M)636.96667.73699.67
Equity Value (M)776.76812.00848.54
Shares Outstanding (M)22.4822.4822.48
Fair Value$34.55$36.12$37.74
Upside / Downside-51.75%-49.56%-47.29%

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