Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Hangzhou Tigermed Consulting Co., Ltd. (300347.SZ)

Company Dividend Discount ModelIndustry: Medical - Diagnostics & ResearchSector: Healthcare

Valuation Snapshot

Stable Growth$15.56 - $37.99$23.18
Multi-Stage$11.26 - $12.28$11.76
Blended Fair Value$17.47
Current Price$58.00
Upside-69.88%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS19.28%31.13%0.750.690.570.330.320.310.150.070.070.06
YoY Growth--8.86%19.89%73.10%4.77%2.00%110.01%103.13%5.46%23.58%11.98%
Dividend Yield--1.47%1.29%0.60%0.31%0.21%0.48%0.33%0.20%0.40%0.30%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)612.15
(-) Cash Dividends Paid (M)304.80
(=) Cash Retained (M)307.34
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)122.4376.5245.91
Cash Retained (M)307.34307.34307.34
(-) Cash Required (M)-122.43-76.52-45.91
(=) Excess Retained (M)184.92230.83261.43
(/) Shares Outstanding (M)859.03859.03859.03
(=) Excess Retained per Share0.220.270.30
LTM Dividend per Share0.350.350.35
(+) Excess Retained per Share0.220.270.30
(=) Adjusted Dividend0.570.620.66
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.50%6.50%7.50%
Fair Value$15.56$23.18$37.99
Upside / Downside-73.17%-60.04%-34.50%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)612.15651.94694.31739.44787.51838.70863.86
Payout Ratio49.79%57.83%65.88%73.92%81.96%90.00%92.50%
Projected Dividends (M)304.80377.04457.38546.58645.43754.83799.07

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.37%9.37%9.37%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)341.52344.75347.99
Year 2 PV (M)375.25382.40389.62
Year 3 PV (M)406.18417.84429.72
Year 4 PV (M)434.45451.16468.35
Year 5 PV (M)460.22482.45505.53
PV of Terminal Value (M)7,653.848,023.528,407.36
Equity Value (M)9,671.4610,102.1310,548.56
Shares Outstanding (M)859.03859.03859.03
Fair Value$11.26$11.76$12.28
Upside / Downside-80.59%-79.72%-78.83%

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