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Tecan Group AG (0QLN.L)

Company Dividend Discount ModelIndustry: Medical - PharmaceuticalsSector: Healthcare

Valuation Snapshot

Stable Growth$983.38 - $2,558.08$2,397.30
Multi-Stage$367.92 - $402.53$384.91
Blended Fair Value$1,391.10
Current Price$161.80
Upside759.77%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS9.06%8.69%3.002.902.782.162.051.941.831.591.571.32
YoY Growth--3.50%4.01%28.92%5.22%5.67%5.85%15.49%0.96%19.37%1.24%
Dividend Yield--1.48%0.84%0.68%0.39%0.47%0.71%1.00%0.78%0.99%0.81%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)164.46
(-) Cash Dividends Paid (M)76.35
(=) Cash Retained (M)88.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)32.8920.5612.33
Cash Retained (M)88.1288.1288.12
(-) Cash Required (M)-32.89-20.56-12.33
(=) Excess Retained (M)55.2367.5675.78
(/) Shares Outstanding (M)12.7912.7912.79
(=) Excess Retained per Share4.325.285.93
LTM Dividend per Share5.975.975.97
(+) Excess Retained per Share4.325.285.93
(=) Adjusted Dividend10.2911.2511.90
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate5.50%6.50%7.50%
Fair Value$983.38$2,397.30$2,558.08
Upside / Downside507.77%1,381.64%1,481.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)164.46175.15186.54198.66211.58225.33232.09
Payout Ratio46.42%55.14%63.85%72.57%81.28%90.00%92.50%
Projected Dividends (M)76.3596.57119.11144.17171.98202.80214.68

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.60%6.60%6.60%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)89.7490.5991.44
Year 2 PV (M)102.85104.81106.79
Year 3 PV (M)115.68119.00122.38
Year 4 PV (M)128.23133.16138.23
Year 5 PV (M)140.51147.30154.34
PV of Terminal Value (M)4,127.284,326.634,533.61
Equity Value (M)4,704.294,921.495,146.80
Shares Outstanding (M)12.7912.7912.79
Fair Value$367.92$384.91$402.53
Upside / Downside127.39%137.89%148.78%

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