Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Humming Bird Education Limited (HBEL.BO)

Company Dividend Discount ModelIndustry: Specialty Business ServicesSector: Industrials

Valuation Snapshot

Stable Growth$29.20 - $64.12$41.97
Multi-Stage$21.57 - $23.54$22.54
Blended Fair Value$32.25
Current Price$92.00
Upside-64.94%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.000.550.000.000.110.000.000.000.000.00
YoY Growth---100.00%0.00%0.00%-100.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%1.37%0.00%0.00%1.06%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)5.03
(-) Cash Dividends Paid (M)1.84
(=) Cash Retained (M)3.19
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.010.630.38
Cash Retained (M)3.193.193.19
(-) Cash Required (M)-1.01-0.63-0.38
(=) Excess Retained (M)2.192.572.82
(/) Shares Outstanding (M)3.373.373.37
(=) Excess Retained per Share0.650.760.84
LTM Dividend per Share0.550.550.55
(+) Excess Retained per Share0.650.760.84
(=) Adjusted Dividend1.191.311.38
WACC / Discount Rate9.82%9.82%9.82%
Growth Rate5.50%6.50%7.50%
Fair Value$29.20$41.97$64.12
Upside / Downside-68.26%-54.39%-30.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)5.035.365.716.086.486.907.10
Payout Ratio36.54%47.23%57.92%68.61%79.31%90.00%92.50%
Projected Dividends (M)1.842.533.314.175.146.216.57

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.82%9.82%9.82%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)2.282.312.33
Year 2 PV (M)2.692.742.79
Year 3 PV (M)3.063.153.24
Year 4 PV (M)3.403.533.67
Year 5 PV (M)3.713.894.07
PV of Terminal Value (M)57.5860.3763.25
Equity Value (M)72.7375.9879.35
Shares Outstanding (M)3.373.373.37
Fair Value$21.57$22.54$23.54
Upside / Downside-76.55%-75.50%-74.42%

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