Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Procter & Gamble Hygiene and Health Care Limited (PGHH.BO)

Company Dividend Discount ModelIndustry: Household & Personal ProductsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$6,567.61 - $26,446.55$11,220.05
Multi-Stage$4,195.41 - $4,580.87$4,384.65
Blended Fair Value$7,802.35
Current Price$14,145.00
Upside-44.84%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS28.79%22.25%205.00265.00145.00175.00340.0157.8796.4532.50479.0430.25
YoY Growth---22.64%82.76%-17.14%-48.53%487.56%-40.00%196.81%-93.22%1,483.64%9.99%
Dividend Yield--1.45%1.59%0.81%1.26%2.42%0.58%0.80%0.34%5.66%0.44%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)7,141.20
(-) Cash Dividends Paid (M)3,570.80
(=) Cash Retained (M)3,570.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,428.24892.65535.59
Cash Retained (M)3,570.403,570.403,570.40
(-) Cash Required (M)-1,428.24-892.65-535.59
(=) Excess Retained (M)2,142.162,677.753,034.81
(/) Shares Outstanding (M)32.4632.4632.46
(=) Excess Retained per Share65.9982.4993.49
LTM Dividend per Share110.00110.00110.00
(+) Excess Retained per Share65.9982.4993.49
(=) Adjusted Dividend176.00192.50203.50
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Fair Value$6,567.61$11,220.05$26,446.55
Upside / Downside-53.57%-20.68%86.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7,141.207,605.388,099.738,626.219,186.919,784.0610,077.58
Payout Ratio50.00%58.00%66.00%74.00%82.00%90.00%92.50%
Projected Dividends (M)3,570.804,411.295,345.966,383.497,533.328,805.669,321.77

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.33%8.33%8.33%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)4,033.954,072.194,110.43
Year 2 PV (M)4,470.504,555.654,641.61
Year 3 PV (M)4,881.515,021.655,164.43
Year 4 PV (M)5,268.035,470.625,679.00
Year 5 PV (M)5,631.045,903.026,185.42
PV of Terminal Value (M)111,899.49117,304.27122,915.91
Equity Value (M)136,184.53142,327.41148,696.80
Shares Outstanding (M)32.4632.4632.46
Fair Value$4,195.41$4,384.65$4,580.87
Upside / Downside-70.34%-69.00%-67.61%

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