Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

eHealth, Inc. (EHTH)

Company Dividend Discount ModelIndustry: Insurance - BrokersSector: Financial Services

Valuation Snapshot

Stable Growth$9.99 - $13.93$11.96
Multi-Stage$13.60 - $14.94$14.26
Blended Fair Value$13.11
Current Price$4.31
Upside204.12%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.180.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.74%0.00%0.00%0.00%0.00%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)50.34
(-) Cash Dividends Paid (M)2.82
(=) Cash Retained (M)47.52
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)10.076.293.78
Cash Retained (M)47.5247.5247.52
(-) Cash Required (M)-10.07-6.29-3.78
(=) Excess Retained (M)37.4541.2343.75
(/) Shares Outstanding (M)30.4030.4030.40
(=) Excess Retained per Share1.231.361.44
LTM Dividend per Share0.090.090.09
(+) Excess Retained per Share1.231.361.44
(=) Adjusted Dividend1.321.451.53
WACC / Discount Rate11.00%11.00%11.00%
Growth Rate-2.00%-1.00%0.00%
Fair Value$9.99$11.96$13.93
Upside / Downside131.80%177.46%223.22%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)50.3449.8449.3448.8548.3647.8849.31
Payout Ratio5.60%22.48%39.36%56.24%73.12%90.00%92.50%
Projected Dividends (M)2.8211.2119.4227.4735.3643.0945.61

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate11.00%11.00%11.00%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)9.9910.1010.20
Year 2 PV (M)15.4515.7616.08
Year 3 PV (M)19.4920.0920.70
Year 4 PV (M)22.3723.3024.25
Year 5 PV (M)24.3125.5726.89
PV of Terminal Value (M)321.79338.54355.99
Equity Value (M)413.39433.36454.12
Shares Outstanding (M)30.4030.4030.40
Fair Value$13.60$14.26$14.94
Upside / Downside215.54%230.78%246.63%

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