Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Tibet Rhodiola Pharmaceutical Holding Co. (600211.SS)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$62.73 - $144.08$91.56
Multi-Stage$45.39 - $49.55$47.43
Blended Fair Value$69.50
Current Price$46.70
Upside48.82%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS49.96%50.01%1.571.500.310.410.590.210.220.250.090.03
YoY Growth--4.36%391.94%-25.90%-29.84%184.13%-3.90%-12.96%187.20%185.56%10.90%
Dividend Yield--4.12%4.26%0.75%1.22%1.58%1.01%0.93%1.20%0.30%0.12%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)981.20
(-) Cash Dividends Paid (M)320.80
(=) Cash Retained (M)660.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)196.24122.6573.59
Cash Retained (M)660.40660.40660.40
(-) Cash Required (M)-196.24-122.65-73.59
(=) Excess Retained (M)464.16537.75586.81
(/) Shares Outstanding (M)321.45321.45321.45
(=) Excess Retained per Share1.441.671.83
LTM Dividend per Share1.001.001.00
(+) Excess Retained per Share1.441.671.83
(=) Adjusted Dividend2.442.672.82
WACC / Discount Rate9.61%9.61%9.61%
Growth Rate5.50%6.50%7.50%
Fair Value$62.73$91.56$144.08
Upside / Downside34.34%96.07%208.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)981.201,044.981,112.901,185.241,262.281,344.331,384.66
Payout Ratio32.69%44.16%55.62%67.08%78.54%90.00%92.50%
Projected Dividends (M)320.80461.42618.96795.03991.381,209.891,280.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.61%9.61%9.61%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)417.02420.98424.93
Year 2 PV (M)505.59515.22524.94
Year 3 PV (M)586.93603.77620.94
Year 4 PV (M)661.46686.90713.06
Year 5 PV (M)729.59764.83801.42
PV of Terminal Value (M)11,690.5812,255.2412,841.51
Equity Value (M)14,591.1715,246.9415,926.80
Shares Outstanding (M)321.45321.45321.45
Fair Value$45.39$47.43$49.55
Upside / Downside-2.80%1.57%6.10%

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