Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Agilent Technologies, Inc. (A)

Company Dividend Discount ModelIndustry: Medical - Diagnostics & ResearchSector: Healthcare

Valuation Snapshot

Stable Growth$67.13 - $122.60$90.11
Multi-Stage$65.67 - $71.86$68.71
Blended Fair Value$79.41
Current Price$146.36
Upside-45.74%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS4.90%7.81%0.990.960.930.880.830.780.720.670.600.53
YoY Growth--2.92%3.40%6.00%5.93%6.31%7.77%7.85%12.35%13.33%12.78%
Dividend Yield--0.68%0.63%0.71%0.58%0.59%0.64%0.87%0.88%0.81%1.07%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,303.00
(-) Cash Dividends Paid (M)282.00
(=) Cash Retained (M)1,021.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)260.60162.8897.73
Cash Retained (M)1,021.001,021.001,021.00
(-) Cash Required (M)-260.60-162.88-97.73
(=) Excess Retained (M)760.40858.13923.28
(/) Shares Outstanding (M)285.25285.25285.25
(=) Excess Retained per Share2.673.013.24
LTM Dividend per Share0.990.990.99
(+) Excess Retained per Share2.673.013.24
(=) Adjusted Dividend3.654.004.23
WACC / Discount Rate9.22%9.22%9.22%
Growth Rate3.58%4.58%5.58%
Fair Value$67.13$90.11$122.60
Upside / Downside-54.14%-38.43%-16.23%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,303.001,362.641,425.011,490.231,558.441,629.771,678.66
Payout Ratio21.64%35.31%48.99%62.66%76.33%90.00%92.50%
Projected Dividends (M)282.00481.20698.05933.731,189.531,466.791,552.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.22%9.22%9.22%
Growth Rate3.58%4.58%5.58%
Year 1 PV (M)436.38440.60444.81
Year 2 PV (M)574.07585.21596.46
Year 3 PV (M)696.38716.75737.51
Year 4 PV (M)804.53836.06868.50
Year 5 PV (M)899.66943.94989.94
PV of Terminal Value (M)15,322.3916,076.4716,859.96
Equity Value (M)18,733.4219,599.0220,497.17
Shares Outstanding (M)285.25285.25285.25
Fair Value$65.67$68.71$71.86
Upside / Downside-55.13%-53.06%-50.90%

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