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$10.25 - $14.36$12.29
Multi-Stage$14.25 - $15.66$14.94
Blended Fair Value$13.62
Current Price$4.31
Upside215.92%
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 Rate10.67%10.67%10.67%
Growth Rate-2.00%-1.00%0.00%
Fair Value$10.25$12.29$14.36
Upside / Downside137.80%185.26%233.16%

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 Rate10.67%10.67%10.67%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)10.0210.1310.23
Year 2 PV (M)15.5415.8616.18
Year 3 PV (M)19.6620.2720.89
Year 4 PV (M)22.6323.5724.54
Year 5 PV (M)24.6725.9627.29
PV of Terminal Value (M)340.55358.28376.75
Equity Value (M)433.08454.06475.87
Shares Outstanding (M)30.4030.4030.40
Fair Value$14.25$14.94$15.66
Upside / Downside230.56%246.58%263.23%

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