Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Vetoquinol S.A. (0O1O.L)

Company Dividend Discount ModelIndustry: Medical - PharmaceuticalsSector: Healthcare

Valuation Snapshot

Stable Growth$177.60 - $390.44$255.34
Multi-Stage$128.24 - $140.07$134.05
Blended Fair Value$194.70
Current Price$74.20
Upside162.39%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.11%8.66%0.850.800.800.500.380.480.460.430.410.39
YoY Growth--6.27%0.00%60.04%31.60%-20.87%4.11%7.00%4.90%5.04%5.57%
Dividend Yield--1.14%0.78%0.91%0.38%0.46%0.75%0.91%0.72%0.90%0.99%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)107.10
(-) Cash Dividends Paid (M)20.46
(=) Cash Retained (M)86.64
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.4213.398.03
Cash Retained (M)86.6486.6486.64
(-) Cash Required (M)-21.42-13.39-8.03
(=) Excess Retained (M)65.2273.2578.60
(/) Shares Outstanding (M)11.8111.8111.81
(=) Excess Retained per Share5.526.206.66
LTM Dividend per Share1.731.731.73
(+) Excess Retained per Share5.526.206.66
(=) Adjusted Dividend7.267.948.39
WACC / Discount Rate9.81%9.81%9.81%
Growth Rate5.50%6.50%7.50%
Fair Value$177.60$255.34$390.44
Upside / Downside139.36%244.13%426.20%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)107.10114.06121.47129.37137.78146.73151.13
Payout Ratio19.10%33.28%47.46%61.64%75.82%90.00%92.50%
Projected Dividends (M)20.4637.9657.6579.74104.46132.06139.80

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.81%9.81%9.81%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)34.2534.5734.90
Year 2 PV (M)46.9247.8148.72
Year 3 PV (M)58.5460.2361.94
Year 4 PV (M)69.1971.8574.58
Year 5 PV (M)78.9082.7186.67
PV of Terminal Value (M)1,226.551,285.791,347.30
Equity Value (M)1,514.341,582.961,654.10
Shares Outstanding (M)11.8111.8111.81
Fair Value$128.24$134.05$140.07
Upside / Downside72.82%80.65%88.77%

High-Yield Dividend Screener

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