Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Ladprao General Hospital Public Company Limited (LPH.BK)

Company Dividend Discount ModelIndustry: Medical - Care FacilitiesSector: Healthcare

Valuation Snapshot

Stable Growth$10.04 - $45.96$22.86
Multi-Stage$5.46 - $5.96$5.70
Blended Fair Value$14.28
Current Price$3.96
Upside260.61%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-0.58%7.30%0.170.160.250.300.100.170.200.310.160.05
YoY Growth--6.25%-36.00%-16.67%200.00%-42.86%-13.73%-35.09%100.00%240.91%-45.45%
Dividend Yield--4.50%3.36%4.50%5.22%2.02%5.68%3.72%4.50%1.67%0.64%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)166.40
(-) Cash Dividends Paid (M)129.60
(=) Cash Retained (M)36.80
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)33.2820.8012.48
Cash Retained (M)36.8036.8036.80
(-) Cash Required (M)-33.28-20.80-12.48
(=) Excess Retained (M)3.5216.0024.32
(/) Shares Outstanding (M)720.00720.00720.00
(=) Excess Retained per Share0.000.020.03
LTM Dividend per Share0.180.180.18
(+) Excess Retained per Share0.000.020.03
(=) Adjusted Dividend0.180.200.21
WACC / Discount Rate7.44%7.44%7.44%
Growth Rate5.50%6.50%7.50%
Fair Value$10.04$22.86$45.96
Upside / Downside153.62%477.25%1,060.63%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)166.40177.21188.73201.00214.06227.98234.82
Payout Ratio77.89%80.31%82.73%85.15%87.58%90.00%92.50%
Projected Dividends (M)129.60142.32156.14171.16187.47205.18217.21

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.44%7.44%7.44%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)131.22132.46133.70
Year 2 PV (M)132.73135.26137.81
Year 3 PV (M)134.15138.00141.92
Year 4 PV (M)135.47140.68146.04
Year 5 PV (M)136.70143.30150.16
PV of Terminal Value (M)3,257.773,415.123,578.50
Equity Value (M)3,928.044,104.834,288.13
Shares Outstanding (M)720.00720.00720.00
Fair Value$5.46$5.70$5.96
Upside / Downside37.77%43.97%50.40%

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