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biote Corp. (BTMD)

Company Dividend Discount ModelIndustry: Medical - Care FacilitiesSector: Healthcare

Valuation Snapshot

Stable Growth$5.50 - $7.92$6.68
Multi-Stage$8.62 - $9.49$9.04
Blended Fair Value$7.86
Current Price$3.00
Upside162.07%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS-39.10%0.00%0.130.240.350.310.361.530.000.000.000.00
YoY Growth---45.43%-32.53%13.02%-14.39%-76.48%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.85%4.11%5.63%3.12%3.58%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)28.79
(-) Cash Dividends Paid (M)1.68
(=) Cash Retained (M)27.12
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.763.602.16
Cash Retained (M)27.1227.1227.12
(-) Cash Required (M)-5.76-3.60-2.16
(=) Excess Retained (M)21.3623.5224.96
(/) Shares Outstanding (M)36.9836.9836.98
(=) Excess Retained per Share0.580.640.67
LTM Dividend per Share0.050.050.05
(+) Excess Retained per Share0.580.640.67
(=) Adjusted Dividend0.620.680.72
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$5.50$6.68$7.92
Upside / Downside83.36%122.66%163.90%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)28.7928.5128.2227.9427.6627.3828.20
Payout Ratio5.82%22.66%39.49%56.33%73.16%90.00%92.50%
Projected Dividends (M)1.686.4611.1515.7420.2424.6426.09

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)5.865.925.98
Year 2 PV (M)9.189.369.55
Year 3 PV (M)11.7612.1212.49
Year 4 PV (M)13.7214.2814.87
Year 5 PV (M)15.1615.9516.77
PV of Terminal Value (M)263.11276.81291.08
Equity Value (M)318.78334.45350.74
Shares Outstanding (M)36.9836.9836.98
Fair Value$8.62$9.04$9.49
Upside / Downside187.36%201.49%216.17%

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