Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Dynamic Medical Technologies Inc. (4138.TWO)

Company Dividend Discount ModelIndustry: Medical - SpecialtiesSector: Healthcare

Valuation Snapshot

Stable Growth$5.54 - $6.71$6.20
Multi-Stage$6.08 - $6.35$6.22
Blended Fair Value$6.21
Current Price$70.00
Upside-91.13%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS18.71%0.00%5.972.532.972.812.692.532.732.862.920.00
YoY Growth--135.71%-14.86%5.71%4.48%6.35%-7.35%-4.49%-1.93%0.00%0.00%
Dividend Yield--7.23%2.23%5.34%6.58%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)175.23
(-) Cash Dividends Paid (M)150.65
(=) Cash Retained (M)24.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)35.0521.9013.14
Cash Retained (M)24.5924.5924.59
(-) Cash Required (M)-35.05-21.90-13.14
(=) Excess Retained (M)-10.462.6811.44
(/) Shares Outstanding (M)37.3437.3437.34
(=) Excess Retained per Share-0.280.070.31
LTM Dividend per Share4.034.034.03
(+) Excess Retained per Share-0.280.070.31
(=) Adjusted Dividend3.754.114.34
WACC / Discount Rate74.45%74.45%74.45%
Growth Rate3.95%4.95%5.95%
Fair Value$5.54$6.20$6.71
Upside / Downside-92.09%-91.14%-90.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)175.23183.90193.00202.54212.56223.07229.77
Payout Ratio85.97%86.78%87.58%88.39%89.19%90.00%92.50%
Projected Dividends (M)150.65159.58169.03179.02189.59200.77212.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate74.45%74.45%74.45%
Growth Rate3.95%4.95%5.95%
Year 1 PV (M)90.6191.4892.35
Year 2 PV (M)54.4955.5456.61
Year 3 PV (M)32.7733.7234.70
Year 4 PV (M)19.7020.4721.26
Year 5 PV (M)11.8512.4313.03
PV of Terminal Value (M)17.5518.4119.31
Equity Value (M)226.97232.06237.26
Shares Outstanding (M)37.3437.3437.34
Fair Value$6.08$6.22$6.35
Upside / Downside-91.32%-91.12%-90.92%

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