Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

I-Tech AB (ITECH.ST)

Company Dividend Discount ModelIndustry: BiotechnologySector: Healthcare

Valuation Snapshot

Stable Growth$24.15 - $34.70$29.31
Multi-Stage$40.08 - $43.94$41.98
Blended Fair Value$35.64
Current Price$94.60
Upside-62.32%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%1.500.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.77%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)41.11
(-) Cash Dividends Paid (M)20.84
(=) Cash Retained (M)20.27
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.225.143.08
Cash Retained (M)20.2720.2720.27
(-) Cash Required (M)-8.22-5.14-3.08
(=) Excess Retained (M)12.0515.1317.19
(/) Shares Outstanding (M)11.9411.9411.94
(=) Excess Retained per Share1.011.271.44
LTM Dividend per Share1.751.751.75
(+) Excess Retained per Share1.011.271.44
(=) Adjusted Dividend2.763.013.19
WACC / Discount Rate9.18%9.18%9.18%
Growth Rate-2.00%-1.00%0.00%
Fair Value$24.15$29.31$34.70
Upside / Downside-74.47%-69.02%-63.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41.1140.7040.2939.8939.4939.1040.27
Payout Ratio50.69%58.55%66.42%74.28%82.14%90.00%92.50%
Projected Dividends (M)20.8423.8326.7629.6332.4435.1937.25

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.18%9.18%9.18%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)21.6121.8322.05
Year 2 PV (M)22.0022.4522.90
Year 3 PV (M)22.0822.7723.46
Year 4 PV (M)21.9222.8323.76
Year 5 PV (M)21.5622.6823.85
PV of Terminal Value (M)369.22388.45408.47
Equity Value (M)478.38500.99524.49
Shares Outstanding (M)11.9411.9411.94
Fair Value$40.08$41.98$43.94
Upside / Downside-57.63%-55.63%-53.55%

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