Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Business Alignment Public Company Limited (BIZ.BK)

Company Dividend Discount ModelIndustry: Medical - DevicesSector: Healthcare

Valuation Snapshot

Stable Growth$14.91 - $46.90$23.96
Multi-Stage$10.19 - $11.12$10.65
Blended Fair Value$17.30
Current Price$3.84
Upside350.58%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS23.01%0.00%0.310.210.300.280.170.110.060.070.370.00
YoY Growth--50.00%-29.77%6.94%60.05%56.18%100.00%-20.00%-81.40%0.00%0.00%
Dividend Yield--9.55%6.14%7.31%4.14%6.32%6.01%2.86%3.18%12.22%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)327.24
(-) Cash Dividends Paid (M)210.25
(=) Cash Retained (M)116.99
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)65.4540.9024.54
Cash Retained (M)116.99116.99116.99
(-) Cash Required (M)-65.45-40.90-24.54
(=) Excess Retained (M)51.5476.0892.44
(/) Shares Outstanding (M)578.97578.97578.97
(=) Excess Retained per Share0.090.130.16
LTM Dividend per Share0.360.360.36
(+) Excess Retained per Share0.090.130.16
(=) Adjusted Dividend0.450.490.52
WACC / Discount Rate8.70%8.70%8.70%
Growth Rate5.50%6.50%7.50%
Fair Value$14.91$23.96$46.90
Upside / Downside288.41%523.92%1,121.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)327.24348.51371.16395.29420.98448.35461.80
Payout Ratio64.25%69.40%74.55%79.70%84.85%90.00%92.50%
Projected Dividends (M)210.25241.87276.70315.05357.20403.51427.16

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.70%8.70%8.70%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)220.42222.51224.60
Year 2 PV (M)229.81234.19238.61
Year 3 PV (M)238.46245.30252.28
Year 4 PV (M)246.40255.87265.62
Year 5 PV (M)253.66265.91278.63
PV of Terminal Value (M)4,712.364,939.975,176.29
Equity Value (M)5,901.116,163.766,436.03
Shares Outstanding (M)578.97578.97578.97
Fair Value$10.19$10.65$11.12
Upside / Downside165.43%177.24%189.49%

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