Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Hypera S.A. (HYPE3.SA)

Company Dividend Discount ModelIndustry: Drug Manufacturers - Specialty & GenericSector: Healthcare

Valuation Snapshot

Stable Growth$27.08 - $63.41$39.78
Multi-Stage$20.81 - $22.64$21.71
Blended Fair Value$30.74
Current Price$22.73
Upside35.25%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.78%0.00%1.231.191.261.171.070.980.990.640.500.00
YoY Growth--3.61%-5.75%8.08%9.30%9.47%-1.51%54.45%29.65%0.00%0.00%
Dividend Yield--6.37%3.68%3.34%3.00%3.30%3.36%3.67%1.75%1.71%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)823.94
(-) Cash Dividends Paid (M)732.03
(=) Cash Retained (M)91.91
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)164.79102.9961.80
Cash Retained (M)91.9191.9191.91
(-) Cash Required (M)-164.79-102.99-61.80
(=) Excess Retained (M)-72.88-11.0830.11
(/) Shares Outstanding (M)638.18638.18638.18
(=) Excess Retained per Share-0.11-0.020.05
LTM Dividend per Share1.151.151.15
(+) Excess Retained per Share-0.11-0.020.05
(=) Adjusted Dividend1.031.131.19
WACC / Discount Rate9.52%9.52%9.52%
Growth Rate5.50%6.50%7.50%
Fair Value$27.08$39.78$63.41
Upside / Downside19.12%75.00%178.98%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)823.94877.49934.53995.281,059.971,128.871,162.73
Payout Ratio88.85%89.08%89.31%89.54%89.77%90.00%92.50%
Projected Dividends (M)732.03781.64834.60891.15951.521,015.981,075.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.52%9.52%9.52%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)706.96713.66720.37
Year 2 PV (M)682.75695.76708.88
Year 3 PV (M)659.36678.29697.58
Year 4 PV (M)636.77661.26686.45
Year 5 PV (M)614.95644.65675.49
PV of Terminal Value (M)9,977.6010,459.5210,959.89
Equity Value (M)13,278.4113,853.1514,448.66
Shares Outstanding (M)638.18638.18638.18
Fair Value$20.81$21.71$22.64
Upside / Downside-8.46%-4.50%-0.39%

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