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$82.34 - $167.88$115.24
Multi-Stage$81.09 - $88.43$84.69
Blended Fair Value$99.97
Current Price$70.00
Upside42.81%
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 Rate8.69%8.69%8.69%
Growth Rate3.95%4.95%5.95%
Fair Value$82.34$115.24$167.88
Upside / Downside17.63%64.63%139.82%

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 Rate8.69%8.69%8.69%
Growth Rate3.95%4.95%5.95%
Year 1 PV (M)145.43146.83148.22
Year 2 PV (M)140.38143.09145.83
Year 3 PV (M)135.49139.44143.46
Year 4 PV (M)130.76135.87141.12
Year 5 PV (M)126.19132.38138.81
PV of Terminal Value (M)2,349.412,464.612,584.29
Equity Value (M)3,027.663,162.223,301.74
Shares Outstanding (M)37.3437.3437.34
Fair Value$81.09$84.69$88.43
Upside / Downside15.84%20.99%26.33%

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