ICUI
ICU Medical, Inc.
$157.26
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 897.1% above fair value
You pay
$157.26
Bear
$12.62
Fair
$15.77
Bull
$18.93
Bear
$12.62
-92.0%
$0.88 × 14x P/E
Fair
$15.77
-90.0%
$0.88 × 18x P/E
Bull
$18.93
-88.0%
$0.88 × 22x P/E
Adjust Assumptions
17.9x
0.88$
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
178.7x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (12 analysts)
$186.40
Divergence from AlphaVal
92%
Summary
Applying a 18x P/E to adjusted EPS of $0.88, the base-case value is $15.77 per share.
Warnings
The company's reported profits differ from official accounting profits by 2893%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $186.40 (from 12 analysts). Our estimate is 92% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples