ICUI
ICU Medical, Inc.
$133.31
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 47.6% above fair value
You pay
$133.31
Bear
$72.28
Fair
$90.35
Bull
$108.42
Bear
$72.28
-45.8%
$4.02 × 14x P/E
Fair
$90.35
-32.2%
$4.02 × 18x P/E
Bull
$108.42
-18.7%
$4.02 × 22x P/E
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
33.2x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $163.50 from 11 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $90.35 per share.
Warnings
The company's reported profits differ from official accounting profits by 13573%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $163.50 (from 11 analysts). Our estimate is 56% 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