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Authors
Abstract(s)
A InMode Ltd. é um dos líderes globais de soluções de tratamento médico cirúrgico
minimamente invasivas, baseadas em energia de radiofrequência. Esta insere-se na
indústria global de estética, pelo que, os seus produtos e soluções são projetados
principalmente para atender a três categorias de tratamento, compostas por contorno
facial e corporal, estética médica e saúde da mulher.
O setor de produção de soluções para cuidados de saúde estéticos é caraterizado por um
elevado investimento em investigação e desenvolvimento, tecnologia avançada e
regulamentação rigorosa. Deste modo, a certificação dos produtos por parte de entidades
reguladoras, assim como a patenteação dos produtos, têm um papel muito importante no
desenvolvimento futuro destas empresas. Os consumidores procuram constantemente
soluções menos invasivas, menos dolorosas e com efeitos mais rápidos.
A InMode apresenta um modelo de negócio que lhe proporciona resultados acima da
média do seu setor, tendo um histórico que comprova que consegue cumprir com as
espectativas de todos os stakeholders, criando ainda valor para os acionistas. Através da
análise às suas demonstrações financeiras é possível ter perceção do potencial da empresa
devido não só às suas margens de rentabilidade, mas também à constituição do seu
balanço.
Com o presente relatório é pretendido analisar e avaliar a empresa, chegando a um preço alvo para as suas ações no dia 31/12/2023 e fornecendo posteriormente uma
recomendação de investimento.
O principal método de avaliação usado foi o Método dos Fluxos de Caixa Descontados
entre 2023 e 2028, através do qual foi obtido um valor intrínseco de 45,18$ que
corresponde a uma potencial valorização de 26,6% em relação à cotação de fecho de dia
31/12/2022 (35,70$).
Ponderado pelos pressupostos considerados mais prováveis e precisos, emite-se assim
recomendação de “buy”.
InMode Ltd. is one of the global leaders in minimally invasive medical surgical treatment solutions based on radiofrequency energy. It is part of the global aesthetics industry, and its products and solutions are primarily designed to address three treatment categories, consisting of facial and body contouring, medical aesthetics, and women's health. The production sector for aesthetic healthcare solutions is characterized by high investment in research and development, advanced technology, and strict regulations. Therefore, product certification by regulatory authorities, as well as product patenting, plays a very important role in the future development of these companies. Consumers are constantly looking for less invasive, less painful solutions with faster effects. InMode has a business model that provides results above the sector average, with a track record that proves it can meet the expectations of all stakeholders, while creating value for shareholders. Through its financial statements analysis, it is possible to realize the company's potential due not only to its profitability margins, but also to its balance sheet. The purpose of this report is to analyze and evaluate the company, achieving a target price for its shares on 12/31/2023 and subsequently providing an investment recommendation. The main valuation method used was the Discounted Cash Flow Method between 2023 and 2028, which revealed an intrinsic value of 45.18$, corresponding to a potential increase in value of 26.6% in relation to the closing price on 12/31/2022 (35.70$). Based on the most probable and accurate assumptions, one issues a "buy" recommendation.
InMode Ltd. is one of the global leaders in minimally invasive medical surgical treatment solutions based on radiofrequency energy. It is part of the global aesthetics industry, and its products and solutions are primarily designed to address three treatment categories, consisting of facial and body contouring, medical aesthetics, and women's health. The production sector for aesthetic healthcare solutions is characterized by high investment in research and development, advanced technology, and strict regulations. Therefore, product certification by regulatory authorities, as well as product patenting, plays a very important role in the future development of these companies. Consumers are constantly looking for less invasive, less painful solutions with faster effects. InMode has a business model that provides results above the sector average, with a track record that proves it can meet the expectations of all stakeholders, while creating value for shareholders. Through its financial statements analysis, it is possible to realize the company's potential due not only to its profitability margins, but also to its balance sheet. The purpose of this report is to analyze and evaluate the company, achieving a target price for its shares on 12/31/2023 and subsequently providing an investment recommendation. The main valuation method used was the Discounted Cash Flow Method between 2023 and 2028, which revealed an intrinsic value of 45.18$, corresponding to a potential increase in value of 26.6% in relation to the closing price on 12/31/2022 (35.70$). Based on the most probable and accurate assumptions, one issues a "buy" recommendation.
Description
Keywords
Indústria de tratamento estético Avaliação empresarial Fluxos de caixa atualizados Investigação patrimonial Aesthetics treatment industry Equity research Business valuation Discouted cash flows