Discounted Cash Flow (DCF) Analysis Levered
Addus HomeCare Corporation (ADUS)
$82.67
-0.18 (-0.22%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 518.12 | 648.79 | 764.77 | 864.50 | 951.12 | 1,108.43 | 1,291.75 | 1,505.40 | 1,754.38 | 2,044.54 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 33.20 | 12.02 | 109.41 | 39.49 | 105.11 | 84.65 | 98.65 | 114.97 | 133.99 | 156.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.35 | -4.62 | -6.83 | -4.64 | -8.30 | -8.97 | -10.46 | -12.19 | -14.20 | -16.55 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 27.85 | 7.40 | 102.58 | 34.84 | 96.81 | 75.68 | 88.20 | 102.78 | 119.78 | 139.59 |
Weighted Average Cost Of Capital
| Share price | $ 82.67 |
|---|---|
| Beta | 0.858 |
| Diluted Shares Outstanding | 16.18 |
| Cost of Debt | |
| Tax Rate | 23.51 |
| After-tax Cost of Debt | 3.68% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.786 |
| Total Debt | 178.05 |
| Total Equity | 1,337.68 |
| Total Capital | 1,515.74 |
| Debt Weighting | 11.75 |
| Equity Weighting | 88.25 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 518.12 | 648.79 | 764.77 | 864.50 | 951.12 | 1,108.43 | 1,291.75 | 1,505.40 | 1,754.38 | 2,044.54 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 33.20 | 12.02 | 109.41 | 39.49 | 105.11 | 84.65 | 98.65 | 114.97 | 133.99 | 156.15 |
| Capital Expenditure | -5.35 | -4.62 | -6.83 | -4.64 | -8.30 | -8.97 | -10.46 | -12.19 | -14.20 | -16.55 |
| Free Cash Flow | 27.85 | 7.40 | 102.58 | 34.84 | 96.81 | 75.68 | 88.20 | 102.78 | 119.78 | 139.59 |
| WACC | ||||||||||
| PV LFCF | 69.95 | 75.35 | 81.16 | 87.43 | 94.17 | |||||
| SUM PV LFCF | 408.07 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.19 |
| Free cash flow (t + 1) | 142.39 |
| Terminal Value | 2,300.26 |
| Present Value of Terminal Value | 1,551.82 |
Intrinsic Value
| Enterprise Value | 1,959.89 |
|---|---|
| Net Debt | 98.09 |
| Equity Value | 1,861.80 |
| Shares Outstanding | 16.18 |
| Equity Value Per Share | 115.06 |