Discounted Cash Flow (DCF) Analysis Levered

Haemonetics Corporation (HAE)

$73.74

-0.57 (-0.77%)
All numbers are in Millions, Currency in USD
Stock DCF: 61.06 | 73.74 | overvalue

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 903.92967.58988.48870.46993.201,021.411,050.421,080.261,110.951,142.51
Revenue (%)
Operating Cash Flow 220.35159.28158.22108.81172.26177.09182.12187.29192.61198.09
Operating Cash Flow (%)
Capital Expenditure -74.80-118.96-48.76-37.04-96.51-80.64-82.93-85.29-87.71-90.20
Capital Expenditure (%)
Free Cash Flow 145.5540.32109.4671.7675.7596.4599.19102.01104.91107.89

Weighted Average Cost Of Capital

Share price $ 73.74
Beta 0.357
Diluted Shares Outstanding 51.35
Cost of Debt
Tax Rate 31.83
After-tax Cost of Debt 1.49%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.381
Total Debt 780.78
Total Equity 3,786.77
Total Capital 4,567.56
Debt Weighting 17.09
Equity Weighting 82.91
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 903.92967.58988.48870.46993.201,021.411,050.421,080.261,110.951,142.51
Operating Cash Flow 220.35159.28158.22108.81172.26177.09182.12187.29192.61198.09
Capital Expenditure -74.80-118.96-48.76-37.04-96.51-80.64-82.93-85.29-87.71-90.20
Free Cash Flow 145.5540.32109.4671.7675.7596.4599.19102.01104.91107.89
WACC
PV LFCF 92.1090.4588.8387.2385.67
SUM PV LFCF 444.28

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.72
Free cash flow (t + 1) 110.04
Terminal Value 4,045.73
Present Value of Terminal Value 3,212.54

Intrinsic Value

Enterprise Value 3,656.82
Net Debt 521.29
Equity Value 3,135.53
Shares Outstanding 51.35
Equity Value Per Share 61.06