Discounted Cash Flow (DCF) Analysis Levered
Health Catalyst, Inc. (HCAT)
$10.12
+0.46 (+4.76%)
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 | 112.57 | 154.94 | 188.85 | 241.93 | 276.24 | 346.54 | 434.74 | 545.39 | 684.21 | 858.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -40.30 | -32.18 | -26.15 | -23.12 | -35.27 | -64.28 | -80.64 | -101.16 | -126.91 | -159.20 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.50 | -4.33 | -10.47 | -18.47 | -17.41 | -16.98 | -21.30 | -26.72 | -33.53 | -42.06 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -42.80 | -36.52 | -36.61 | -41.59 | -52.68 | -81.26 | -101.94 | -127.88 | -160.43 | -201.26 |
Weighted Average Cost Of Capital
| Share price | $ 10.12 |
|---|---|
| Beta | 1.300 |
| Diluted Shares Outstanding | 54.08 |
| Cost of Debt | |
| Tax Rate | 3.02 |
| After-tax Cost of Debt | 0.66% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.707 |
| Total Debt | 247.97 |
| Total Equity | 547.29 |
| Total Capital | 795.26 |
| Debt Weighting | 31.18 |
| Equity Weighting | 68.82 |
| 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 | 112.57 | 154.94 | 188.85 | 241.93 | 276.24 | 346.54 | 434.74 | 545.39 | 684.21 | 858.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -40.30 | -32.18 | -26.15 | -23.12 | -35.27 | -64.28 | -80.64 | -101.16 | -126.91 | -159.20 |
| Capital Expenditure | -2.50 | -4.33 | -10.47 | -18.47 | -17.41 | -16.98 | -21.30 | -26.72 | -33.53 | -42.06 |
| Free Cash Flow | -42.80 | -36.52 | -36.61 | -41.59 | -52.68 | -81.26 | -101.94 | -127.88 | -160.43 | -201.26 |
| WACC | ||||||||||
| PV LFCF | -75.54 | -88.10 | -102.74 | -119.82 | -139.74 | |||||
| SUM PV LFCF | -525.93 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.57 |
| Free cash flow (t + 1) | -205.29 |
| Terminal Value | -3,685.61 |
| Present Value of Terminal Value | -2,558.90 |
Intrinsic Value
| Enterprise Value | -3,084.83 |
|---|---|
| Net Debt | 131.66 |
| Equity Value | -3,216.49 |
| Shares Outstanding | 54.08 |
| Equity Value Per Share | -59.48 |