Discounted Cash Flow (DCF) Analysis Levered

Hologic, Inc. (HOLX)

$84.31

-0.37 (-0.44%)
All numbers are in Millions, Currency in USD
Stock DCF: 143.96 | 84.31 | undervalue

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 3,217.903,367.303,776.405,632.304,862.805,498.306,216.857,029.317,947.948,986.62
Revenue (%)
Operating Cash Flow 732.90649.50896.602,330.402,125.701,659.341,876.192,121.382,398.622,712.08
Operating Cash Flow (%)
Capital Expenditure -105.60-113.60-156.40-162.70-127.20-179.26-202.68-229.17-259.12-292.99
Capital Expenditure (%)
Free Cash Flow 627.30535.90740.202,167.701,998.501,480.081,673.501,892.212,139.492,419.10

Weighted Average Cost Of Capital

Share price $ 84.31
Beta 1.021
Diluted Shares Outstanding 253.84
Cost of Debt
Tax Rate 18.02
After-tax Cost of Debt 2.67%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.438
Total Debt 2,921.60
Total Equity 21,401.67
Total Capital 24,323.27
Debt Weighting 12.01
Equity Weighting 87.99
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 3,217.903,367.303,776.405,632.304,862.805,498.306,216.857,029.317,947.948,986.62
Operating Cash Flow 732.90649.50896.602,330.402,125.701,659.341,876.192,121.382,398.622,712.08
Capital Expenditure -105.60-113.60-156.40-162.70-127.20-179.26-202.68-229.17-259.12-292.99
Free Cash Flow 627.30535.90740.202,167.701,998.501,480.081,673.501,892.212,139.492,419.10
WACC
PV LFCF 945.76992.441,041.431,092.841,146.78
SUM PV LFCF 7,580.45

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.75
Free cash flow (t + 1) 2,467.48
Terminal Value 42,912.65
Present Value of Terminal Value 29,546.01

Intrinsic Value

Enterprise Value 37,126.46
Net Debt 582.10
Equity Value 36,544.36
Shares Outstanding 253.84
Equity Value Per Share 143.96