Discounted Cash Flow (DCF) Analysis Levered

Hologic, Inc. (HOLX)

$75.26

+0.68 (+0.91%)
All numbers are in Millions, Currency in USD
Stock DCF: 105.56 | 75.26 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 3,367.303,776.405,632.304,862.804,030.404,337.864,668.775,024.935,408.255,820.82
Revenue (%)
Operating Cash Flow 649.50896.602,330.402,125.701,051.201,337.811,439.861,549.701,667.921,795.16
Operating Cash Flow (%)
Capital Expenditure -113.60-156.40-162.70-127.20-150.20-145.29-156.37-168.30-181.14-194.95
Capital Expenditure (%)
Free Cash Flow 535.90740.202,167.701,998.509011,192.521,283.491,381.411,486.791,600.20

Weighted Average Cost Of Capital

Share price $ 75.26
Beta 1.018
Diluted Shares Outstanding 248.83
Cost of Debt
Tax Rate 32.55
After-tax Cost of Debt 2.90%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.104
Total Debt 2,818.20
Total Equity 18,727.02
Total Capital 21,545.22
Debt Weighting 13.08
Equity Weighting 86.92
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 3,367.303,776.405,632.304,862.804,030.404,337.864,668.775,024.935,408.255,820.82
Operating Cash Flow 649.50896.602,330.402,125.701,051.201,337.811,439.861,549.701,667.921,795.16
Capital Expenditure -113.60-156.40-162.70-127.20-150.20-145.29-156.37-168.30-181.14-194.95
Free Cash Flow 535.90740.202,167.701,998.509011,192.521,283.491,381.411,486.791,600.20
WACC
PV LFCF 1,101.231,094.501,087.821,081.171,074.57
SUM PV LFCF 5,439.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.29
Free cash flow (t + 1) 1,648.21
Terminal Value 31,157.10
Present Value of Terminal Value 20,922.58

Intrinsic Value

Enterprise Value 26,361.87
Net Debt 95.70
Equity Value 26,266.17
Shares Outstanding 248.83
Equity Value Per Share 105.56