Discounted Cash Flow (DCF) Analysis Levered
Healthcare Realty Trust Incorporate... (HR)
$15.27
+0.21 (+1.39%)
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 | 450.39 | 470.30 | 499.63 | 534.82 | 932.64 | 1,147.34 | 1,411.47 | 1,736.40 | 2,136.14 | 2,627.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 208.36 | 213.14 | 470.09 | 232.63 | 272.75 | 592.97 | 729.48 | 897.41 | 1,104 | 1,358.16 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -70.81 | -64.67 | -93.96 | -100.69 | -163.54 | -194.22 | -238.94 | -293.94 | -361.61 | -444.86 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 137.55 | 148.47 | 376.13 | 131.94 | 109.20 | 398.74 | 490.54 | 603.47 | 742.39 | 913.30 |
Weighted Average Cost Of Capital
| Share price | $ 15.27 |
|---|---|
| Beta | 0.670 |
| Diluted Shares Outstanding | 253.87 |
| Cost of Debt | |
| Tax Rate | 360.48 |
| After-tax Cost of Debt | -6.38% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.736 |
| Total Debt | 5,704.66 |
| Total Equity | 3,876.64 |
| Total Capital | 9,581.30 |
| Debt Weighting | 59.54 |
| Equity Weighting | 40.46 |
| 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 | 450.39 | 470.30 | 499.63 | 534.82 | 932.64 | 1,147.34 | 1,411.47 | 1,736.40 | 2,136.14 | 2,627.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 208.36 | 213.14 | 470.09 | 232.63 | 272.75 | 592.97 | 729.48 | 897.41 | 1,104 | 1,358.16 |
| Capital Expenditure | -70.81 | -64.67 | -93.96 | -100.69 | -163.54 | -194.22 | -238.94 | -293.94 | -361.61 | -444.86 |
| Free Cash Flow | 137.55 | 148.47 | 376.13 | 131.94 | 109.20 | 398.74 | 490.54 | 603.47 | 742.39 | 913.30 |
| WACC | ||||||||||
| PV LFCF | 401.43 | 497.18 | 615.76 | 762.62 | 944.52 | |||||
| SUM PV LFCF | 3,221.52 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -0.67 |
| Free cash flow (t + 1) | 931.56 |
| Terminal Value | -34,890.01 |
| Present Value of Terminal Value | -36,082.69 |
Intrinsic Value
| Enterprise Value | -32,861.17 |
|---|---|
| Net Debt | 5,643.70 |
| Equity Value | -38,504.87 |
| Shares Outstanding | 253.87 |
| Equity Value Per Share | -151.67 |