Discounted Cash Flow (DCF) Analysis Levered

Independence Holding Company (IHC)

$57.01

+0.01 (+0.02%)
All numbers are in Millions, Currency in USD
Stock DCF: 52.91 | 57.01 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 311320.49350.78374.45443.86485.79531.69581.91636.88697.05
Revenue (%)
Operating Cash Flow -3128.6036.0239.1751.4230.3833.2536.4039.8343.60
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----30.3833.2536.4039.8343.60

Weighted Average Cost Of Capital

Share price $ 57.01
Beta 0.777
Diluted Shares Outstanding 14.79
Cost of Debt
Tax Rate 36.75
After-tax Cost of Debt 3.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.473
Total Debt 9.99
Total Equity 843.23
Total Capital 853.23
Debt Weighting 1.17
Equity Weighting 98.83
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 311320.49350.78374.45443.86485.79531.69581.91636.88697.05
Operating Cash Flow -3128.6036.0239.1751.4230.3833.2536.4039.8343.60
Capital Expenditure ----------
Free Cash Flow -----30.3833.2536.4039.8343.60
WACC
PV LFCF 26.3326.8327.3327.8528.38
SUM PV LFCF 146.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.42
Free cash flow (t + 1) 44.47
Terminal Value 820.46
Present Value of Terminal Value 573.63

Intrinsic Value

Enterprise Value 720.49
Net Debt -62.10
Equity Value 782.59
Shares Outstanding 14.79
Equity Value Per Share 52.91