Discounted Cash Flow (DCF) Analysis Levered
Inspire Medical Systems, Inc. (INSP)
$293.41
-0.88 (-0.30%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 50.59 | 82.05 | 115.38 | 233.39 | 392.94 | 661.56 | 1,113.80 | 1,875.20 | 3,157.09 | 5,315.28 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -18.69 | -32.85 | -53.05 | -20.12 | 11.57 | -170.19 | -286.54 | -482.42 | -812.20 | -1,367.42 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.25 | -2.74 | -2.45 | -4.67 | -9.10 | -13.59 | -22.89 | -38.54 | -64.88 | -109.23 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -18.94 | -35.58 | -55.50 | -24.79 | 2.47 | -183.79 | -309.43 | -520.95 | -877.08 | -1,476.65 |
Weighted Average Cost Of Capital
| Share price | $ 293.41 |
|---|---|
| Beta | 1.435 |
| Diluted Shares Outstanding | 28.07 |
| Cost of Debt | |
| Tax Rate | -0.12 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.473 |
| Total Debt | 7.54 |
| Total Equity | 8,236.53 |
| Total Capital | 8,244.07 |
| Debt Weighting | 0.09 |
| Equity Weighting | 99.91 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 50.59 | 82.05 | 115.38 | 233.39 | 392.94 | 661.56 | 1,113.80 | 1,875.20 | 3,157.09 | 5,315.28 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -18.69 | -32.85 | -53.05 | -20.12 | 11.57 | -170.19 | -286.54 | -482.42 | -812.20 | -1,367.42 |
| Capital Expenditure | -0.25 | -2.74 | -2.45 | -4.67 | -9.10 | -13.59 | -22.89 | -38.54 | -64.88 | -109.23 |
| Free Cash Flow | -18.94 | -35.58 | -55.50 | -24.79 | 2.47 | -183.79 | -309.43 | -520.95 | -877.08 | -1,476.65 |
| WACC | ||||||||||
| PV LFCF | 1.83 | -123.41 | -188.08 | -286.64 | -436.85 | -665.77 | ||||
| SUM PV LFCF | -2,292.82 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.47 |
| Free cash flow (t + 1) | -1,506.18 |
| Terminal Value | -17,782.56 |
| Present Value of Terminal Value | -10,808.68 |
Intrinsic Value
| Enterprise Value | -13,101.50 |
|---|---|
| Net Debt | -434.06 |
| Equity Value | -12,667.44 |
| Shares Outstanding | 28.07 |
| Equity Value Per Share | -451.25 |