Discounted Cash Flow (DCF) Analysis Levered
Veradigm Inc. (MDRX)
$16.9
-0.40 (-2.31%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,806.34 | 1,749.96 | 1,771.68 | 1,502.70 | 1,503.04 | 1,439.01 | 1,377.71 | 1,319.02 | 1,262.83 | 1,209.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 279.42 | 67.89 | 46.25 | -106.72 | -75.43 | 28.32 | 27.11 | 25.96 | 24.85 | 23.79 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -185.27 | -144.62 | -130.44 | -105.02 | -78.56 | -109.65 | -104.98 | -100.50 | -96.22 | -92.12 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 94.14 | -76.73 | -84.18 | -211.73 | -153.99 | -81.33 | -77.87 | -74.55 | -71.37 | -68.33 |
Weighted Average Cost Of Capital
| Share price | $ 16.9 |
|---|---|
| Beta | 1.022 |
| Diluted Shares Outstanding | 159.28 |
| Cost of Debt | |
| Tax Rate | 16.92 |
| After-tax Cost of Debt | 2.52% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.449 |
| Total Debt | 434.48 |
| Total Equity | 2,691.85 |
| Total Capital | 3,126.33 |
| Debt Weighting | 13.90 |
| Equity Weighting | 86.10 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,806.34 | 1,749.96 | 1,771.68 | 1,502.70 | 1,503.04 | 1,439.01 | 1,377.71 | 1,319.02 | 1,262.83 | 1,209.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 279.42 | 67.89 | 46.25 | -106.72 | -75.43 | 28.32 | 27.11 | 25.96 | 24.85 | 23.79 |
| Capital Expenditure | -185.27 | -144.62 | -130.44 | -105.02 | -78.56 | -109.65 | -104.98 | -100.50 | -96.22 | -92.12 |
| Free Cash Flow | 94.14 | -76.73 | -84.18 | -211.73 | -153.99 | -81.33 | -77.87 | -74.55 | -71.37 | -68.33 |
| WACC | ||||||||||
| PV LFCF | -75.57 | -67.23 | -59.81 | -53.21 | -47.33 | |||||
| SUM PV LFCF | -303.15 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.62 |
| Free cash flow (t + 1) | -69.70 |
| Terminal Value | -1,240.21 |
| Present Value of Terminal Value | -859.07 |
Intrinsic Value
| Enterprise Value | -1,162.22 |
|---|---|
| Net Debt | 246.13 |
| Equity Value | -1,408.35 |
| Shares Outstanding | 159.28 |
| Equity Value Per Share | -8.84 |