Discounted Cash Flow (DCF) Analysis Levered

NextGen Healthcare, Inc. (NXGN)

$18.78

-0.24 (-1.26%)
All numbers are in Millions, Currency in USD
Stock DCF: 13.06 | 18.78 | overvalue

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 531.02529.17540.24556.82596.35614.11632.40651.23670.62690.59
Revenue (%)
Operating Cash Flow 76.5950.4885.6098.5253.5581.6584.0886.5889.1691.82
Operating Cash Flow (%)
Capital Expenditure -28.67-25.52-26.88-28.34-28.08-30.70-31.61-32.56-33.53-34.52
Capital Expenditure (%)
Free Cash Flow 47.9224.9558.7270.1825.4650.9552.4754.0355.6457.29

Weighted Average Cost Of Capital

Share price $ 18.78
Beta 1.045
Diluted Shares Outstanding 67.79
Cost of Debt
Tax Rate 68.86
After-tax Cost of Debt 2.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.328
Total Debt 20.02
Total Equity 1,273.06
Total Capital 1,293.08
Debt Weighting 1.55
Equity Weighting 98.45
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 531.02529.17540.24556.82596.35614.11632.40651.23670.62690.59
Operating Cash Flow 76.5950.4885.6098.5253.5581.6584.0886.5889.1691.82
Capital Expenditure -28.67-25.52-26.88-28.34-28.08-30.70-31.61-32.56-33.53-34.52
Free Cash Flow 47.9224.9558.7270.1825.4650.9552.4754.0355.6457.29
WACC
PV LFCF 43.5041.3839.3837.4735.65
SUM PV LFCF 213.61

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.23
Free cash flow (t + 1) 58.44
Terminal Value 938.05
Present Value of Terminal Value 631.67

Intrinsic Value

Enterprise Value 845.28
Net Debt -39.81
Equity Value 885.08
Shares Outstanding 67.79
Equity Value Per Share 13.06