Discounted Cash Flow (DCF) Analysis Levered
OPKO Health, Inc. (OPK)
$1.23
-0.03 (-2.38%)
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 | 1,067.50 | 990.27 | 901.93 | 1,435.41 | 1,774.72 | 2,070.35 | 2,415.22 | 2,817.54 | 3,286.88 | 3,834.40 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -92.08 | -109.14 | -172.52 | 39.48 | 38.34 | -140.22 | -163.58 | -190.83 | -222.62 | -259.70 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -46.52 | -27.86 | -12.74 | -33.68 | -32.16 | -52.76 | -61.55 | -71.80 | -83.77 | -97.72 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -138.60 | -137 | -185.26 | 5.79 | 6.18 | -192.99 | -225.13 | -262.64 | -306.38 | -357.42 |
Weighted Average Cost Of Capital
| Share price | $ 1.23 |
|---|---|
| Beta | 1.698 |
| Diluted Shares Outstanding | 648.08 |
| Cost of Debt | |
| Tax Rate | -114.91 |
| After-tax Cost of Debt | 7.41% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.565 |
| Total Debt | 254.76 |
| Total Equity | 797.14 |
| Total Capital | 1,051.89 |
| Debt Weighting | 24.22 |
| Equity Weighting | 75.78 |
| 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 | 1,067.50 | 990.27 | 901.93 | 1,435.41 | 1,774.72 | 2,070.35 | 2,415.22 | 2,817.54 | 3,286.88 | 3,834.40 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -92.08 | -109.14 | -172.52 | 39.48 | 38.34 | -140.22 | -163.58 | -190.83 | -222.62 | -259.70 |
| Capital Expenditure | -46.52 | -27.86 | -12.74 | -33.68 | -32.16 | -52.76 | -61.55 | -71.80 | -83.77 | -97.72 |
| Free Cash Flow | -138.60 | -137 | -185.26 | 5.79 | 6.18 | -192.99 | -225.13 | -262.64 | -306.38 | -357.42 |
| WACC | ||||||||||
| PV LFCF | -174.55 | -184.18 | -194.34 | -205.06 | -216.37 | |||||
| SUM PV LFCF | -974.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.56 |
| Free cash flow (t + 1) | -364.57 |
| Terminal Value | -4,258.99 |
| Present Value of Terminal Value | -2,578.20 |
Intrinsic Value
| Enterprise Value | -3,552.70 |
|---|---|
| Net Debt | 120.05 |
| Equity Value | -3,672.74 |
| Shares Outstanding | 648.08 |
| Equity Value Per Share | -5.67 |