Discounted Cash Flow (DCF) Analysis Levered
P3 Health Partners Inc. (PIII)
$1.26
+0.01 (+0.80%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 145.48 | 485.54 | 1,620.48 | 5,408.28 | 18,049.95 | 60,241.04 | 201,052.29 | 671,004.76 |
|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||
| Operating Cash Flow | -28.29 | -24.60 | -198.58 | -662.76 | -2,211.93 | -7,382.22 | -24,637.89 | -82,228.08 |
| Operating Cash Flow (%) | ||||||||
| Capital Expenditure | -1.45 | -2.93 | -12.97 | -43.29 | -144.46 | -482.15 | -1,609.14 | -5,370.45 |
| Capital Expenditure (%) | ||||||||
| Free Cash Flow | -29.74 | -27.52 | -211.55 | -706.04 | -2,356.39 | -7,864.37 | -26,247.03 | -87,598.53 |
Weighted Average Cost Of Capital
| Share price | $ 1.26 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 68.16 |
| Cost of Debt | |
| Tax Rate | 9.49 |
| After-tax Cost of Debt | 4.53% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.640 |
| Total Debt | 89.92 |
| Total Equity | 85.88 |
| Total Capital | 175.80 |
| Debt Weighting | 51.15 |
| Equity Weighting | 48.85 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 145.48 | 485.54 | 1,620.48 | 5,408.28 | 18,049.95 | 60,241.04 | 201,052.29 | 671,004.76 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -28.29 | -24.60 | -198.58 | -662.76 | -2,211.93 | -7,382.22 | -24,637.89 | -82,228.08 |
| Capital Expenditure | -1.45 | -2.93 | -12.97 | -43.29 | -144.46 | -482.15 | -1,609.14 | -5,370.45 |
| Free Cash Flow | -29.74 | -27.52 | -211.55 | -706.04 | -2,356.39 | -7,864.37 | -26,247.03 | -87,598.53 |
| WACC | ||||||||
| PV LFCF | -229.21 | -734.92 | -2,356.39 | -7,555.35 | -24,224.91 | -77,672.95 | ||
| SUM PV LFCF | -103,873.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.09 |
| Free cash flow (t + 1) | -89,350.50 |
| Terminal Value | -4,275,143.58 |
| Present Value of Terminal Value | -3,498,691.60 |
Intrinsic Value
| Enterprise Value | -3,602,565.48 |
|---|---|
| Net Debt | -50.56 |
| Equity Value | -3,602,514.92 |
| Shares Outstanding | 68.16 |
| Equity Value Per Share | -52,854.16 |