Discounted Cash Flow (DCF) Analysis Levered
PPD, Inc. (PPD)
$47.28
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 3,001.05 | 3,748.97 | 4,031.02 | 4,681.47 | 5,439.59 | 6,320.46 | 7,343.99 | 8,533.27 | 9,915.13 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 359.08 | 423.41 | 432.95 | 251.33 | 535.37 | 622.06 | 722.80 | 839.85 | 975.85 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -105.14 | -116.14 | -125.93 | -163.33 | -179.70 | -208.80 | -242.61 | -281.90 | -327.55 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 253.94 | 307.26 | 307.02 | 88 | 355.67 | 413.26 | 480.19 | 557.95 | 648.30 |
Weighted Average Cost Of Capital
Share price | $ 47.28 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 346.68 |
Cost of Debt | |
Tax Rate | 18.05 |
After-tax Cost of Debt | 3.99% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 2.849 |
Total Debt | 4,451.73 |
Total Equity | 16,391.22 |
Total Capital | 20,842.95 |
Debt Weighting | 21.36 |
Equity Weighting | 78.64 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 3,001.05 | 3,748.97 | 4,031.02 | 4,681.47 | 5,439.59 | 6,320.46 | 7,343.99 | 8,533.27 | 9,915.13 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 359.08 | 423.41 | 432.95 | 251.33 | 535.37 | 622.06 | 722.80 | 839.85 | 975.85 |
Capital Expenditure | -105.14 | -116.14 | -125.93 | -163.33 | -179.70 | -208.80 | -242.61 | -281.90 | -327.55 |
Free Cash Flow | 253.94 | 307.26 | 307.02 | 88 | 355.67 | 413.26 | 480.19 | 557.95 | 648.30 |
WACC | |||||||||
PV LFCF | 355.67 | 400.88 | 451.83 | 509.26 | 574 | ||||
SUM PV LFCF | 2,222.94 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.09 |
Free cash flow (t + 1) | 661.26 |
Terminal Value | 60,666.50 |
Present Value of Terminal Value | 52,103.42 |
Intrinsic Value
Enterprise Value | 54,326.36 |
---|---|
Net Debt | 3,683.73 |
Equity Value | 50,642.63 |
Shares Outstanding | 346.68 |
Equity Value Per Share | 146.08 |