Discounted Cash Flow (DCF) Analysis Levered

SS&C Technologies Holdings, Inc. (SSNC)

$53.92

-0.01 (-0.02%)
All numbers are in Millions, Currency in USD
Stock DCF: 95.14 | 53.92 | undervalue

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 3,421.104,632.904,667.905,0515,2835,929.866,655.937,470.908,385.669,412.43
Revenue (%)
Operating Cash Flow 640.101,328.301,184.701,4291,134.301,453.091,631.011,830.722,054.882,306.48
Operating Cash Flow (%)
Capital Expenditure -89.10-130.40-106.40-136.60-208.30-170.14-190.97-214.35-240.60-270.06
Capital Expenditure (%)
Free Cash Flow 5511,197.901,078.301,292.409261,282.961,440.051,616.371,814.282,036.43

Weighted Average Cost Of Capital

Share price $ 53.92
Beta 1.408
Diluted Shares Outstanding 262
Cost of Debt
Tax Rate 25.78
After-tax Cost of Debt 3.12%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.027
Total Debt 7,316.60
Total Equity 14,127.04
Total Capital 21,443.64
Debt Weighting 34.12
Equity Weighting 65.88
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 3,421.104,632.904,667.905,0515,2835,929.866,655.937,470.908,385.669,412.43
Operating Cash Flow 640.101,328.301,184.701,4291,134.301,453.091,631.011,830.722,054.882,306.48
Capital Expenditure -89.10-130.40-106.40-136.60-208.30-170.14-190.97-214.35-240.60-270.06
Free Cash Flow 5511,197.901,078.301,292.409261,282.961,440.051,616.371,814.282,036.43
WACC
PV LFCF 1,106.681,153.701,202.711,253.811,307.07
SUM PV LFCF 6,486.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.67
Free cash flow (t + 1) 2,077.15
Terminal Value 36,634.13
Present Value of Terminal Value 25,317

Intrinsic Value

Enterprise Value 31,803.01
Net Debt 6,876.50
Equity Value 24,926.51
Shares Outstanding 262
Equity Value Per Share 95.14