Discounted Cash Flow (DCF) Analysis Levered

SS&C Technologies Holdings, Inc. (SSNC)

$58.34

+0.42 (+0.73%)
All numbers are in Millions, Currency in USD
Stock DCF: 282.02 | 58.34 | undervalue

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 1,675.303,421.104,632.904,667.905,0516,927.359,500.7413,030.0917,870.5424,509.12
Revenue (%)
Operating Cash Flow 470.36640.101,328.301,184.701,4291,789.042,453.643,365.124,615.216,329.67
Operating Cash Flow (%)
Capital Expenditure -45.97-89.10-130.40-106.40-136.60-182.15-249.81-342.62-469.89-644.45
Capital Expenditure (%)
Free Cash Flow 424.395511,197.901,078.301,292.401,606.892,203.833,022.514,145.315,685.22

Weighted Average Cost Of Capital

Share price $ 58.34
Beta 1.374
Diluted Shares Outstanding 266.60
Cost of Debt
Tax Rate 22.85
After-tax Cost of Debt 2.50%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.978
Total Debt 6,217.10
Total Equity 15,553.44
Total Capital 21,770.54
Debt Weighting 28.56
Equity Weighting 71.44
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 1,675.303,421.104,632.904,667.905,0516,927.359,500.7413,030.0917,870.5424,509.12
Operating Cash Flow 470.36640.101,328.301,184.701,4291,789.042,453.643,365.124,615.216,329.67
Capital Expenditure -45.97-89.10-130.40-106.40-136.60-182.15-249.81-342.62-469.89-644.45
Free Cash Flow 424.395511,197.901,078.301,292.401,606.892,203.833,022.514,145.315,685.22
WACC
PV LFCF 1,490.071,895.042,410.063,065.053,898.06
SUM PV LFCF 12,758.28

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.84
Free cash flow (t + 1) 5,798.93
Terminal Value 99,296.70
Present Value of Terminal Value 68,082.49

Intrinsic Value

Enterprise Value 80,840.76
Net Debt 5,653.10
Equity Value 75,187.66
Shares Outstanding 266.60
Equity Value Per Share 282.02