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
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 | 1,675.30 | 3,421.10 | 4,632.90 | 4,667.90 | 5,051 | 6,927.35 | 9,500.74 | 13,030.09 | 17,870.54 | 24,509.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 470.36 | 640.10 | 1,328.30 | 1,184.70 | 1,429 | 1,789.04 | 2,453.64 | 3,365.12 | 4,615.21 | 6,329.67 |
| 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 | 424.39 | 551 | 1,197.90 | 1,078.30 | 1,292.40 | 1,606.89 | 2,203.83 | 3,022.51 | 4,145.31 | 5,685.22 |
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 | 1,675.30 | 3,421.10 | 4,632.90 | 4,667.90 | 5,051 | 6,927.35 | 9,500.74 | 13,030.09 | 17,870.54 | 24,509.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 470.36 | 640.10 | 1,328.30 | 1,184.70 | 1,429 | 1,789.04 | 2,453.64 | 3,365.12 | 4,615.21 | 6,329.67 |
| 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 | 424.39 | 551 | 1,197.90 | 1,078.30 | 1,292.40 | 1,606.89 | 2,203.83 | 3,022.51 | 4,145.31 | 5,685.22 |
| WACC | ||||||||||
| PV LFCF | 1,490.07 | 1,895.04 | 2,410.06 | 3,065.05 | 3,898.06 | |||||
| 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 |