Discounted Cash Flow (DCF) Analysis Levered
Supernus Pharmaceuticals, Inc. (SUPN)
$33.62
+0.08 (+0.24%)
All numbers are in Millions, Currency in USD
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 | 408.90 | 392.76 | 520.40 | 579.78 | 667.24 | 759.06 | 863.52 | 982.36 | 1,117.55 | 1,271.34 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 128.99 | 143.13 | 138.40 | 127.13 | 116.83 | 203.46 | 231.46 | 263.31 | 299.54 | 340.77 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.84 | -2.74 | -3.45 | -2.04 | -0.41 | -3.01 | -3.42 | -3.89 | -4.43 | -5.04 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 128.14 | 140.39 | 134.95 | 125.08 | 116.41 | 200.45 | 228.04 | 259.42 | 295.12 | 335.73 |
Weighted Average Cost Of Capital
Share price | $ 33.62 |
---|---|
Beta | 1.048 |
Diluted Shares Outstanding | 61.68 |
Cost of Debt | |
Tax Rate | 0.05 |
After-tax Cost of Debt | 1.61% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.758 |
Total Debt | 437.97 |
Total Equity | 2,073.67 |
Total Capital | 2,511.64 |
Debt Weighting | 17.44 |
Equity Weighting | 82.56 |
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 | 408.90 | 392.76 | 520.40 | 579.78 | 667.24 | 759.06 | 863.52 | 982.36 | 1,117.55 | 1,271.34 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 128.99 | 143.13 | 138.40 | 127.13 | 116.83 | 203.46 | 231.46 | 263.31 | 299.54 | 340.77 |
Capital Expenditure | -0.84 | -2.74 | -3.45 | -2.04 | -0.41 | -3.01 | -3.42 | -3.89 | -4.43 | -5.04 |
Free Cash Flow | 128.14 | 140.39 | 134.95 | 125.08 | 116.41 | 200.45 | 228.04 | 259.42 | 295.12 | 335.73 |
WACC | ||||||||||
PV LFCF | 186.45 | 197.29 | 208.76 | 220.90 | 233.75 | |||||
SUM PV LFCF | 1,047.15 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.51 |
Free cash flow (t + 1) | 342.45 |
Terminal Value | 6,214.98 |
Present Value of Terminal Value | 4,327.08 |
Intrinsic Value
Enterprise Value | 5,374.23 |
---|---|
Net Debt | 344.85 |
Equity Value | 5,029.39 |
Shares Outstanding | 61.68 |
Equity Value Per Share | 81.54 |