Discounted Cash Flow (DCF) Analysis Levered
Syneos Health, Inc. (SYNH)
$42.98
+0.01 (+0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 4,675.81 | 4,415.78 | 5,212.97 | 5,393.08 | 5,679.76 | 5,981.68 | 6,299.64 | 6,634.51 | 6,987.18 | 7,358.60 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 318.48 | 425.49 | 450.28 | 426.98 | 468.61 | 493.52 | 519.75 | 547.38 | 576.47 | 607.12 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -63.97 | -50.01 | -56.84 | -93.46 | -75.60 | -79.62 | -83.85 | -88.31 | -93 | -97.94 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 254.51 | 375.48 | 393.44 | 333.52 | 393.01 | 413.90 | 435.90 | 459.07 | 483.47 | 509.17 |
Weighted Average Cost Of Capital
Share price | $ 42.98 |
---|---|
Beta | 1.580 |
Diluted Shares Outstanding | 103.48 |
Cost of Debt | |
Tax Rate | 15.28 |
After-tax Cost of Debt | 2.36% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.052 |
Total Debt | 2,898.85 |
Total Equity | 4,447.44 |
Total Capital | 7,346.29 |
Debt Weighting | 39.46 |
Equity Weighting | 60.54 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 4,675.81 | 4,415.78 | 5,212.97 | 5,393.08 | 5,679.76 | 5,981.68 | 6,299.64 | 6,634.51 | 6,987.18 | 7,358.60 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 318.48 | 425.49 | 450.28 | 426.98 | 468.61 | 493.52 | 519.75 | 547.38 | 576.47 | 607.12 |
Capital Expenditure | -63.97 | -50.01 | -56.84 | -93.46 | -75.60 | -79.62 | -83.85 | -88.31 | -93 | -97.94 |
Free Cash Flow | 254.51 | 375.48 | 393.44 | 333.52 | 393.01 | 413.90 | 435.90 | 459.07 | 483.47 | 509.17 |
WACC | ||||||||||
PV LFCF | 393.01 | 382.43 | 372.13 | 362.11 | 352.36 | 342.87 | ||||
SUM PV LFCF | 1,811.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.23 |
Free cash flow (t + 1) | 519.36 |
Terminal Value | 8,336.41 |
Present Value of Terminal Value | 5,613.59 |
Intrinsic Value
Enterprise Value | 7,425.48 |
---|---|
Net Debt | 2,786.85 |
Equity Value | 4,638.63 |
Shares Outstanding | 103.48 |
Equity Value Per Share | 44.83 |