Discounted Cash Flow (DCF) Analysis Levered
Syneos Health, Inc. (SYNH)
$41.66
+0.01 (+0.02%)
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 | 4,390.12 | 4,675.82 | 4,415.78 | 5,212.97 | 5,393.08 | 5,695.83 | 6,015.58 | 6,353.28 | 6,709.93 | 7,086.61 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 303.45 | 318.48 | 425.49 | 450.28 | 426.98 | 454.69 | 480.21 | 507.17 | 535.64 | 565.71 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -54.59 | -63.97 | -50.01 | -56.84 | -93.46 | -74.82 | -79.02 | -83.45 | -88.14 | -93.08 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 248.85 | 254.51 | 375.48 | 393.44 | 333.52 | 379.87 | 401.19 | 423.72 | 447.50 | 472.62 |
Weighted Average Cost Of Capital
Share price | $ 41.66 |
---|---|
Beta | 1.622 |
Diluted Shares Outstanding | 103.48 |
Cost of Debt | |
Tax Rate | 15.28 |
After-tax Cost of Debt | 2.41% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.400 |
Total Debt | 2,898.85 |
Total Equity | 4,310.85 |
Total Capital | 7,209.70 |
Debt Weighting | 40.21 |
Equity Weighting | 59.79 |
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 | 4,390.12 | 4,675.82 | 4,415.78 | 5,212.97 | 5,393.08 | 5,695.83 | 6,015.58 | 6,353.28 | 6,709.93 | 7,086.61 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 303.45 | 318.48 | 425.49 | 450.28 | 426.98 | 454.69 | 480.21 | 507.17 | 535.64 | 565.71 |
Capital Expenditure | -54.59 | -63.97 | -50.01 | -56.84 | -93.46 | -74.82 | -79.02 | -83.45 | -88.14 | -93.08 |
Free Cash Flow | 248.85 | 254.51 | 375.48 | 393.44 | 333.52 | 379.87 | 401.19 | 423.72 | 447.50 | 472.62 |
WACC | ||||||||||
PV LFCF | 327.01 | 320.44 | 313.99 | 307.68 | 301.50 | |||||
SUM PV LFCF | 1,692.82 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.78 |
Free cash flow (t + 1) | 482.08 |
Terminal Value | 8,340.43 |
Present Value of Terminal Value | 5,734.52 |
Intrinsic Value
Enterprise Value | 7,427.34 |
---|---|
Net Debt | 2,786.85 |
Equity Value | 4,640.49 |
Shares Outstanding | 103.48 |
Equity Value Per Share | 44.85 |