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BFAM - Bright Horizons Fami...

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Bright Horizons Family Solutions Inc.

BFAM

NYSE

Bright Horizons Family Solutions Inc. provides early education and child care, back-up care, educational advisory, and other workplace solutions services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services. The Full Service Center-Based Child Care segment offers traditional center-based child care and early education, preschool, and elementary education services. The Back-Up Care segment provides center-based back-up child care, in-home child and adult/elder dependent care, school-age camps, virtual tutoring, and self-sourced reimbursed care services through child care centers, school-age campuses, and in-home caregivers, as well as the back-up care network. The Educational Advisory and Other Services segment offers tuition assistance and student loan repayment program administration, workforce education, and related educational consulting services, as well as college admissions advisory services. As of December 31, 2021, it operated 1,014 child care and early education centers in the United States, Puerto Rico, the United Kingdom, Canada, the Netherlands, and India. The company was formerly known as Bright Horizons Solutions Corp. and changed its name to Bright Horizons Family Solutions Inc. in July 2012. Bright Horizons Family Solutions Inc. was founded in 1986 and is headquartered in Newton, Massachusetts.

119.83 USD

2.74 (2.29%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

1.52B

1.76B

2.02B

2.42B

2.69B

3.1B

3.58B

4.13B

4.77B

5.5B

Revenue %

-

15.85

15.11

19.69

11.07

15.43

15.43

15.43

15.43

Ebitda

165M

230.35M

265.27M

281.92M

344.54M

382.15M

441.11M

509.18M

587.74M

678.44M

Ebitda %

10.89

13.12

13.13

11.66

12.83

12.33

12.33

12.33

12.33

Ebit

53.33M

121.52M

159.13M

171.24M

246.62M

214.44M

247.53M

285.72M

329.81M

380.7M

Ebit %

3.52

6.92

7.88

7.08

9.18

6.92

6.92

6.92

6.92

Depreciation

111.66M

108.83M

106.14M

110.68M

97.92M

167.71M

193.59M

223.46M

257.94M

297.74M

Depreciation %

7.37

6.2

5.25

4.58

3.65

5.41

5.41

5.41

5.41

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

384.34M

260.98M

36.22M

93.57M

122.03M

312.78M

361.05M

416.76M

481.06M

555.29M

Total Cash %

25.37

14.87

1.79

3.87

4.54

10.09

10.09

10.09

10.09

Receivables

176.62M

210.97M

217.17M

281.71M

283.34M

351.11M

405.29M

467.83M

540.02M

623.34M

Receivables %

11.66

12.02

10.75

11.65

10.55

11.32

11.32

11.32

11.32

Inventories

1

1

73.27M

-

-

22.49M

25.96M

29.96M

34.58M

39.92M

Inventories %

0

0

3.63

-

-

0.73

0.73

0.73

0.73

Payable

29.96M

8.5M

24.65M

24.8M

32.84M

36.77M

42.44M

48.99M

56.55M

65.28M

Payable %

1.98

0.48

1.22

1.03

1.22

1.19

1.19

1.19

1.19

Cap Ex

-72.83M

-57.66M

-60.01M

-91.02M

-97.31M

-114.4M

-132.05M

-152.43M

-175.95M

-203.1M

Cap Ex %

-4.81

-3.29

-2.97

-3.76

-3.62

-3.69

-3.69

-3.69

-3.69

Weighted Average Cost Of Capital

Price

119.83

Beta

Diluted Shares Outstanding

58.47M

Costof Debt

5.58

Tax Rate

After Tax Cost Of Debt

3.95

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

874.15M

Total Equity

7.01B

Total Capital

7.88B

Debt Weighting

11.09

Equity Weighting

88.91

Wacc

9.53

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

1.52B

1.76B

2.02B

2.42B

2.69B

3.1B

3.58B

4.13B

4.77B

5.5B

Ebitda

165M

230.35M

265.27M

281.92M

344.54M

382.15M

441.11M

509.18M

587.74M

678.44M

Ebit

53.33M

121.52M

159.13M

171.24M

246.62M

214.44M

247.53M

285.72M

329.81M

380.7M

Tax Rate

29.15

29.15

29.15

29.15

29.15

29.15

29.15

29.15

29.15

29.15

Ebiat

91.97M

94.77M

114.39M

105.99M

174.74M

164.1M

189.42M

218.65M

252.38M

291.33M

Depreciation

111.66M

108.83M

106.14M

110.68M

97.92M

167.71M

193.59M

223.46M

257.94M

297.74M

Receivables

176.62M

210.97M

217.17M

281.71M

283.34M

351.11M

405.29M

467.83M

540.02M

623.34M

Inventories

1

1

73.27M

-

-

22.49M

25.96M

29.96M

34.58M

39.92M

Payable

29.96M

8.5M

24.65M

24.8M

32.84M

36.77M

42.44M

48.99M

56.55M

65.28M

Cap Ex

-72.83M

-57.66M

-60.01M

-91.02M

-97.31M

-114.4M

-132.05M

-152.43M

-175.95M

-203.1M

Ufcf

-15.86M

90.13M

97.2M

134.54M

181.76M

131.07M

198.98M

229.68M

265.12M

306.03M

Wacc

9.53

9.53

9.53

9.53

9.53

Pv Ufcf

119.67M

165.86M

174.79M

184.21M

194.13M

Sum Pv Ufcf

838.73M

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

9.53

Free Cash Flow T1

315.21M

Terminal Value

4.83B

Present Terminal Value

3.06B

Intrinsic Value

Enterprise Value

3.9B

Net Debt

763.83M

Equity Value

3.14B

Diluted Shares Outstanding

58.47M

Equity Value Per Share

53.68

Projected DCF

53.68 -1.232%

DCF Levered

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