Discounted Cash Flow (DCF) Analysis Unlevered
Tekla Healthcare Investors (HQH)
$17.27
-0.42 (-2.37%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 5.62 | 6.78 | 7.60 | 242.92 | 157.10 | 1,372.05 | 11,982.73 | 104,650.66 | 913,962.14 | 7,982,049.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 121.28 | 69.20 | -145.29 | 241.20 | 155.18 | 4,020.38 | 35,111.81 | 306,647.53 | 2,678,093.29 | 23,389,014.76 |
| EBITDA (%) | ||||||||||
| EBIT | 121.28 | 69.20 | -145.29 | 241.20 | 155.18 | 4,020.38 | 35,111.81 | 306,647.53 | 2,678,093.29 | 23,389,014.76 |
| EBIT (%) | ||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Total Cash | 6.46 | 0 | 1.65 | 110.67 | 71.57 | 625.05 | 5,458.85 | 47,674.66 | 416,364.63 | 3,636,302.94 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 0.18 | 0.46 | 9.02 | 4.11 | 4.03 | 364.82 | 3,186.14 | 27,826.03 | 243,017.42 | 2,122,382.35 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 17.27 |
|---|---|
| Beta | 0.832 |
| Diluted Shares Outstanding | 42.83 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.700 |
| Total Debt | - |
| Total Equity | 739.61 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 5.62 | 6.78 | 7.60 | 242.92 | 157.10 | 1,372.05 | 11,982.73 | 104,650.66 | 913,962.14 | 7,982,049.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 121.28 | 69.20 | -145.29 | 241.20 | 155.18 | 4,020.38 | 35,111.81 | 306,647.53 | 2,678,093.29 | 23,389,014.76 |
| EBIT | 121.28 | 69.20 | -145.29 | 241.20 | 155.18 | 4,020.38 | 35,111.81 | 306,647.53 | 2,678,093.29 | 23,389,014.76 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | 121.28 | 69.20 | -145.29 | 241.20 | 155.18 | 4,020.38 | 35,111.81 | 306,647.53 | 2,678,093.29 | 23,389,014.76 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -0.27 | -8.56 | 4.91 | 0.08 | -360.79 | -2,821.32 | -24,639.88 | -215,191.39 | -1,879,364.93 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | 121.28 | 68.93 | -153.85 | 246.11 | 155.25 | 3,659.59 | 32,290.49 | 282,007.65 | 2,462,901.90 | 21,509,649.83 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 21,939,842.83 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -0 |
| Equity Value | - |
| Shares Outstanding | 42.83 |
| Equity Value Per Share | - |