Discounted Cash Flow (DCF) Analysis Unlevered

P3 Health Partners Inc. (PIII)

$4.69

+0.07 (+1.52%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 4.69 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 145.89485.541,615.895,377.7317,897.1959,562.27198,224.56
Revenue (%)
EBITDA -34.61-40.28-258.69-860.93-2,865.20-9,535.44-31,734.15
EBITDA (%)
EBIT -35.01-41.07-262.23-872.69-2,904.34-9,665.69-32,167.64
EBIT (%)
Depreciation 0.400.803.5311.7639.14130.26433.49
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 32.5936.26240.83801.492,667.398,877.1329,543.29
Total Cash (%)
Account Receivables 18.4239.25167.31556.801,853.036,166.9320,523.69
Account Receivables (%)
Inventories -------
Inventories (%)
Accounts Payable 3.6911.7940.06133.32443.711,476.674,914.38
Accounts Payable (%)
Capital Expenditure -1.45-2.93-12.91-42.97-142.99-475.87-1,583.71
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.69
Beta 0.000
Diluted Shares Outstanding 68.16
Cost of Debt
Tax Rate 9.49
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.748
Total Debt 49.11
Total Equity 319.67
Total Capital 368.78
Debt Weighting 13.32
Equity Weighting 86.68
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 145.89485.541,615.895,377.7317,897.1959,562.27198,224.56
EBITDA -34.61-40.28-258.69-860.93-2,865.20-9,535.44-31,734.15
EBIT -35.01-41.07-262.23-872.69-2,904.34-9,665.69-32,167.64
Tax Rate 18.43%9.49%13.96%13.96%13.96%13.96%13.96%
EBIAT -28.56-37.18-225.62-750.88-2,498.95-8,316.55-27,677.66
Depreciation 0.400.803.5311.7639.14130.26433.49
Accounts Receivable --20.84-128.05-389.49-1,296.24-4,313.90-14,356.76
Inventories -------
Accounts Payable -8.1028.2793.26310.381,032.963,437.71
Capital Expenditure -1.45-2.93-12.91-42.97-142.99-475.87-1,583.71
UFCF -29.61-52.04-334.79-1,078.31-3,588.65-11,943.10-39,746.92
WACC
PV UFCF ---3,588.65--
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -40,541.86
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 12.85
Equity Value -
Shares Outstanding 68.16
Equity Value Per Share -