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Submission: On November 21 via manual from US — Scanned from DE
Submission: On November 21 via manual from US — Scanned from DE
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Loading Preview... Download File Cover Page Health Services Company Valuation Model This is a valuation model of a company in the Health Services industry. Trading and transaction comparables were used for relative valuation and deals were manually screened from lists obtained through databases like Pitchbook & CapIQ Figures from the company's Income Statements for the years 2020 and 2021 were used to understand the its potential and trends. This analysis was used to conduct a DCF valuation of the company by forecasting their P&L and CF for the next 5 years. (i.e., 2022-2026) A football field analysis was conducted to arrive at a range of potential valuaions obtained from Trading comps, Transaction comps and DCF valuation of the company for both 2020 and 2021. Football Field Implied EV/Revenue Multiple Enterprise Value (On Revenue Multiple) Summary Table Min Max Revenue Metric ($m) Summary Table Min Max Private Comps (2021) 1.7x 2.0x $10.6M Private Comps (2021) $18.4M $22.5M Private Comps (2020) 1.8x 2.2x $4.3M Private Comps (2020) $7.5M $9.2M Public Comps (2021) 1.1x 1.4x $10.6M Public Comps (2021) $12.7M $15.5M Public Comps (2020) 1.4x 1.7x $4.3M Public Comps (2020) $5.9M $7.2M DCF (2021) 1.0x 1.1x $10.6M DCF (2021) $10.8M $11.5M DCF (2020) 1.1x 1.1x $4.3M DCF (2020) $4.8M $5.0M Equity Value (On Revenue Multiple) Summary Table Min Max Private Comps (2021) $17.6M $21.7M Private Comps (2020) $7.7M $9.4M Public Comps (2021) $11.9M $14.7M Public Comps (2020) $6.1M $7.4M DCF (2021) $10.8M $11.5M DCF (2020) $4.8M $5.0M Private Comps (2021) Private Comps (2020) Public Comps (2021) Public Comps (2020) $0.0M $5.0M $10.0M $15.0M $20.0M $25.0M $30.0M $21.7M $9.4M $14.7M $7.4M $17.6M $7.7M $11.9M $6.1M Private Comps (2021) Private Comps (2020) Public Comps (2021) Public Comps (2020) DCF (2021) DCF (2020) -- 0.5x 1.0x 1.5x 2.0x 2.5x 2.0x 2.2x 1.4x 1.7x 1.1x 1.1x 1.7x 1.8x 1.1x 1.4x 1.0x 1.1x Private Comps (2021) Private Comps (2020) Public Comps (2021) Public Comps (2020) $0.0M $5.0M $10.0M $15.0M $20.0M $25.0M $30.0M $22.5M $9.2M $15.5M $7.2M $18.4M $7.5M $12.7M $5.9M Private Comps (2021) Private Comps (2020) Public Comps (2021) Public Comps (2020) 0.5x 1.0x 1.5x 2.0x 2.5x 2.0x 2.2x 1.4x 1.7x 1.7x 1.8x 1.1x 1.4x DCF (Perpetual Growth)-2021 ABC (DCF) (Amounts in $) 1 2 3 4 5 5 2022E 2023E 2024E 2025E 2026E Term. value EBITDA (387,946) 151,368 1,072,503 2,511,261 4,694,300 D&A 1,709,672 1,738,363 1,774,209 1,818,138 1,874,806 Tax (799,192) (604,645) (267,350) 264,080 1,074,227 Tax rate 38.1% Working capital 74,548 94,889 118,554 145,286 187,418 Capex 500,830 567,053 646,678 738,600 854,819 Net FCF (164,132) 94,071 574,622 1,363,295 2,577,835 17,623,127 Term. Growth 1.0% Discount rate 0.86 0.75 0.64 0.56 0.48 0.48 Discounted FCF 10,769,796 (141,769) 70,183 370,297 758,836 1,239,375 8,472,873 Terminal Value 1% Risk free rate 2.1% Beta 1.22 Equity risk premium 6.0% Specific company risk 8.0% Cost of equity 17.4% Cost of debt 3.5% Equity 88% Debt 12% WACC 15.8% Enterprise Value 10,769,796 Net Debt 729,741 Equity Value 10,040,055 ABC (DCF) (Amounts in $) 1 2 3 4 5 5 2022E 2023E 2024E 2025E 2026E Term. value EBITDA (387,946) 151,368 1,072,503 2,511,261 4,694,300 D&A 1,709,672 1,738,363 1,774,209 1,818,138 1,874,806 1 / 23 Okay DEVENDRA BAIRATHI WOULD LIKE TO SHARE THIS PRESENTATION WITH YOU. PLEASE ENTER YOUR NAME TO CONTINUE. YOUR NAME