DCF — UNIVERSITY OF MARYLAND MED SYS
Enterprise Value: $-1.6B
🛡️ Public data only — no PHI permitted on this instance.
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$-1.6B
Enterprise Value
$-547.3M
PV of Cash Flows
$-1.1B
PV of Terminal Value
$-1.8B
Terminal Value
10.0%
WACC
2.5%
Terminal Growth
Cash Flow Projections
PROJ| Year | Revenue | EBITDA | Margin | FCF | PV(FCF) |
|---|---|---|---|---|---|
| Year 1 | $1.9B | $-85.7M | -5.0% | $-166.4M | $-151.3M |
| Year 2 | $2.0B | $-68.7M | -4.0% | $-151.8M | $-125.4M |
| Year 3 | $2.0B | $-50.5M | -3.0% | $-136.1M | $-102.3M |
| Year 4 | $2.1B | $-41.6M | -2.0% | $-129.8M | $-88.6M |
| Year 5 | $2.1B | $-37.5M | -2.0% | $-128.3M | $-79.7M |
Interpretation
INTAt a WACC of 10.0% and terminal growth of 2.5%, enterprise value is $-1.6B. Terminal value accounts for 0% of total EV — consider sensitivity to terminal assumptions.
Next steps: Check the LBO model to see equity returns at this entry price, or the EBITDA bridge to model value creation levers.
Assumptions
ASSMrevenue base$1.8B
revenue growth rates[0.03, 0.03, 0.03, 0.03, 0.03]
ebitda margin base-0.05000000010811471
ebitda margin improvement bps[50, 100, 100, 50, 25]
capex pct revenue0.04
nwc pct revenue0.08
tax rate0.25
projection years5