DCF — MASSACHUSETTS GENERAL HOSPITAL
Enterprise Value: $-3.1B
🛡️ Public data only — no PHI permitted on this instance.
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$-3.1B
Enterprise Value
$-1.0B
PV of Cash Flows
$-2.1B
PV of Terminal Value
$-3.3B
Terminal Value
10.0%
WACC
2.5%
Terminal Growth
Cash Flow Projections
PROJ| Year | Revenue | EBITDA | Margin | FCF | PV(FCF) |
|---|---|---|---|---|---|
| Year 1 | $3.6B | $-162.4M | -5.0% | $-315.2M | $-286.5M |
| Year 2 | $3.7B | $-130.1M | -4.0% | $-287.5M | $-237.6M |
| Year 3 | $3.8B | $-95.7M | -3.0% | $-257.8M | $-193.7M |
| Year 4 | $3.9B | $-78.9M | -2.0% | $-245.8M | $-167.9M |
| Year 5 | $4.1B | $-71.1M | -2.0% | $-243.0M | $-150.9M |
Interpretation
INTAt a WACC of 10.0% and terminal growth of 2.5%, enterprise value is $-3.1B. 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$3.5B
revenue growth rates[0.03, 0.03, 0.03, 0.03, 0.03]
ebitda margin base-0.050000000071345835
ebitda margin improvement bps[50, 100, 100, 50, 25]
capex pct revenue0.04
nwc pct revenue0.08
tax rate0.25
projection years5