DCF — SPAULDING REHABILITATION HOSPITAL
Enterprise Value: $-128.1M
🛡️ Public data only — no PHI permitted on this instance.
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$-128.1M
Enterprise Value
$-42.9M
PV of Cash Flows
$-85.3M
PV of Terminal Value
$-137.3M
Terminal Value
10.0%
WACC
2.5%
Terminal Growth
Cash Flow Projections
PROJ| Year | Revenue | EBITDA | Margin | FCF | PV(FCF) |
|---|---|---|---|---|---|
| Year 1 | $149.2M | $-6.7M | -5.0% | $-13.0M | $-11.8M |
| Year 2 | $153.7M | $-5.4M | -4.0% | $-11.9M | $-9.8M |
| Year 3 | $158.3M | $-4.0M | -3.0% | $-10.7M | $-8.0M |
| Year 4 | $163.1M | $-3.3M | -2.0% | $-10.2M | $-6.9M |
| Year 5 | $168.0M | $-2.9M | -2.0% | $-10.0M | $-6.2M |
Interpretation
INTAt a WACC of 10.0% and terminal growth of 2.5%, enterprise value is $-128.1M. 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$144.9M
revenue growth rates[0.03, 0.03, 0.03, 0.03, 0.03]
ebitda margin base-0.050000000345091763
ebitda margin improvement bps[50, 100, 100, 50, 25]
capex pct revenue0.04
nwc pct revenue0.08
tax rate0.25
projection years5