10-Year Free Cash Flow Projections(showing years 1, 3, 5, 7, 10)
| Year | Year 1 | Year 3 | Year 5 | Year 7 | Year 10 |
|---|
| Revenue | $22.3B | $27.2B | $33.0B | $38.8B | $44.3B |
| EBIT | $3.3B | $4.1B | $5.0B | $6.5B | $8.1B |
| Tax | $487M | $594M | $722M | $950M | $1.2B |
| NOPAT | $2.9B | $3.5B | $4.2B | $5.6B | $7.0B |
| + Depreciation | $1.3B | $1.6B | $2.0B | $2.3B | $2.7B |
| - Capex | $806M | $976M | $1.2B | $1.4B | $1.6B |
| - Δ NWC | $186M | $214M | $270M | $232M | $109M |
| Free Cash Flow | $3.2B | $3.9B | $4.8B | $6.3B | $8.0B |
| Discount Factor | 0.934 | 0.814 | 0.709 | 0.618 | 0.503 |
| Present Value | $3.0B | $3.2B | $3.4B | $3.9B | $4.0B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 2.00% | 2.50% | 3.00% | 3.50% | 4.00% |
|---|
| 5.11% | $126.67 | $137.22 | $152.76 | $152.20 | $145.71 |
| 6.11% | $103.72 | $109.03 | $116.04 | $125.72 | $139.99 |
| 7.11% | $88.17 | $91.24 | $95.06 | $99.93 | $106.37 |
| 8.11% | $76.58 | $78.52 | $80.84 | $83.67 | $87.18 |
| 9.11% | $67.43 | $68.73 | $70.25 | $72.04 | $74.18 |
How to read: This table shows how the valuation changes with different WACC (discount rate) and terminal growth rate assumptions. Green = undervalued, Red = overvalued.
Key Assumptions & Drivers✓ Using Analyst Consensus Estimates• Healthcare Sector
Growth Assumptions (Select Years)
Year 1 Revenue Growth10.96%
Year 3 Revenue Growth10.26%
Year 5 Revenue Growth10.68%
Year 7 Revenue Growth7.61%
Year 10 Revenue Growth3.00%
Terminal Growth Rate3.00%
Margin & Efficiency
Current EBIT Margin15.01%
Terminal EBIT Margin20.00%
Tax Rate14.56%
Historical Capex / Rev3.62%
Terminal Capex / Rev3.50%
NWC / Revenue8.46%
Key Drivers: Revenue growth, operating margin expansion, capex efficiency, and working capital management are the primary drivers of cash flow generation. Terminal value assumptions significantly impact final valuation.
Institutional-Grade Methodology
Actual Company Data: Revenue, EBIT, Capex, NWC, Tax Rate, Interest Expense, Beta
Market Assumptions: Risk-free: 4.5% (10Y), MRP: 4.5% (Damodaran 2026), Exit: 24x EV/EBITDA (Healthcare sector)
This DCF model is for informational purposes only. Projections are based on assumptions that may not materialize. Past performance does not guarantee future results. Consult a financial advisor before making investment decisions.