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 | $36.1B | $40.4B | $45.2B | $49.4B | $54.7B |
| EBIT | $6.5B | $7.3B | $8.2B | $9.3B | $10.6B |
| Tax | $1.1B | $1.2B | $1.4B | $1.5B | $1.8B |
| NOPAT | $5.4B | $6.1B | $6.8B | $7.7B | $8.8B |
| + Depreciation | $2.9B | $3.3B | $3.7B | $4.0B | $4.4B |
| - Capex | $1.6B | $1.7B | $1.8B | $1.9B | $1.9B |
| - Δ NWC | $771M | $589M | $674M | $617M | $478M |
| Free Cash Flow | $6.0B | $7.0B | $8.0B | $9.2B | $10.9B |
| Discount Factor | 0.937 | 0.823 | 0.723 | 0.634 | 0.522 |
| Present Value | $5.6B | $5.8B | $5.8B | $5.9B | $5.7B |
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% |
|---|
| 4.71% | $218.23 | $241.49 | $248.61 | $237.73 | $227.36 |
| 5.71% | $173.95 | $184.70 | $199.40 | $220.75 | $227.36 |
| 6.71% | $145.44 | $151.38 | $158.91 | $168.78 | $182.30 |
| 7.71% | $124.80 | $128.44 | $132.85 | $138.31 | $145.23 |
| 8.71% | $108.78 | $111.18 | $113.99 | $117.33 | $121.39 |
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 Growth7.67%
Year 3 Revenue Growth5.11%
Year 5 Revenue Growth5.23%
Year 7 Revenue Growth4.34%
Year 10 Revenue Growth3.00%
Terminal Growth Rate3.00%
Margin & Efficiency
Current EBIT Margin18.10%
Terminal EBIT Margin20.00%
Tax Rate16.63%
Historical Capex / Rev4.55%
Terminal Capex / Rev3.50%
NWC / Revenue30.00%
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.